What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian online investing, stock and crypto trading platform that differentiates itself from similar apps by charging absolutely no fees.
A Toronto, Ontario based online financial services company founded in Autumn of twenty fourteen exclusively as a robo advisor trading app called Wealthsimple Invest, it has changed substantially over the last 8 years to include Wealthsimple Trade, a no fee discount brokerage service.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade allows investors trade both stand alone stocks and also ETFs without paying commissions. The exception to this is when you’re trading stocks and ETFs which are displayed in US Dollars. In this case, they will charge a nominal currency conversion fee when buying and selling. But, past us are the times of having to pay Upwards of $7 per trade with discount brokerages as was expected a few years past.
Exactly How Much in Funds Will I Need to Have to Begin Investing on Wealthsimple Trade?
Wealthsimple is cool such that they will allow Canadians to make a minimum deposit of only $1. Many traditional banks and brokerages have quite large initial deposit amounts of 1k-$5000. This makes it impossible for the every day new investor to start investing. With Wealthsimple Trade, you don’t need to be wealthy to begin trading stocks and ETFs.
Does Wealthsimple Trade Have RRSP Accounts?
It does. Wealthsimple Trade has available registered and non-registered account types. You are able to select both RRSP and TFSA accounts during the setup wizard.
So Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade offers a convenient mobile app offered to download on both IOS and also Google Play. The mobile app makes the registration steps and trading of stocks and ETFs very easy.
So Is Wealthsimple Trade Safe?
Yes. Wealthsimple Trade is legit. Wealthsimple boasts over 15 billion Canadian in Assets Under Management . These folks have been operating for more than 7 years and also employs more than 600 Canadians. The controlling owner is the large public Canadian company Power Corp of Canada. Weapthsimple Trade was the very first no-fee online brokerage to operate in Canada.
But How Can I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it quite easy to add money to your new account. Simply connect a chequing or savings account to your Trade account, and then fund your account in simply a few steps. Deposits from your bank to Wealthsimple normally take only a few days. Funds can also be moved back to your chequing or savings accounts with the same method.
Which Other Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is equivalent to Interac e-Transfers which allows one to quickly and efficiently transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you require to prepare for this tax year and submit your taxes online for free. It’s advertised as easy, accurate and always free tax return filing.
Wealthsimple Spend – A combination prepaid visa and savings product which allows you to get 1% cashback on all your everyday purchases, as well as get a competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance platform which offers a variety of online courses on topics like saving, investing, crypto, home buying and more.
Each of the mentioned features, including Wealthsimple Trade may be found in the mobile app or on the website with a single login.
How Can I Begin With Wealthsimple Trade?
Click here to create your Wealthsimple Trade account. For a special signup bonus offer to our readers you’ll get the equivalent cash value of a random share valued at $25 up to $4,500 CAD when you fund your account.
What if I Still Have Additional Questions About Wealthsimple Globe And Mail?
If this review hasn’t given you the answers to each of your questions, and you’re still looking for additional information about Wealthsimple Globe And Mail, go to the Wealthsimple site to get answers to every one of your questions.