What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian online Financial, stock and crypto trading app that differentiates itself from the competition by charging no fees.
A fintech company launched in the Fall of twenty fourteen originally as a robo-advisor algorithmic automated trading app named 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 Any Kind of Fees?
Wealthsimple Trade lets consumers trade single stocks and ETFs without needing to pay fees. The exception is when trading stocks and ETFs which are denominated in USD. In this case, they charge a currency conversion fee both when buying and selling. However, past us are the times of paying $7-12 for each trade with discount brokerages as was the norm only a couple years past.
How Much Cash Will I Need to Have in Order to Get Started on Wealthsimple Trade?
Wealthsimple is awesome in that they will allow new customers to make a minimum deposit of only $1. Many traditional banks and brokerages have sizeable initial deposit amounts of $1000-$5,000. This makes it impossible for the common investor to start. With Wealthsimple Trade, you won’t need to already be wealthy to start trading stocks and ETFs.
So Does Wealthsimple Trade Offer RRSP Accounts?
They do. Wealthsimple Trade has available CRA registered and non-CRA-registered account types. You can choose both RRSP and TFSA account types in the setup wizard.
So Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade has a convenient mobile app that is available on Apple and Android. The mobile app makes the registration process and trading of stocks and ETFs very a breeze.
So Is Wealthsimple Trade Legit?
Most definitely. Wealthsimple Trade is trustworthy. Wealthsimple boasts in excess of 15 billion Canadian of Assets Under Management (AUM). These folks have been doing business for more than 7 years and also at this time employs over 600 people. The primary owner is the large publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade is the first no-fees digital brokerage to operate in Canada.
So How Do I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it quite straight forward to add money to a new account. Just connect to a chequing or savings account to your Trade account, and add funds to your account in simply a couple of steps. Deposits from your bank to Wealthsimple normally take only a few days. Funds can the same way can be moved to a chequing or savings accounts using the exact same process.
What Other Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is equivalent to Interac E-transfers that allow one to quickly and simply transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to prepare for this tax year and file your tax return online free. It’s pitched to be simple, accurate and always free tax filing.
Wealthsimple Spend – A hybrid prepaid debit card and savings account that allows you to get 1% cashback on all your spending, as well as earn a competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform which offers a bunch of courses on saving, investments, crypto, real estate and more.
Each of the above features, including Wealthsimple Trade may be accessed in the mobile app and from the site with a single login.
How Should I Start Using Wealthsimple Trade?
Click here to setup your Wealthsimple Trade account. For a special registration bonus offer to our readers you’ll get the equivalent cash value of a Canadian stock valued at up to $4,500 Canadian once you deposit to your account.
But What if I Still Have Additional Questions About Karen Dixon Wealthsimple?
If this article still hasn’t answered each of your questions, and you’re searching for more information relating to Karen Dixon Wealthsimple, check out the Wealthsimple site for answers to every one of your questions.