What is Wealthsimple?
Wealthsimple is a simple to use Canadian online investing, securities and crypto trading app that differentiates itself from the competition by charging no fees.
A leading Canadian fintech business launched in Fall twenty fourteen originally as a robo advisor algorithmic trading app called Wealthsimple Invest, it has improved significantly over the past 8 years to also feature Wealthsimple Trade, a zero fee discount brokerage app.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade allows consumers trade both stand alone stocks and ETFs without having to pay fees. The exception is when trading ETFs and stocks that are displayed in USD. In that case, they charge a currency conversion fee both when buying and selling. However, behind us are the times of paying Upwards of $7 per trade with discount brokerages as was expected just a few years past.
Exactly How Much in Funds Will I Need to Have to Get Started on Wealthsimple Trade?
Wealthsimple is cool in that they allow investors to make a minimum deposit of only $1. The majority of traditional banks and brokerages have sizeable minimum deposit amounts of 1K-$5,000. This makes it impossible for the everyday new investor to start. With Wealthsimple Trade, one doesn’t need to already be wealthy to start trading stocks and ETFs.
But Does Wealthsimple Trade Have RRSP Accounts?
It does. Wealthsimple Trade offers CRA registered and non-CRA-registered account types. You are free to choose between both RRSP and TFSA accounts in the setup phase.
So Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade offers a convenient mobile app that is available to download on both Apple and also Google Play. The app makes the enrollment process and trading of stocks and ETFs super painless.
So Is Wealthsimple Trade Trustworthy?
Yes. Wealthsimple Trade is legit. Wealthsimple has more than 15 billion Canadian in Assets Under Management (AUM). These folks have been operating for more than 7 years and right now employs roughly 600 people. The majority owner is the large publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the very first no-fee digital discount brokerage operating in Canada.
How Do I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it quite straight forward to fund your account. Just connect to a chequing or savings account to your Trade account, then add money to your account in only a few clicks. Deposits from financial institutions to Wealthsimple usually take just a few days. Funds can also be withdrawn your chequing or savings accounts by using the exact same method.
What Additional Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – An alternative to e-Transfers that allows one to quickly and easily transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you need to get ready for tax year and file your taxes online for free. It’s described to be simple, accurate and always free income tax filing.
Wealthsimple Spend – A combination pre paid visa and savings product which allows one to earn 1% cashback on your everyday spending, and also get a competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance platform that offers a variety of different courses on saving, investments, crypto, home buying and much more.
All of the above products, along with Wealthsimple Trade can be accessed inside the mobile app or on their website with your Wealthsimple login.
How Should I Start Using Wealthsimple Trade?
Click here to signup for a new Wealthsimple Trade account. As a special registration bonus to our audience you’ll get the cash value of a random Canadian stock worth $25 up to $4,500 Canadian when you make an initial deposit to your account.
But What if I Still Have Additional Questions Related to Koho Vs Wealthsimple?
If this review hasn’t answered each of your questions, and you’re still searching for further info relating to Koho Vs Wealthsimple, visit the Wealthsimple website to get answers to every one of your questions.