What is Wealthsimple?
Wealthsimple is an easy to use Canadian online Financial, securities plus crypto trading app that differentiates itself from the competition by charging no fees.
A leading Canadian online financial services business launched in Fall 2014 originally as a robo advisor algorithmic trading platform called Wealthsimple Invest, it has improved significantly over the past eight years to feature Wealthsimple Trade, a no fees discount brokerage platform.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade allows consumers trade both individual stocks and also ETFs without paying fees. The exception to this is when you’re trading stocks that are listed in USD. In which case, they charge a nominal currency conversion fee when buying and selling. However, past us are the days of having to pay $7-12 for each trade with online discount brokerages as was normal just a few years ago.
How Much in Funds do I Need in Order to Get Started With Wealthsimple Trade?
Wealthsimple is cool such that they allow Canadians to make a minimum deposit of only $1. Most traditional banks and discount brokerages have sizeable minimum deposit amounts of $1000-5k. This makes it hard for the normal new investor to start. With Wealthsimple Trade, you won’t need to be wealthy to get started with trading stocks and ETFs.
Does Wealthsimple Trade Offer RRSP Accounts?
Of course. Wealthsimple Trade has both CRA registered and non-CRA-registered accounts. One are free to choose between both RRSP and TFSA accounts during the setup process.
But Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade offers a well designed mobile app available on both Apple and Android. The app makes the enrollment steps and the trading of stocks and ETFs very easy.
Is Wealthsimple Trade Legit?
Yes. Wealthsimple Trade is secure. Wealthsimple boasts in excess of 15 billion Canadian in Assets Under Management . They have been expanding for more than 7 years and also now employs about 600 Canadians. The main owner is the large public Canadian entity Power Corp of Canada. Weapthsimple Trade was the first no-fees online brokerage operating in Canada.
How Do I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it very easy to fund an account. Just connect a chequing or savings account to your Trade account, and add funds to your account in only a few steps. Deposits from banks to Wealthsimple typically take just a couple of days. Funds can just as easily be moved back to a chequing or savings accounts by using the same method.
Which Other Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An equivalent to Interac e-transfers which allow one to quickly and simply transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you need to prepare for tax season and submit your taxes online free. It’s advertised to be easy, accurate and always free tax return filing.
Wealthsimple Spend – A combination prepaid visa and savings account which lets one to recieve 1% cashback on your purchases, as well as earn a competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform that includes a bunch of courses on different topics such as saving, investing, crypto, home buying and much more.
All of the above features, including Wealthsimple Trade may be found inside the app or from the site with one login.
How Can I Begin With Wealthsimple Trade?
Click here to signup for a new Wealthsimple Trade account. For a special registration bonus for our readers you’ll get the cash value of a share valued at $25 up to $4,500 Canadian when you fund your account.
But What if I Still Have Questions Related to Wealthsimple Bitcoin?
If this article still hasn’t answered all of your questions, and you’re still searching for additional facts relating to Wealthsimple Bitcoin, visit the Wealthsimple website for answers to every one of your questions.