What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian online Financial, stocks and crypto trading platform that sets itself apart from similar apps by charging no fees.
A Toronto, Ontario based online financial services company launched in Fall of twenty fourteen exclusively as a robo-advisor trading app called Wealthsimple Invest, it has evolved substantially over the previous 8 years to also include Wealthsimple Trade, a zero fees discount brokerage service.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade allows Canadian investors trade individual stocks and ETFs without having to pay commissions. The exception is when you’re trading securities which are listed in USD. In that case, they charge a small currency conversion fee both when buying and selling. However, past us are the days of having to pay Upwards of $7 per each trade with digital discount brokerages as was normal a few years past.
Exactly How Much in Funds Will I Need to Begin Investing on Wealthsimple Trade?
Wealthsimple is cool such that they will allow new customers to make a minimum deposit of just $1. Many alternative banks and brokerages have sizeable minimum deposit amounts of $1000-5k. This makes it hard for the common new investor to start. With Wealthsimple Trade, you don’t have to be wealthy to begin trading stocks and ETFs.
But Does Wealthsimple Trade Have RRSP Accounts?
Yes. Wealthsimple Trade has both CRA registered and non-CRA-registered account types. One can choose both RRSP and TFSA account types in the setup phase.
Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade offers a easy to use mobile app that is offered to download on both Apple and also Google Play. The smartphone app makes the registration phase and also trading of stocks and ETFs painless.
Is Wealthsimple Trade Trustworthy?
Of course. Wealthsimple Trade is safe. Wealthsimple reports more than 15 billion Canadian of Assets Under Management (AUM). This company has been doing business for more than 7 years and right now employs roughly 600 people. The majority shareholder is the publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the very first no-fees digital brokerage to operate in Canada.
But How Does One Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it incredibly straight forward to fund your account. Just connect to a chequing or savings account with your Trade account, and then fund your account in just a couple of steps. Deposits from banks to Wealthsimple normally take a couple of days. Funds can also be withdrawn your chequing or savings account by the exact same method.
What Additional Benefits and Products Are Available?
Wealthsimple Cash – An alternative to Interac E-transfers that allows you to quickly and easily transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for tax year and file your taxes online for free. It’s advertised to be easy, accurate and always totally free tax return filing.
Wealthsimple Spend – A hybrid pre paid visa and savings account that allows you to get 1% cashback on all your spending, as well as get a very competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform that includes a bunch of courses on topics like saving, investments, crypto, real estate and much more.
Every one of the listed products, including Wealthsimple Trade may be accessed in the mobile app or at their site with your Wealthsimple login.
So How do I Start Using Wealthsimple Trade?
Click here to register for a new Wealthsimple Trade account. As an exclusive signup bonus offer for our audience you’ll get the equivalent cash value of a random Canadian stock worth $25 up to $4,500 CAD when you fund your account.
What if I Still Have Questions Concerning Globe And Mail Wealthsimple?
If this article still hasn’t answered each of your questions, and you’re browsing for additional info relating to Globe And Mail Wealthsimple, check out the Wealthsimple site to find answers to every one of your questions.