What is Wealthsimple?
Wealthsimple is a simple to use Canadian digital investing, securities plus crypto trading web app that differentiates itself from similar apps by charging no fees.
A Toronto, Ontario based online financial services business founded in the Fall of 2014 exclusively as a robo-advisor automated trading app named Wealthsimple Invest, it has improved considerably over the previous eight years to include Wealthsimple Trade, a zero fees discount brokerage service.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade lets Canadian investors to trade both stand alone stocks and also ETFs without needing to pay fees. The exception to this is when you’re trading securities which are listed in USD. In this case, they do charge a currency conversion fee when buying and selling. However, behind us are the days of having to pay $7-12 per trade with online discount brokerages as was the case a couple years ago.
How Much in Funds Will I Need in Order to Start With Wealthsimple Trade?
Wealthsimple is unique in that they allow investors to make a minimum deposit of only $1. Most traditional banks and discount brokerages have large minimum deposit amounts of 1K-5k. This makes it tough for the common new investor to start. With Wealthsimple Trade, you won’t need to already be wealthy to start trading stocks and ETFs.
Does Wealthsimple Trade Have RRSP Accounts?
Of course. Wealthsimple Trade has available CRA registered and non-CRA-registered account types. One are able to select between both RRSP and TFSA account types during the setup process.
So Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade offers a convenient mobile app that is available to download on IOS and also Android. The app makes the enrollment process and also trading of stocks and ETFs super easy.
Is Wealthsimple Trade Legit?
Most definitely. Wealthsimple Trade is safe. Wealthsimple reports over 15 billion Canadian in Assets Under Management (AUM). This company has been operating for more than 7 years and right now employs more than 600 folks. The majority shareholder is the admired public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the first no-fee online brokerage operating in Canada.
How Can I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it quite easy to add funds to your new account. Simply connect the app to a chequing or savings account to your Trade account, then fund your account in just a couple of clicks. Deposits from your bank to Wealthsimple typically take a few days. Funds can the same way can be moved back to a chequing or savings account through the same process.
What Additional Features and Products Are Available?
Wealthsimple Cash – This is equivalent to E-Transfers that allows anyone to quickly and simply transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for tax year and file your tax return online free. It’s described as simple, accurate and always totally free tax filing.
Wealthsimple Spend – A hybrid pre paid visa and savings product that allows you to get 1% cashback on your everyday purchases, and also get a competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform which includes a bunch of different online courses on different topics such as saving, investing, crypto, home buying and more.
All of the listed features, including Wealthsimple Trade can be found within the app or on the site with your Wealthsimple login.
But How Should I Start Using Wealthsimple Trade?
Click here to create a Wealthsimple Trade account. For a special signup bonus offer to our readers you’ll get the equivalent cash value of a random Canadian stock worth up to $4,500 Canadian as soon as you add funds to your account.
So What if I Still Have Questions Concerning Krista Duncan Wealthsimple?
If this blog post hasn’t given you the answers to each of your questions, and you’re still browsing for additional specific information about Krista Duncan Wealthsimple, go to the Wealthsimple site to get answers to every one of your questions.