What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian web based Financial, stock plus crypto trading web app that distinguishes itself from other apps by charging no fees.
A Toronto, Ontario based online financial services business founded in Fall twenty fourteen exclusively as a robo advisor algorithmic trading app called Wealthsimple Invest, it has improved substantially over the past eight years to feature Wealthsimple Trade, a zero fees discount brokerage app.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade allows Canadian investors to trade individual stocks and ETFs without paying fees. The exception is when trading stocks and ETFs which are denominated in US Dollars. In that case, they will charge a small currency conversion fee both when buying and selling. However, gone are the days of paying $7-12 for each trade with discount brokerages as was common a few years past.
Exactly How Much in Funds do I Need in Order to Get Started With Wealthsimple Trade?
Wealthsimple is special such that they allow Canadians to make a minimum deposit of only $1. Most traditional banks and brokerages have large initial deposit amounts of $1000-5k. This makes it difficult for the typical new investor to get started. With Wealthsimple Trade, one doesn’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-CRA-registered account types. One are able to choose between both RRSP and TFSA account types during the setup phase.
But Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade offers a modern mobile app that is available to download on Apple and Android. The smartphone app makes the registration steps and trading of stocks and ETFs super simple.
But Is Wealthsimple Trade Secure?
Of course. Wealthsimple Trade is secure. Wealthsimple reports more than 15 billion Canadian of Assets Under Management (AUM). This company has been expanding for more than 7 years and also at this time employs more than 600 people. The controlling shareholder is the large publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade is the first no-fees online brokerage operating in Canada.
But How Can I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it so straight forward to fund a new account. Just connect the app to a chequing or savings account to your Trade account, and fund your account in simply a couple of clicks. Deposits from banks to Wealthsimple normally take only a couple of days. Funds can the same way can be withdrawn your chequing or savings account with the same process.
Which Other Features and Products Are Available?
Wealthsimple Cash – An equivalent to Interac e-Transfers which allows you to quickly and easily send cash to friends and family in Canada.
Wealthsimple Tax – Everything you require to get ready for tax season and submit your taxes online for free. It’s described to be simple, accurate and always free tax return filing.
Wealthsimple Spend – A hybrid prepaid debit card and savings account that allows you to earn 1% cashback on all your 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 ton of online courses on saving, investing, crypto, home buying and more.
Each of the above products, along with Wealthsimple Trade can be accessed on the mobile app or on the website with one login.
How Can I Get Started With Wealthsimple Trade?
Click here to setup a new Wealthsimple Trade account. As a special registration bonus offer to our audience you will get the cash value of a Canadian stock valued at up to $4,500 CAD once you fund your account.
What if I Still Have Questions About How To Withdraw Money From Wealthsimple?
If this review didn’t answered all of your questions, and you’re browsing for additional information relating to How To Withdraw Money From Wealthsimple, check out the Wealthsimple site for answers to each your questions.