What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian web based investing, stocks plus crypto trading web app that distinguishes itself from other apps by charging no fees.
A leading Canadian fintech business founded in the Autumn twenty fourteen exclusively as a robo advisor automated trading app called Wealthsimple Invest, it has grown considerably over the past 8 years to feature Wealthsimple Trade, a zero fees discount brokerage app.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade allows consumers to trade both individual stocks and also ETFs without having to pay fees. The exception is when trading stocks that are displayed in US Dollars. In that case, they do charge a nominal currency conversion fee when buying and selling. However, gone are the days of paying $7-12 per trade with digital discount brokerages as was common just a couple years past.
Exactly How Much Cash Will I Need in Order to Get Started With Wealthsimple Trade?
Wealthsimple is awesome in that they will allow Canadians to make a minimum deposit of only $1. The majority of alternative banks and brokerages have large minimum deposit amounts of $1000-5k. This makes it tough for the typical new investor to start investing. With Wealthsimple Trade, you don’t have to be wealthy to begin trading stocks and ETFs.
So Does Wealthsimple Trade Offer RRSP Accounts?
Yes. Wealthsimple Trade offers both registered and non-registered accounts. You can select between both RRSP and TFSA account types in the setup phase.
So Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade has a easy to use mobile app available on Apple and Android. The mobile app makes the registration steps and trading of stocks and ETFs simple.
Is Wealthsimple Trade Trustworthy?
For sure. Wealthsimple Trade is legit. Wealthsimple has more than 15 billion CAD of Assets Under Management . These folks have been operating for more than 7 years and employs roughly 600 people. The primary shareholder is the large publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade is the first no-fees online brokerage to operate in Canada.
How Does One Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it quite straight forward to fund your account. Simply connect to a chequing or savings account to your Trade account, then add funds to your account in just a few clicks. Deposits from financial institutions to Wealthsimple normally take a few days. Funds can the same way can be moved to a chequing or savings account with the same steps.
Which Additional Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is equivalent to Interac E-transfers which allow one to quickly and simply send cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for this tax season and file your taxes online free. It’s advertised to be simple, accurate and always free income tax filing.
Wealthsimple Spend – A hybrid prepaid debit card and savings product that allows one to recieve 1% cashback on all your everyday spending, as well as get a very competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance platform that includes a ton of different online courses on saving, investments, crypto, real estate and more.
Every one of the above products, including Wealthsimple Trade can be found in the mobile app or at their site with a single login.
So How Should I Start Using Wealthsimple Trade?
Click here to setup a new Wealthsimple Trade account. For a special registration bonus offer for our readers you’ll receive the cash value of a random stock worth $25 up to $4,500 CAD when you deposit to your account.
What if I Still Have Questions Concerning Wealthsimple Login?
If this article still hasn’t given you the answers to all of your questions, and you’re still looking for more specific answers relating to Wealthsimple Login, visit the Wealthsimple website to find answers to all your questions.