What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian online investing, securities plus crypto trading platform that sets itself apart from other apps by charging no fees.
A Toronto, Ontario based online financial services company launched in Fall 2014 exclusively as a robo advisor trading platform called Wealthsimple Invest, it has improved substantially over the past 8 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 individual stocks and also ETFs without having to pay fees. The exception is when you’re trading stocks and ETFs which are listed in US Dollars. In this 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 expected a few years ago.
Exactly How Much Money Will I Need in Order to Start With Wealthsimple Trade?
Wealthsimple is unique in that they allow Canadian investors to make a minimum deposit of only $1. The majority of traditional banks and discount brokerages have quite large min deposit amounts of 1K-5K. This makes it impossible for the normal new investor to get started. With Wealthsimple Trade, one doesn’t need to already be wealthy to get started with trading stocks and ETFs.
Does Wealthsimple Trade Have RRSP Accounts?
They do. Wealthsimple Trade has available registered and non-registered accounts. One are able to choose both RRSP and TFSA account types in the setup process.
Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade has a modern mobile app available to download on iOS and also Google Play. The smartphone app makes the registration phase and also the trading of stocks and ETFs painless.
So Is Wealthsimple Trade Safe?
Definitely. Wealthsimple Trade is trustworthy. Wealthsimple boasts more than 15 billion CAD in Assets Under Management . This company has been in business for more than 7 years and now employs roughly 600 people. The primary shareholder is the public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the very first no-fees digital discount brokerage to operate in Canada.
But How Do I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it very simple to add money to your new account. Simply connect the app to a chequing or savings account to your Trade account, then fund your account in just a couple of clicks. Deposits from your bank to Wealthsimple normally take a few days. Funds can the same way can be moved back to a chequing or savings account by the exact same steps.
Which Other Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – An equivalent to E-Transfers that allow anyone to quickly and simply transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you require to get ready for this tax season and file your taxes online free. It’s pitched as easy, accurate and always totally free income tax filing.
Wealthsimple Spend – A combination pre paid visa and savings account that allows one to earn 1% cashback on all your spending, and also earn a competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform that includes a ton of different courses on saving, investing, crypto, real estate and more.
Each of the above features, along with Wealthsimple Trade may be found on the mobile app and from the site with a single login.
How Can I Start With Wealthsimple Trade?
Click here to create a Wealthsimple Trade account. For an exclusive registration bonus offer to our readers you will get the equivalent cash value of a random share worth up to $4,500 Canadian once you fund your account.
But What if I Still Have Additional Questions Related to Wealthsimple Head Office?
If this article still hasn’t given you the answers to each of your questions, and you’re still browsing for more answers about Wealthsimple Head Office, check out the Wealthsimple site to find answers to every one of your questions.