What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian online Financial, stock and crypto trading app that differentiates itself from the competition by charging absolutely no fees.
A leading Canadian online financial services company launched in Fall 2014 exclusively as a robo advisor automated trading app named Wealthsimple Invest, it has evolved substantially over the last 8 years to feature Wealthsimple Trade, a zero fees discount brokerage app.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade allows consumers to trade both individual stocks and also ETFs without needing to pay any commissions. The exception is when you’re trading stocks and ETFs that are denominated in US Dollars. In that case, they will charge a currency conversion fee both when buying and selling. However, past us are the times of having to pay Upwards of $7 per trade with online discount brokerages as was the norm only a couple years ago.
How Much Cash Will I Need to Start on Wealthsimple Trade?
Wealthsimple is awesome in that they allow new customers to make a minimum deposit of just $1. The majority of alternative banks and brokerages have sizeable initial deposit amounts of 1k-5K. This makes it tough for the typical investor to start investing. With Wealthsimple Trade, you won’t have to already be wealthy to get started with trading stocks and ETFs.
Does Wealthsimple Trade Have RRSP Accounts?
Yes. Wealthsimple Trade has available CRA registered and non-registered accounts. One are able to choose between both RRSP and TFSA accounts in the setup process.
But Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade offers a convenient mobile app offered to download on IOS and Google Play. The smartphone app makes the signup process and the trading of stocks and ETFs simple.
Is Wealthsimple Trade Safe?
Most definitely. Wealthsimple Trade is secure. Wealthsimple has in excess of 15 billion Canadian of Assets Under Management . This company has been expanding for more than 7 years and also employs roughly 600 Canadians. The majority shareholder is the admired public Canadian company Power Corp of Canada. Weapthsimple Trade was the very first no-fees online brokerage to operate in Canada.
But How Do I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it easy to add money to a new account. Just connect a chequing or savings account to your Trade account, then add funds to your account in just a couple of steps. Deposits from your bank to Wealthsimple typically take just a few days. Funds can the same way can be moved to your chequing or savings accounts by using the same process.
Which Other Features and Products Are Available?
Wealthsimple Cash – This is alternative to Interac E-Transfers that allows anyone 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 submit your taxes online free. It’s advertised as simple, accurate and always free tax filing.
Wealthsimple Spend – A combination prepaid debit card and savings product that allows one to earn 1% cashback on all your purchases, and also earn a very competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform that includes a variety of different online courses on saving, investments, crypto, real estate and more.
Every one of the above products, including Wealthsimple Trade may be accessed in the app and on the website with one login.
How do I Start Using Wealthsimple Trade?
Click here to signup for your Wealthsimple Trade account. For an exclusive registration bonus offer to our readers you will get the equivalent cash value of a Canadian stock valued at up to $4,500 CAD once you add funds to your account.
But What if I Still Have Additional Questions Concerning Wealthsimple Drip?
If this review still hasn’t given you the answers to each of your questions, and you’re browsing for further information about Wealthsimple Drip, visit the Wealthsimple website for answers to every one of your questions.