What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian web based investing, stocks and crypto trading web app that sets itself apart from the competition by charging no fees.
A fintech business founded in Fall twenty fourteen originally as a robo advisor trading app called Wealthsimple Invest, it has grown significantly over the last 8 years to also feature Wealthsimple Trade, a zero fee discount brokerage app.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade allows Canadian investors to trade stand alone stocks and also ETFs without needing to pay any fees. The exception is when you’re trading stocks and ETFs which are displayed in USD. In this case, they do charge a currency conversion fee when buying and selling. However, behind us are the days of having to pay Upwards of $7 for each trade with discount brokerages as was the case just a few years past.
Exactly How Much Cash Will I Need in Order to Get Started on Wealthsimple Trade?
Wealthsimple is awesome in that they allow new customers to make a minimum deposit of just $1. Most traditional banks and discount brokerages have sizeable min deposit amounts of 1K-$5,000. This makes it hard for the common new investor to get started. With Wealthsimple Trade, you don’t have to be wealthy to start trading stocks and ETFs.
So Does Wealthsimple Trade Offer RRSP Accounts?
They do. Wealthsimple Trade offers CRA registered and non-registered accounts. One are able to choose between both RRSP and TFSA accounts during the setup phase.
Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade has a well designed mobile app offered to download on IOS and Android. The smartphone app makes the signup process and also trading of stocks and ETFs very simple.
So Is Wealthsimple Trade Secure?
Definitely. Wealthsimple Trade is secure. Wealthsimple has in excess of 15 billion Canadian in Assets Under Management (AUM). These folks have been in business for more than 7 years and also at this time employs roughly 600 people. The controlling shareholder is the large publicly traded Canadian entity Power Corp of Canada. Weapthsimple Trade is the first no-fees online discount brokerage operating in Canada.
So How Can I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it straight forward to fund your new account. Just connect the app to a chequing or savings account with your Trade account, and fund your account in only a couple of steps. Deposits from banks to Wealthsimple usually take a couple of days. Funds can also be withdrawn your chequing or savings account through the exact same method.
What Additional Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is alternative to E-Transfers that allow one to quickly and efficiently transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you require to prepare for this tax year and submit your taxes online free. It’s advertised to be easy, accurate and always totally free tax return filing.
Wealthsimple Spend – A combination prepaid visa and savings account that lets one to earn 1% cashback on all your spending, as well as earn a very competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform which includes a variety of different courses on saving, investing, crypto, home buying and much more.
Each of the listed products, along with Wealthsimple Trade can be accessed within the mobile app and on the site with your Wealthsimple login.
How do I Start With Wealthsimple Trade?
Click here to register for a new Wealthsimple Trade account. As a special registration bonus to our audience you’ll get the equivalent cash value of a share valued at up to $4,500 CAD as soon as you fund your account.
So What if I Still Have Additional Questions Related to Getting Started With Wealthsimple?
If this blog post didn’t given you the answers to all of your questions, and you’re still browsing for further specific answers relating to Getting Started With Wealthsimple, go to the Wealthsimple website to get answers to every one of your questions.