What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian digital investing, securities plus crypto trading app that differentiates itself from the competition by charging no fees.
A leading Canadian online financial services company launched in the Autumn 2014 exclusively as a robo-advisor automated trading app called Wealthsimple Invest, it has evolved considerably over the past eight years to also feature Wealthsimple Trade, a zero fees discount brokerage app.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade lets Canadian investors trade stand alone stocks and also ETFs without needing to pay fees. The exception to this is when trading ETFs and stocks which are denominated in USD currency. In that case, they will charge a small currency conversion fee both when buying and selling. However, gone are the days of having to pay Upwards of $7 for each trade with digital discount brokerages as was normal only a couple years past.
Exactly How Much Money Will I Need to Have to Begin Investing on Wealthsimple Trade?
Wealthsimple is cool in that they will allow Canadians to make a minimum deposit of only $1. Most alternative banks and brokerages have sizeable initial deposit amounts of 1K-$5,000. This makes it hard for the common new investor to start. With Wealthsimple Trade, you won’t have to already be wealthy to start trading stocks and ETFs.
So Does Wealthsimple Trade Have RRSP Accounts?
They do. Wealthsimple Trade has available CRA registered and non-CRA-registered accounts. You are free to select both RRSP and TFSA accounts in the setup phase.
But Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade has a modern mobile app available on both Apple and also Google Play. The smartphone app makes the enrollment process and trading of stocks and ETFs super painless.
So Is Wealthsimple Trade Trustworthy?
. Wealthsimple Trade is secure. Wealthsimple has more than 15 billion CAD in Assets Under Management (AUM). they’ve been in business for more than 7 years and at this time employs over 600 folks. The controlling owner is the publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the first no-fee online discount brokerage to operate in Canada.
But How Can I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it so simple to add money to your account. Simply connect the app to a chequing or savings account with your Trade account, and add money to your account in just a few clicks. Deposits from banks to Wealthsimple typically take only a few days. Funds can also be moved back to your chequing or savings accounts with the exact same steps.
Which Other Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is equivalent to e-Transfers that allows anyone to quickly and efficiently send cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to get ready for this tax year and file your tax return online for free. It’s described as simple, accurate and always totally free income tax filing.
Wealthsimple Spend – A combination prepaid debit card and savings product that allows you to recieve 1% cashback on your everyday spending, and also get a very competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform that offers a variety of different online courses on topics like saving, investments, crypto, real estate and more.
All of the listed products, including Wealthsimple Trade may be accessed in the app and on the site with your Wealthsimple login.
But How Can I Get Started Using Wealthsimple Trade?
Click here to signup for your Wealthsimple Trade account. For an exclusive signup bonus offer to our audience you will get the cash value of a stock valued at up to $4,500 Canadian once you add funds to your account.
So What if I Still Have Questions About Wealthsimple Hiring?
If this blog post still hasn’t answered all of your questions, and you’re still looking for additional info relating to Wealthsimple Hiring, check out the Wealthsimple site to get answers to every one of your questions.