What is Wealthsimple?
Wealthsimple is an easy to use Canadian web based Financial, securities and crypto trading app that differentiates itself from the competition by charging no fees.
A leading Canadian online financial services business founded in Autumn 2014 originally as a robo-advisor algorithmic automated trading platform called Wealthsimple Invest, it has grown considerably over the previous 8 years to include Wealthsimple Trade, a no fee discount brokerage app.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade lets Canadian investors trade both individual stocks and ETFs without needing to pay commissions. The exception is when you’re trading securities that are denominated in USD currency. In which case, they will charge a currency conversion fee both when buying and selling. But, behind us are the days of paying Upwards of $7 per each trade with online discount brokerages as was normal a few years past.
Exactly How Much in Funds do I Need to Begin Investing on Wealthsimple Trade?
Wealthsimple is special in that they allow investors to make a minimum deposit of just $1. Most alternative banks and discount brokerages have large minimum deposit amounts of $1000-5k. This makes it tough for the everyday investor to get started. With Wealthsimple Trade, you won’t need to already be wealthy to begin trading stocks and ETFs.
Does Wealthsimple Trade Offer Registered Accounts?
They do. Wealthsimple Trade offers registered and non-registered accounts. One are free to choose between both RRSP and TFSA accounts during the setup phase.
Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade has a well designed mobile app that is offered on Apple and also Google Play. The smartphone app makes the enrollment phase and trading of stocks and ETFs super painless.
Is Wealthsimple Trade Secure?
. Wealthsimple Trade is legit. Wealthsimple has more than 15 billion CAD of Assets Under Management . These folks have been doing business for more than 7 years and now employs more than 600 folks. The controlling owner is the public Canadian corporation Power Corp of Canada. Weapthsimple Trade is the very first no-fee online brokerage operating in Canada.
So How Does One Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it quite easy to add funds to an account. Simply connect to a chequing or savings account with your Trade account, then fund your account in only a few clicks. Deposits from your bank to Wealthsimple usually take a couple of days. Funds can the same way can be withdrawn a chequing or savings account with the exact same process.
Which Additional Features and Products Are Available?
Wealthsimple Cash – An alternative to Interac e-Transfers which allow one to quickly and efficiently send cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for tax year and file your taxes online free. It’s advertised to be simple, accurate and always free tax filing.
Wealthsimple Spend – A hybrid pre paid debit card and savings account that lets you to recieve 1% cashback on all your everyday spending, and also earn a competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform that includes a bunch of courses on different topics such as saving, investments, crypto, home buying and more.
Each of the above features, including Wealthsimple Trade can be accessed inside the app or from their website with one login.
So How Should I Start With Wealthsimple Trade?
Click here to signup for a new Wealthsimple Trade account. As an exclusive signup bonus for our readers you will receive the equivalent cash value of a random share worth $25 up to $4,500 Canadian as soon as you make an initial deposit to your account.
What if I Still Have Additional Questions Concerning How To Transfer Rrsp To Wealthsimple?
If this review still hasn’t given you the answers to each of your questions, and you’re still looking for further information relating to How To Transfer Rrsp To Wealthsimple, visit the Wealthsimple website to get answers to every one of your questions.