What is Wealthsimple?
Wealthsimple is an easy to use Canadian digital Financial, stock plus crypto trading platform that differentiates itself from its competitors by charging absolutely no fees.
A online financial services business founded in Fall 2014 exclusively as a robo advisor trading app called Wealthsimple Invest, it has changed substantially over the past 8 years to also feature Wealthsimple Trade, a zero fee discount brokerage service.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade allows consumers trade single stocks and also ETFs without needing to pay any fees. The exception is when trading securities which are denominated in USD. In which case, they will charge a small currency conversion fee both when buying and selling. But, gone are the times of having to pay $7-12 per each trade with digital discount brokerages as was the norm just a few years ago.
Exactly How Much Cash do I Need in Order to Start With Wealthsimple Trade?
Wealthsimple is special such that they will allow Canadians to make a minimum deposit of just $1. The majority of alternative banks and brokerages have sizeable initial deposit amounts of 1K-$5,000. This makes it tough for the every day new investor to start. With Wealthsimple Trade, one doesn’t need to already be wealthy to start trading stocks and ETFs.
So Does Wealthsimple Trade Have RRSP Accounts?
It does. Wealthsimple Trade has available CRA registered and non-registered account types. One may select both RRSP and TFSA accounts in the setup process.
Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade has a convenient mobile app available on both Apple and Android. The smartphone app makes the registration steps and trading of stocks and ETFs truly easy.
So Is Wealthsimple Trade Legit?
Definitely. Wealthsimple Trade is legit. Wealthsimple reports more than 15 billion Canadian in Assets Under Management (AUM). They have been in business for more than 7 years and also at this time employs more than 600 people. The controlling shareholder is the respected public Canadian entity Power Corp of Canada. Weapthsimple Trade is the very first no-fees online discount brokerage operating in Canada.
How Can I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it quite straight forward to fund a new account. Just connect the app to a chequing or savings account with your Trade account, and add money to your account in just a few clicks. Deposits from banks to Wealthsimple normally take a couple of days. Funds can also be moved back to your chequing or savings account by using the same process.
What Other Features and Products Are Available?
Wealthsimple Cash – An equivalent to e-transfers which allows anyone to quickly and easily transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you require to prepare for tax season and file your tax return online free. It’s described to be simple, accurate and always totally free tax return filing.
Wealthsimple Spend – A hybrid prepaid debit card and savings product that allows one to get 1% cashback on all your everyday spending, and also earn a competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform that offers a ton of different courses on saving, investing, crypto, mortgages and more.
Every one of the above products, along with Wealthsimple Trade may be found within the mobile app or at their site with one login.
But How do I Begin With Wealthsimple Trade?
Click here to signup for a Wealthsimple Trade account. For a special registration bonus offer to our readers you will receive the equivalent cash value of a Canadian stock worth up to $4,500 Canadian as soon as you fund your account.
What if I Still Have Additional Questions Concerning Close Wealthsimple Account?
If this review still hasn’t given you the answers to each of your questions, and you’re still browsing for further facts about Close Wealthsimple Account, go to the Wealthsimple website for answers to every one of your questions.