What is Wealthsimple?
Wealthsimple is a simple to use Canadian online investing, securities plus crypto trading app that distinguishes itself from other apps by charging absolutely no fees.
A leading Canadian fintech company founded in Fall 2014 originally as a robo-advisor automated trading platform named Wealthsimple Invest, it has changed substantially over the previous 8 years to also feature Wealthsimple Trade, a no fees discount brokerage app.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade allows investors trade stand alone stocks and also ETFs without needing to pay any commissions. The exception to this is when trading stocks and ETFs which are listed in US Dollars. In this case, they will charge a nominal currency conversion fee both when buying and selling. But, behind us are the days of paying more than $7 per each trade with digital discount brokerages as was the norm just a few years past.
Exactly How Much Cash Will I Need to Have in Order to Start With Wealthsimple Trade?
Wealthsimple is cool in that they allow Canadian investors to make a minimum deposit of just $1. The majority of traditional banks and brokerages have large min deposit amounts of $1000-5k. This makes it tough for the everyday investor to start. With Wealthsimple Trade, one doesn’t need to be wealthy to start trading stocks and ETFs.
So Does Wealthsimple Trade Have RRSP Accounts?
Of course. Wealthsimple Trade has available CRA registered and non-CRA-registered account types. One are free to choose between both RRSP and TFSA account types in the setup phase.
Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade offers a modern mobile app that is available to download on both iOS and also Google Play. The mobile app makes the enrollment process and also the trading of stocks and ETFs incredibly a breeze.
So Is Wealthsimple Trade Safe?
Most definitely. Wealthsimple Trade is trustworthy. Wealthsimple reports over 15 billion CAD in Assets Under Management (AUM). They have been doing business for more than 7 years and also right now employs more than 600 Canadians. The main owner is the respected publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade was the first no-fee digital brokerage to operate in Canada.
How Do I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it very simple to add funds to an account. Just connect to a chequing or savings account with your Trade account, then add money to your account in only a few clicks. Deposits from your bank to Wealthsimple normally take just a couple of days. Funds can also be moved to a chequing or savings accounts by using the exact same steps.
What Other Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An alternative to E-Transfers which allow you to quickly and simply send cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to get ready for tax season and submit your tax return online free. It’s pitched to be easy, accurate and always totally free tax return filing.
Wealthsimple Spend – A hybrid pre paid visa and savings product that allows one to get 1% cashback on your everyday spending, and also earn a competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform which includes a variety of different courses on topics like saving, investments, crypto, real estate and much more.
Every one of the listed products, along with Wealthsimple Trade may be accessed inside the app and on the website with one login.
But How Should I Get Started With Wealthsimple Trade?
Click here to setup a new Wealthsimple Trade account. For an exclusive signup bonus to our readers you’ll receive the cash value of a Canadian stock worth $25 up to $4,500 CAD as soon as you add funds to your account.
So What if I Still Have Additional Questions About Wealthsimple Gift Card?
If this review hasn’t answered all of your questions, and you’re browsing for further facts relating to Wealthsimple Gift Card, go to the Wealthsimple website to find answers to every one of your questions.