What is Wealthsimple?
Wealthsimple is a simple to use Canadian online investing, stocks and crypto trading web app that differentiates itself from other apps by charging absolutely no fees.
A Toronto, Ontario based fintech business founded in the Autumn of 2014 exclusively as a robo-advisor trading platform named Wealthsimple Invest, it has changed significantly over the previous eight years to also include Wealthsimple Trade, a no fees discount brokerage service.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade lets investors to trade both single stocks and also ETFs without needing to pay fees. The exception to this is when you’re trading stocks which are denominated in USD. In which case, they will charge a 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 only a few years past.
How Much Money do I Need to Have to Start on Wealthsimple Trade?
Wealthsimple is unique in that they allow Canadians to make a minimum deposit of just $1. Many traditional banks and discount brokerages have quite large minimum deposit amounts of $1000-$5,000. This makes it hard for the everyday new investor to start. With Wealthsimple Trade, one doesn’t need to already be wealthy to begin trading stocks and ETFs.
Does Wealthsimple Trade Offer RRSP Accounts?
Of course. Wealthsimple Trade has available CRA registered and non-CRA-registered accounts. One are free to select between both RRSP and TFSA account types during the setup wizard.
Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade offers a convenient mobile app offered on IOS and Android. The app makes the signup process and also the trading of stocks and ETFs simple.
So Is Wealthsimple Trade Legit?
For sure. Wealthsimple Trade is safe. Wealthsimple reports in excess of 15 billion CAD in Assets Under Management . They have been expanding for more than 7 years and now employs about 600 folks. The controlling shareholder is the respected public Canadian entity Power Corp of Canada. Weapthsimple Trade is the first no-fees digital discount brokerage operating in Canada.
But How Do I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it incredibly simple to add money to a new account. Just connect a chequing or savings account with your Trade account, and then add money to your account in simply a couple of steps. Deposits from financial institutions to Wealthsimple usually take just a few days. Funds can just as easily be moved to a chequing or savings accounts by the exact same process.
Which Additional Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – An equivalent to e-Transfers which allow anyone to quickly and efficiently send cash to friends and family in Canada.
Wealthsimple Tax – Everything you require to prepare for tax year and submit your taxes online free. It’s advertised to be simple, accurate and always totally free tax filing.
Wealthsimple Spend – A hybrid prepaid debit card and savings account which allows you to get 1% cashback on your everyday purchases, as well as get a very competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform that offers a variety of different courses on different topics such as saving, investments, crypto, mortgages and much more.
All of the above features, including Wealthsimple Trade may be accessed within the app and at the site with a single login.
But How do I Start With Wealthsimple Trade?
Click here to create a Wealthsimple Trade account. As a special signup bonus offer for our readers you will receive the equivalent cash value of a random share worth $25 up to $4,500 CAD as soon as you add funds to your account.
What if I Still Have Additional Questions About Wealthsimple Github?
If this review didn’t answered all of your questions, and you’re still looking for additional specific facts relating to Wealthsimple Github, visit the Wealthsimple site to get answers to each your questions.