What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian web based investing, securities plus crypto trading platform that sets itself apart from other apps by charging absolutely no fees.
A leading Canadian fintech company launched in the Autumn twenty fourteen exclusively as a robo-advisor automated trading platform named Wealthsimple Invest, it has changed significantly over the last 8 years to feature Wealthsimple Trade, a no fees discount brokerage service.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade allows investors to trade single stocks and also ETFs without paying commissions. The exception to this is when you’re trading stocks and ETFs which are displayed in USD. In that case, they will charge a currency conversion fee both when buying and selling. However, gone are the days of having to pay Upwards of $7 per each trade with digital discount brokerages as was normal just a couple years past.
Exactly How Much Cash Will I Need to Have to Begin Investing With Wealthsimple Trade?
Wealthsimple is unique such that they will allow investors to make a minimum deposit of only $1. Most alternative banks and discount brokerages have sizeable min deposit amounts of 1k-$5,000. This makes it hard for the normal investor to start investing. With Wealthsimple Trade, you don’t need to already be wealthy to start trading stocks and ETFs.
Does Wealthsimple Trade Have Registered Accounts?
Of course. Wealthsimple Trade has available both CRA registered and non-registered account types. You can select between both RRSP and TFSA accounts in the setup process.
But Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade has a easy to use mobile app available to download on both Apple and Google Play. The mobile app makes the signup phase and also the trading of stocks and ETFs truly a breeze.
So Is Wealthsimple Trade Secure?
Definitely. Wealthsimple Trade is legit. Wealthsimple boasts over 15 billion CAD of Assets Under Management . This company has been doing business for more than 7 years and now employs over 600 Canadians. The majority owner is the large publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade was the first no-fee online discount brokerage to operate in Canada.
How Do I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it incredibly straight forward to deposit to your new account. Simply connect the app to a chequing or savings account to your Trade account, and fund your account in only a couple of steps. Deposits from financial institutions to Wealthsimple typically take only a few days. Funds can just as easily be withdrawn a chequing or savings account using the exact same steps.
What Other Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is equivalent to Interac e-Transfers which allow one to quickly and easily send cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for tax year and file your taxes online free. It’s pitched to be easy, accurate and always free tax return filing.
Wealthsimple Spend – A combination prepaid debit card and savings account which lets you to get 1% cashback on all your spending, and also get a competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform which offers a bunch of different courses on topics like saving, investments, crypto, home buying and much more.
All of the above products, along with Wealthsimple Trade may be found within the app or at the website with a single login.
How do I Start With Wealthsimple Trade?
Click here to setup a Wealthsimple Trade account. As a special registration bonus for our audience you’ll get the equivalent cash value of a share valued at $25 up to $4,500 CAD once you add funds to your account.
So What if I Still Have Additional Questions About Contact Wealthsimple?
If this review hasn’t answered all of your questions, and you’re looking for further specific info relating to Contact Wealthsimple, go to the Wealthsimple site to find answers to each your questions.