What is Wealthsimple?
Wealthsimple is an easy to use Canadian online Financial, stocks and crypto trading app that sets itself apart from similar apps by charging absolutely no fees.
A leading Canadian online financial services business launched in Autumn of twenty fourteen originally as a robo-advisor algorithmic trading app named Wealthsimple Invest, it has evolved substantially over the previous eight years to also feature Wealthsimple Trade, a zero fee discount brokerage platform.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade allows consumers to trade single stocks and ETFs without needing to pay any commissions. The exception is when you’re trading stocks and ETFs that are displayed in US Dollars. In this case, they will charge a nominal currency conversion fee both when buying and selling. However, past us are the times of paying $7-12 per trade with discount brokerages as was the case a couple years past.
Exactly How Much in Funds Will I Need to Have to Get Started With Wealthsimple Trade?
Wealthsimple is special in that they allow investors to make a minimum deposit of only $1. Many traditional banks and brokerages have large initial deposit amounts of $1000-5K. This makes it impossible for the every day investor to start investing. With Wealthsimple Trade, you won’t need to already be wealthy to start trading stocks and ETFs.
So Does Wealthsimple Trade Have RRSP Accounts?
They do. Wealthsimple Trade has registered and non-CRA-registered accounts. You are able to choose between both RRSP and TFSA accounts in the setup process.
So Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade offers a well designed mobile app that is offered to download on iOS and also Android. The mobile app makes the enrollment steps and also the trading of stocks and ETFs very simple.
So Is Wealthsimple Trade Safe?
Of course. Wealthsimple Trade is safe. Wealthsimple boasts over 15 billion Canadian of Assets Under Management (AUM). They have been in business for more than 7 years and also at this time employs about 600 Canadians. The primary shareholder is the large publicly traded Canadian entity Power Corp of Canada. Weapthsimple Trade was the first no-fees digital brokerage to operate in Canada.
How Does One Fund a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it so simple to fund an account. Simply connect the app to a chequing or savings account to your Trade account, and add money to your account in simply a couple of steps. Deposits from financial institutions to Wealthsimple typically take just a couple of days. Funds can just as easily be moved back to a chequing or savings account by using the exact same process.
Which Other Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – An alternative to Interac e-Transfers which allows you to quickly and easily send money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to get ready for tax season and submit your taxes online for free. It’s described as simple, accurate and always totally free tax filing.
Wealthsimple Spend – A hybrid pre paid visa and savings account that allows one to earn 1% cashback on all your purchases, and also earn a competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform that offers a bunch of different courses on different topics such as saving, investments, crypto, mortgages and more.
Every one of the above features, along with Wealthsimple Trade can be accessed inside the app and from their website with one login.
But How Should I Start With Wealthsimple Trade?
Click here to create a Wealthsimple Trade account. As a special registration bonus offer to our readers you’ll get the equivalent cash value of a random stock valued at up to $4,500 Canadian as soon as you add funds to your account.
What if I Still Have Questions Related to Wealthsimple Facebook?
If this review still hasn’t given you the answers to all of your questions, and you’re looking for additional information about Wealthsimple Facebook, check out the Wealthsimple website to get answers to all your questions.