What is Wealthsimple?
Wealthsimple is a simple to use Canadian online investing, securities and crypto trading app that sets itself apart from the competition by charging absolutely no fees.
A Toronto, Ontario based online financial services business launched in Fall of twenty fourteen exclusively as a robo advisor trading app called Wealthsimple Invest, it has changed substantially over the last 8 years to include Wealthsimple Trade, a no fees discount brokerage app.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade lets Canadian consumers trade both individual stocks and ETFs without needing to pay any commissions. The exception to this is when trading stocks which are displayed in US Dollars. In this case, they will charge a currency conversion fee both when buying and selling. But, gone are the days of paying $7-12 for each trade with online discount brokerages as was the case just a few years past.
Exactly How Much Money Will I Need to Have to Begin Investing on Wealthsimple Trade?
Wealthsimple is special such that they allow investors to make a minimum deposit of only $1. Many traditional banks and brokerages have quite large initial deposit amounts of $1000-5K. This makes it difficult for the typical new investor to start investing. With Wealthsimple Trade, you don’t need to be wealthy to start trading stocks and ETFs.
Does Wealthsimple Trade Offer RRSP Accounts?
They do. Wealthsimple Trade has CRA registered and non-CRA-registered account types. One can choose between both RRSP and TFSA account types in the setup process.
So Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade has a convenient mobile app that is offered on iOS and also Google Play. The app makes the registration steps and also trading of stocks and ETFs very painless.
Is Wealthsimple Trade Legit?
Most definitely. Wealthsimple Trade is trustworthy. Wealthsimple has in excess of 15 billion CAD of Assets Under Management (AUM). they’ve been expanding for more than 7 years and also currently employs about 600 Canadians. The majority owner is the respected public Canadian entity Power Corp of Canada. Weapthsimple Trade was the first no-fee online discount brokerage to operate in Canada.
But How Can I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it so straight forward to add money to a new account. Simply connect a chequing or savings account to your Trade account, then add money to your account in only a couple of steps. Deposits from financial institutions to Wealthsimple normally take just a few days. Funds can just as easily be withdrawn your chequing or savings accounts using the same steps.
Which Other Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is alternative to Interac E-transfers which allow one to quickly and easily transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to prepare for this tax year and file your tax return online for free. It’s pitched as simple, accurate and always totally free tax return filing.
Wealthsimple Spend – A hybrid pre paid debit card and savings product that allows you to earn 1% cashback on your everyday spending, and also get a very competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform which includes a ton of different courses on topics like saving, investing, crypto, mortgages and more.
All of the listed features, including Wealthsimple Trade can be found on the mobile app and at the site with your Wealthsimple login.
How Can I Get Started With Wealthsimple Trade?
Click here to signup for a new Wealthsimple Trade account. As an exclusive registration bonus for our audience you’ll get the cash value of a stock worth $25 up to $4,500 Canadian as soon as you deposit to your account.
But What if I Still Have Additional Questions Related to E Transfer To Wealthsimple?
If this blog post still hasn’t answered each of your questions, and you’re still searching for further specific information about E Transfer To Wealthsimple, check out the Wealthsimple site for answers to all your questions.