What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian digital Financial, stocks plus crypto trading web app that sets itself apart from other apps by charging absolutely no fees.
A online financial services company founded in Autumn twenty fourteen originally as a robo-advisor algorithmic automated trading platform named Wealthsimple Invest, it has evolved significantly over the previous eight years to also feature Wealthsimple Trade, a no fee discount brokerage service.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade allows investors to trade both single stocks and also ETFs without needing to pay commissions. The exception is when trading securities that are listed in US Dollars. In this case, they will charge a nominal currency conversion fee both when buying and selling. However, gone are the times of paying $7-12 per each trade with online discount brokerages as was expected a couple years past.
Exactly How Much in Funds do I Need in Order to Get Started With Wealthsimple Trade?
Wealthsimple is awesome such that they allow Canadian investors to make a minimum deposit of only $1. Many traditional banks and discount brokerages have large initial deposit amounts of $1000-$5,000. This makes it difficult for the every day new investor to get started. With Wealthsimple Trade, you don’t need to be wealthy to start trading stocks and ETFs.
Does Wealthsimple Trade Have RRSP Accounts?
They do. Wealthsimple Trade has both CRA registered and non-registered accounts. You are free to select between both RRSP and TFSA accounts during the setup phase.
So Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade offers a modern mobile app that is offered on both Apple and also Android. The mobile app makes the signup phase and the trading of stocks and ETFs super simple.
But Is Wealthsimple Trade Trustworthy?
Most definitely. Wealthsimple Trade is safe. Wealthsimple has over 15 billion Canadian of Assets Under Management (AUM). These folks have been expanding for more than 7 years and also currently employs about 600 Canadians. The controlling shareholder is the large publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade is the first no-fee digital brokerage to operate in Canada.
But How Does One Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it very straight forward to fund your account. Simply connect a chequing or savings account with your Trade account, then fund your account in just a few clicks. Deposits from financial institutions to Wealthsimple usually take only a couple of days. Funds can the same way can be moved to a chequing or savings accounts using the same process.
What Other Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – An equivalent to Interac e-Transfers that allow one to quickly and efficiently transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to get ready for tax season and file your tax return online for free. It’s advertised to be easy, accurate and always free tax return filing.
Wealthsimple Spend – A combination pre paid debit card and savings account which allows you to get 1% cashback on all your spending, and also earn a very competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform that offers a ton of different courses on topics like saving, investments, crypto, home buying and much more.
Each of the above products, including Wealthsimple Trade can be found on the app and at their site with a single login.
So How Can I Begin With Wealthsimple Trade?
Click here to setup a new Wealthsimple Trade account. As an exclusive signup bonus offer for our audience you’ll receive the equivalent cash value of a random Canadian stock valued at up to $4,500 CAD once you deposit to your account.
But What if I Still Have Additional Questions Concerning Glassdoor Wealthsimple?
If this review still hasn’t answered all of your questions, and you’re still looking for more specific info about Glassdoor Wealthsimple, check out the Wealthsimple site to find answers to each your questions.