What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian digital Financial, securities and crypto trading platform that differentiates itself from similar apps by charging no fees.
A online financial services company founded in Fall of twenty fourteen exclusively as a robo-advisor automated trading app called Wealthsimple Invest, it has evolved substantially over the previous eight years to also feature Wealthsimple Trade, a zero fees discount brokerage app.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade lets Canadian investors trade individual stocks and ETFs without having to pay any commissions. The exception to this is when trading ETFs and stocks that are denominated in US Dollars. In this case, they do charge a small currency conversion fee both when buying and selling. However, behind us are the times of having to pay Upwards of $7 per each trade with discount brokerages as was the case only a few years ago.
How Much in Funds Will I Need to Have in Order to Get Started With Wealthsimple Trade?
Wealthsimple is cool in that they allow investors to make a minimum deposit of just $1. Most traditional banks and discount brokerages have large initial deposit amounts of $1,000-$5000. This makes it difficult for the typical investor to start. With Wealthsimple Trade, you won’t have to already be wealthy to start trading stocks and ETFs.
So Does Wealthsimple Trade Have RRSP Accounts?
It does. Wealthsimple Trade has both registered and non-registered account types. You are free to select both RRSP and TFSA account types during the setup phase.
So Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade offers a modern mobile app that is offered on both Apple and Android. The mobile app makes the signup steps and trading of stocks and ETFs incredibly easy.
Is Wealthsimple Trade Legit?
Definitely. Wealthsimple Trade is trustworthy. Wealthsimple boasts over 15 billion CAD of Assets Under Management . They have been operating for more than 7 years and also at this time employs over 600 folks. The majority owner is the admired public Canadian company Power Corp of Canada. Weapthsimple Trade was the very first no-fee online brokerage to operate in Canada.
So How Does One Fund a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it quite straight forward to add funds to your account. Just connect a chequing or savings account with your Trade account, and then add money to your account in only a couple of steps. Deposits from financial institutions to Wealthsimple typically take just a couple of days. Funds can just as easily be withdrawn a chequing or savings account with the exact same steps.
What Additional Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An alternative to Interac E-Transfers which allows one to quickly and efficiently transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for tax season and file your taxes online for free. It’s described as easy, accurate and always totally free income tax filing.
Wealthsimple Spend – A hybrid prepaid debit card and savings product that lets one to recieve 1% cashback on your spending, and also earn a competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform that includes a bunch of online courses on saving, investments, crypto, home buying and more.
All of the mentioned features, along with Wealthsimple Trade may be accessed inside the app or at their website with your Wealthsimple login.
So How Should I Get Started With Wealthsimple Trade?
Click here to signup for a new Wealthsimple Trade account. For a special registration bonus offer for our audience you’ll receive the equivalent cash value of a Canadian stock worth up to $4,500 CAD once you add funds to your account.
What if I Still Have Additional Questions About External Wallet Wealthsimple?
If this article still hasn’t given you the answers to each of your questions, and you’re still browsing for further answers about External Wallet Wealthsimple, go to the Wealthsimple website to get answers to all your questions.