What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian web based investing, stock plus crypto trading platform that distinguishes itself from the competition by charging no fees.
A leading Canadian fintech business launched in the Fall of 2014 exclusively as a robo advisor algorithmic trading platform named Wealthsimple Invest, it has evolved substantially over the past eight years to include Wealthsimple Trade, a zero fee discount brokerage platform.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade lets investors to trade both single stocks and also ETFs without paying any commissions. The exception is when you’re trading securities that are denominated in US Dollars. In this case, they charge a nominal currency conversion fee when buying and selling. But, behind us are the times of having to pay Upwards of $7 for each trade with discount brokerages as was normal only a couple years ago.
Exactly How Much Cash do I Need to Have to Start Investing With Wealthsimple Trade?
Wealthsimple is unique such that they allow Canadians to make a minimum deposit of just $1. The majority of alternative banks and discount brokerages have large minimum deposit amounts of $1,000-$5000. This makes it tough for the common investor to start. With Wealthsimple Trade, you don’t have to be wealthy to get started with trading stocks and ETFs.
But Does Wealthsimple Trade Offer RRSP Accounts?
It does. Wealthsimple Trade has both registered and non-registered accounts. One are able to choose both RRSP and TFSA account types in the setup phase.
So Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade has a easy to use mobile app that is available to download on both iOS and also Android. The app makes the signup phase and the trading of stocks and ETFs very a breeze.
So Is Wealthsimple Trade Secure?
Of course. Wealthsimple Trade is trustworthy. Wealthsimple reports over 15 billion CAD in Assets Under Management . They have been operating for more than 7 years and now employs about 600 folks. The majority owner is the admired public Canadian corporation Power Corp of Canada. Weapthsimple Trade is the first no-fee digital discount brokerage to operate in Canada.
But How Do I Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it very easy to fund a new account. Simply connect the app to a chequing or savings account to your Trade account, and fund your account in just a couple of clicks. Deposits from financial institutions to Wealthsimple usually take just a few days. Funds can also be moved back to a chequing or savings account through the same steps.
Which Additional Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – An equivalent to E-Transfers that allow you to quickly and efficiently send money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to get ready for this tax season and submit your taxes online free. It’s described as simple, accurate and always free tax return filing.
Wealthsimple Spend – A combination pre paid visa and savings product that lets you to recieve 1% cashback on all your spending, and also get a competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform that includes a bunch of online courses on different topics such as saving, investments, crypto, mortgages and more.
All of the mentioned products, including Wealthsimple Trade can be found on the app or on their site with one login.
So How do I Start Using Wealthsimple Trade?
Click here to create your Wealthsimple Trade account. For a special signup bonus offer to our readers you will get the cash value of a stock worth $25 up to $4,500 CAD as soon as you add funds to your account.
But What if I Still Have Questions Related to Giving Sin To Wealthsimple?
If this review hasn’t given you the answers to each of your questions, and you’re still searching for more information about Giving Sin To Wealthsimple, visit the Wealthsimple website for answers to every one of your questions.