What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian web based Financial, stocks plus crypto trading app that differentiates itself from the competition by charging no fees.
A Toronto, Ontario based online financial services company founded in Fall twenty fourteen exclusively as a robo advisor automated trading app called Wealthsimple Invest, it has evolved substantially over the previous 8 years to also include Wealthsimple Trade, a no fee discount brokerage service.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade allows Canadian investors trade individual stocks and also ETFs without having to pay commissions. The exception to this is when you’re trading ETFs and stocks that are denominated in US Dollars. In that case, they do charge a nominal currency conversion fee both when buying and selling. But, past us are the days of having to pay more than $7 for each trade with discount brokerages as was the norm a few years past.
How Much Money do I Need to Have to Get Started on Wealthsimple Trade?
Wealthsimple is unique such that they will allow investors to make a minimum deposit of only $1. The majority of alternative banks and brokerages have sizeable initial deposit amounts of 1k-$5,000. This makes it tough for the typical new investor to start. With Wealthsimple Trade, you don’t need to already be wealthy to start trading stocks and ETFs.
So Does Wealthsimple Trade Have RRSP Accounts?
It does. Wealthsimple Trade offers registered and non-registered accounts. One are free to choose between both RRSP and TFSA accounts in the setup process.
But Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade has a well designed mobile app that is offered to download on iOS and also Android. The app makes the signup process and trading of stocks and ETFs truly a breeze.
But Is Wealthsimple Trade Safe?
. Wealthsimple Trade is trustworthy. Wealthsimple boasts in excess of 15 billion Canadian in Assets Under Management . This company has been doing business for more than 7 years and also employs about 600 people. The controlling shareholder is the public Canadian corporation Power Corp of Canada. Weapthsimple Trade is the first no-fee digital discount brokerage operating in Canada.
How Does One Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it very simple to add funds to an account. Simply connect a chequing or savings account with your Trade account, then add funds to your account in simply a few clicks. Deposits from financial institutions to Wealthsimple usually take just a few days. Funds can also be moved back to a chequing or savings accounts by using the exact same method.
Which Other Features and Products Are Available?
Wealthsimple Cash – This is equivalent to E-Transfers which allow one to quickly and efficiently send money to friends and family in Canada.
Wealthsimple Tax – Everything you need to prepare for this tax year and file your tax return online free. It’s pitched to be simple, accurate and always totally free tax return filing.
Wealthsimple Spend – A hybrid pre paid visa and savings product that lets you to get 1% cashback on all your everyday 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 offers a bunch of different courses on different topics such as saving, investing, crypto, real estate and much more.
Every one of the listed features, including Wealthsimple Trade may be accessed in the mobile app or at their site with a single login.
But How Should I Get Started Using Wealthsimple Trade?
Click here to signup for a new Wealthsimple Trade account. For an exclusive registration bonus to our readers you will get the cash value of a stock worth up to $4,500 CAD when you deposit to your account.
But What if I Still Have Additional Questions About Gold Wealthsimple?
If this blog post didn’t given you the answers to each of your questions, and you’re browsing for further specific info relating to Gold Wealthsimple, visit the Wealthsimple website to find answers to every one of your questions.