What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian web based investing, securities plus crypto trading platform that sets itself apart from the competition by charging no fees.
A online financial services company launched in the Autumn of 2014 exclusively as a robo advisor algorithmic automated trading app named Wealthsimple Invest, it has evolved considerably over the previous eight years to also feature Wealthsimple Trade, a no fees discount brokerage service.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade lets investors to trade individual stocks and also ETFs without paying any commissions. The exception is when trading stocks and ETFs that are denominated in USD. In which case, they will charge a small currency conversion fee when buying and selling. But, behind us are the days of paying more than $7 per trade with digital discount brokerages as was the norm just a few years ago.
Exactly How Much in Funds Will I Need to Have in Order to Get Started on Wealthsimple Trade?
Wealthsimple is awesome such that they allow Canadians to make a minimum deposit of only $1. Most alternative banks and discount brokerages have large minimum deposit amounts of 1K-5K. This makes it difficult for the normal investor to start. With Wealthsimple Trade, you don’t need to be wealthy to get started with trading stocks and ETFs.
But Does Wealthsimple Trade Have RRSP Accounts?
It does. Wealthsimple Trade offers both registered and non-registered accounts. One may select both RRSP and TFSA account types in the setup process.
So Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade offers a modern mobile app that is available to download on both Apple and also Google Play. The mobile app makes the registration steps and trading of stocks and ETFs very easy.
So Is Wealthsimple Trade Trustworthy?
. Wealthsimple Trade is trustworthy. Wealthsimple boasts in excess of 15 billion CAD of Assets Under Management . These folks have been in business for more than 7 years and at this time employs more than 600 Canadians. The primary shareholder is the publicly traded Canadian entity Power Corp of Canada. Weapthsimple Trade was the very first no-fees online brokerage to operate in Canada.
So How Does One Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it easy to add funds to your account. Simply connect a chequing or savings account with your Trade account, and fund your account in only a few clicks. Deposits from financial institutions to Wealthsimple normally take a few days. Funds can also be moved back to your chequing or savings account with the exact same process.
Which Additional Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is alternative to E-Transfers which allow you to quickly and simply send cash to friends and family in Canada.
Wealthsimple Tax – Everything you need to get ready for this tax year and file your tax return online for free. It’s pitched as easy, accurate and always free tax return filing.
Wealthsimple Spend – A combination pre paid debit card and savings product which allows you to get 1% cashback on all your spending, as well as get a competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform that offers a ton of courses on topics like saving, investing, crypto, mortgages and more.
Each of the mentioned features, including Wealthsimple Trade can be accessed within the app and from the site with your Wealthsimple login.
So How Can I Get Started Using Wealthsimple Trade?
Click here to setup a Wealthsimple Trade account. For an exclusive registration bonus offer to our audience you’ll get the equivalent cash value of a share worth up to $4,500 CAD once you make an initial deposit to your account.
What if I Still Have Additional Questions About Koinly Wealthsimple?
If this blog post hasn’t answered all of your questions, and you’re searching for additional information about Koinly Wealthsimple, go to the Wealthsimple website to find answers to all your questions.