What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian web based investing, securities and crypto trading platform that sets itself apart from the competition by charging absolutely no fees.
A leading Canadian fintech company launched in Autumn of twenty fourteen originally as a robo advisor algorithmic automated trading app named Wealthsimple Invest, it has evolved considerably over the last 8 years to also feature Wealthsimple Trade, a zero fee discount brokerage platform.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade lets Canadian investors to trade both stand alone stocks and ETFs without having to pay any fees. The exception is when you’re trading stocks and ETFs that are denominated in USD. In which case, they will charge a currency conversion fee when buying and selling. But, gone are the days of having to pay more than $7 per trade with digital discount brokerages as was normal just a few years past.
How Much Cash Will I Need to Have in Order to Start on Wealthsimple Trade?
Wealthsimple is unique such that they will allow new customers to make a minimum deposit of only $1. The majority of alternative banks and discount brokerages have large initial deposit amounts of 1K-5k. This makes it hard for the typical new investor to get started. With Wealthsimple Trade, you won’t need to be wealthy to get started with trading stocks and ETFs.
So Does Wealthsimple Trade Have TFSA Accounts?
Of course. Wealthsimple Trade offers registered and non-registered accounts. One are able to choose between both RRSP and TFSA accounts in the setup phase.
But Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade has a well designed mobile app that is available to download on both Apple and also Android. The app makes the signup process and also the trading of stocks and ETFs super easy.
Is Wealthsimple Trade Safe?
Yes. Wealthsimple Trade is secure. Wealthsimple reports in excess of 15 billion CAD in Assets Under Management (AUM). These folks have been expanding for more than 7 years and currently employs roughly 600 Canadians. The majority shareholder is the respected publicly traded Canadian entity Power Corp of Canada. Weapthsimple Trade is the first no-fee online brokerage operating in Canada.
How Does One Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it straight forward to fund an account. Just connect the app to a chequing or savings account with your Trade account, and then fund your account in only a few clicks. Deposits from your bank to Wealthsimple normally take a few days. Funds can also be withdrawn a chequing or savings accounts by using the same process.
What Other Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – An equivalent to Interac E-transfers which allow one to quickly and efficiently send money to friends and family in Canada.
Wealthsimple Tax – Everything you require to get ready for tax year and file your tax return online free. It’s pitched to be easy, accurate and always totally free income tax filing.
Wealthsimple Spend – A hybrid pre paid visa and savings account that lets you to recieve 1% cashback on all your purchases, and also earn a competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform that offers a bunch of online courses on saving, investments, crypto, home buying and more.
Each of the listed features, along with Wealthsimple Trade may be accessed in the app and at their website with your Wealthsimple login.
How Should I Start With Wealthsimple Trade?
Click here to register for a Wealthsimple Trade account. As an exclusive signup bonus to our audience you will receive the equivalent cash value of a random share valued at $25 up to $4,500 CAD once you fund your account.
So What if I Still Have Additional Questions Related to Wealthsimple Group Rrsp?
If this review didn’t given you the answers to each of your questions, and you’re browsing for more facts relating to Wealthsimple Group Rrsp, check out the Wealthsimple site to find answers to all your questions.