What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian web based Financial, securities and crypto trading platform that distinguishes itself from similar apps by charging no fees.
A fintech business founded in the Autumn of 2014 originally as a robo advisor algorithmic trading app named Wealthsimple Invest, it has evolved significantly over the previous eight years to feature Wealthsimple Trade, a zero fee discount brokerage service.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade lets consumers to trade both stand alone stocks and ETFs without needing to pay any fees. The exception to this is when you’re trading securities that are displayed in US Dollars. In which case, they do charge a nominal currency conversion fee when buying and selling. But, behind us are the days of paying Upwards of $7 for each trade with discount brokerages as was normal a few years ago.
Exactly How Much in Funds Will I Need to Start Investing on Wealthsimple Trade?
Wealthsimple is cool in that they allow new customers to make a minimum deposit of just $1. The majority of traditional banks and discount brokerages have quite large initial deposit amounts of 1k-5K. This makes it hard for the everyday new investor to get started. With Wealthsimple Trade, you won’t need to be wealthy to begin trading stocks and ETFs.
Does Wealthsimple Trade Have RRSP Accounts?
It does. Wealthsimple Trade has both CRA registered and non-registered accounts. You are able to select between both RRSP and TFSA account types in the setup process.
So Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade offers a convenient mobile app that is available to download on both Apple and Google Play. The app makes the registration steps and trading of stocks and ETFs incredibly a breeze.
But Is Wealthsimple Trade Trustworthy?
Of course. Wealthsimple Trade is safe. Wealthsimple reports more than 15 billion CAD of Assets Under Management . This company has been doing business for more than 7 years and also now employs roughly 600 Canadians. The controlling shareholder is the publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the very first no-fees digital brokerage operating in Canada.
So How Does One Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it incredibly simple to add money to an account. Simply connect the app to a chequing or savings account to your Trade account, and then add money to your account in only a few steps. Deposits from your bank to Wealthsimple normally take a couple of days. Funds can the same way can be withdrawn your chequing or savings accounts through the exact same process.
Which Other Benefits and Products Are Available?
Wealthsimple Cash – An equivalent to E-Transfers which allows anyone to quickly and easily send money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to get ready for tax season and submit your tax return online free. It’s described as simple, accurate and always totally free tax return filing.
Wealthsimple Spend – A combination pre paid visa and savings product that lets one to earn 1% cashback on your spending, as well as earn a competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform that includes a variety of courses on different topics such as saving, investing, crypto, home buying and much more.
Each of the listed features, including Wealthsimple Trade may be accessed on the app or on the site with one login.
But How Can I Begin Using Wealthsimple Trade?
Click here to setup a new Wealthsimple Trade account. For a special signup bonus to our audience you will get the equivalent cash value of a stock valued at up to $4,500 Canadian as soon as you make an initial deposit to your account.
But What if I Still Have Additional Questions Related to Koho Vs Wealthsimple Cash?
If this article hasn’t given you the answers to each of your questions, and you’re searching for more specific answers about Koho Vs Wealthsimple Cash, check out the Wealthsimple website to get answers to each your questions.