Wealthsimple Drs

What is Wealthsimple?

Wealthsimple is a simple to use Canadian digital investing, stock and crypto trading platform that distinguishes itself from other apps by charging no fees. 

A fintech company launched in the Fall of twenty fourteen originally as a robo advisor automated trading platform called Wealthsimple Invest, it has evolved significantly over the previous eight years to also feature Wealthsimple Trade, a zero fees discount brokerage platform.

Does Wealthsimple Trade Charge Fees?

Wealthsimple Trade lets Canadian investors trade stand alone stocks and ETFs without paying fees. The exception to this is when you’re trading stocks which are listed in US Dollars. In that case, they do charge a nominal currency conversion fee when buying and selling. But, gone are the times of paying $7-12 per each trade with online discount brokerages as was normal a couple years past.

Exactly How Much Money do I Need in Order to Get Started With Wealthsimple Trade?

Wealthsimple is unique such that they will allow Canadians to make a minimum deposit of just $1. The majority of traditional banks and brokerages have large initial deposit amounts of 1k-5k. This makes it tough for the every day new investor to get started. With Wealthsimple Trade, you don’t have to be wealthy to get started with trading stocks and ETFs.

But Does Wealthsimple Trade Have RRSP Accounts?

It does. Wealthsimple Trade has both CRA registered and non-registered accounts. You are able to choose both RRSP and TFSA account types during the setup phase. 

Does Wealthsimple Trade Have a Mobile App?

Yes, Wealthsimple Trade offers a modern mobile app offered on both IOS and also Android. The mobile app makes the signup process and also the trading of stocks and ETFs truly a breeze.

Is Wealthsimple Trade Secure?

Of course. Wealthsimple Trade is trustworthy. Wealthsimple reports over 15 billion Canadian in Assets Under Management (AUM). These folks have been doing business for more than 7 years and right now employs over 600 people. The controlling owner is the large publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade was the first no-fees digital brokerage operating in Canada.

But How Do I Fund a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it straight forward to fund an account. Just connect a chequing or savings account to your Trade account, then fund your account in only a few steps. Deposits from financial institutions to Wealthsimple normally take only a couple of days. Funds can also be moved back to your chequing or savings accounts by using the same steps.

What Additional Features and Products Are Available?

Wealthsimple Cash – An alternative to Interac e-transfers that allow one to quickly and easily send cash to friends and family in Canada.

Wealthsimple Tax – Everything you require to prepare for this tax year and file your taxes online for free. It’s described to be simple, accurate and always free tax filing.

Wealthsimple Spend – A hybrid prepaid visa and savings product that allows you to recieve 1% cashback on all 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 variety of different online courses on different topics such as saving, investments, crypto, home buying and much more. 

Each of the mentioned features, including Wealthsimple Trade can be found inside the app or from their site with a single login.

How Should I Start With Wealthsimple Trade?

Click here to create a Wealthsimple Trade account. As an exclusive signup bonus to our readers you’ll get the cash value of a random Canadian stock valued at $25 up to $4,500 Canadian once you make an initial deposit to your account.

So What if I Still Have Questions Concerning Wealthsimple Drs?

If this review hasn’t answered all of your questions, and you’re still searching for further specific facts about Wealthsimple Drs, go to the Wealthsimple site for answers to all your questions.