What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian web based Financial, stock and crypto trading platform that distinguishes itself from other apps by charging no fees.
A leading Canadian fintech business founded in Fall twenty fourteen exclusively as a robo advisor trading app called Wealthsimple Invest, it has grown significantly over the past 8 years to include Wealthsimple Trade, a no fees discount brokerage app.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade lets Canadian consumers trade stand alone stocks and ETFs without paying any commissions. The exception to this is when you’re trading securities which are displayed in US Dollars. In this case, they charge a nominal currency conversion fee both when buying and selling. But, gone are the times of having to pay Upwards of $7 for each trade with online discount brokerages as was the norm a few years ago.
How Much Cash Will I Need to Start on Wealthsimple Trade?
Wealthsimple is awesome such that they allow Canadians to make a minimum deposit of just $1. The majority of alternative banks and brokerages have large initial deposit amounts of 1K-$5000. This makes it tough for the everyday new investor to start. With Wealthsimple Trade, you don’t have to be wealthy to begin trading stocks and ETFs.
So Does Wealthsimple Trade Offer RRSP Accounts?
They do. Wealthsimple Trade offers both CRA registered and non-registered accounts. One may select between both RRSP and TFSA accounts during the setup process.
So Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade has a well designed mobile app that is available to download on Apple and also Android. The mobile app makes the registration process and the trading of stocks and ETFs super painless.
So Is Wealthsimple Trade Secure?
Definitely. Wealthsimple Trade is secure. Wealthsimple reports in excess of 15 billion Canadian of Assets Under Management . These folks have been in business for more than 7 years and currently employs roughly 600 folks. The controlling owner is the admired public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the very first no-fee digital discount brokerage to operate in Canada.
But How Do I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it very easy to fund a new account. Just connect a chequing or savings account to your Trade account, and fund your account in simply a couple of clicks. Deposits from financial institutions to Wealthsimple typically take a couple of days. Funds can also be withdrawn your chequing or savings account through the same method.
Which Other Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is equivalent to Interac e-Transfers which allows one to quickly and simply send cash to friends and family in Canada.
Wealthsimple Tax – Everything you 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 filing.
Wealthsimple Spend – A hybrid pre paid debit card and savings product which allows you to earn 1% cashback on your purchases, and also get a competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform that offers a ton of online courses on saving, investing, crypto, mortgages and more.
Each of the mentioned products, including Wealthsimple Trade may be accessed within the app and on the site with a single login.
How Can I Start With Wealthsimple Trade?
Click here to register for a Wealthsimple Trade account. For a special registration bonus offer to our audience you’ll get the cash value of a share valued at up to $4,500 CAD once you fund your account.
What if I Still Have Additional Questions Concerning Wealthsimple Desktop?
If this article still hasn’t answered each of your questions, and you’re still searching for additional facts about Wealthsimple Desktop, go to the Wealthsimple website for answers to all your questions.