What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian web based investing, stock plus crypto trading web app that differentiates itself from the competition by charging no fees.
A Toronto, Ontario based fintech business launched in the Fall of twenty fourteen exclusively as a robo-advisor algorithmic automated trading app named Wealthsimple Invest, it has evolved significantly over the last eight years to also include Wealthsimple Trade, a zero fee discount brokerage platform.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade lets Canadian investors to trade individual stocks and ETFs without having to pay any fees. The exception to this is when you’re trading ETFs and stocks that are listed in USD currency. In which case, they do charge a nominal currency conversion fee both when buying and selling. But, gone are the times of having to pay more than $7 for each trade with discount brokerages as was the case only a couple years ago.
How Much Cash Will I Need to Have in Order to Start on Wealthsimple Trade?
Wealthsimple is unique such that they will allow investors to make a minimum deposit of only $1. Most alternative banks and discount brokerages have quite large initial deposit amounts of $1000-$5,000. This makes it tough for the every day new investor to start. With Wealthsimple Trade, one doesn’t need to already be wealthy to get started with trading stocks and ETFs.
So Does Wealthsimple Trade Have RRSP Accounts?
It does. Wealthsimple Trade has both registered and non-registered account types. You are able to select between both RRSP and TFSA account types in the setup process.
Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade offers a easy to use mobile app that is available to download on both IOS and also Google Play. The app makes the enrollment phase and trading of stocks and ETFs easy.
Is Wealthsimple Trade Secure?
Definitely. Wealthsimple Trade is trustworthy. Wealthsimple has more than 15 billion Canadian of Assets Under Management (AUM). This company has been doing business for more than 7 years and also employs over 600 people. The primary owner is the public Canadian company Power Corp of Canada. Weapthsimple Trade is the very first no-fee digital brokerage to operate in Canada.
But How Can I Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it so simple to deposit to an account. Simply connect to a chequing or savings account with your Trade account, then fund your account in simply a couple of steps. Deposits from financial institutions to Wealthsimple normally take just a few days. Funds can just as easily be withdrawn your chequing or savings accounts by the exact same steps.
What Additional Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An alternative to Interac e-transfers which allow one to quickly and simply send cash to friends and family in Canada.
Wealthsimple Tax – Everything you need to get ready for tax year and file your tax return online for free. It’s pitched to be simple, accurate and always totally free income tax filing.
Wealthsimple Spend – A combination prepaid visa and savings account that allows you to earn 1% cashback on your purchases, and also get a very competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform that offers a ton of online courses on different topics such as saving, investments, crypto, home buying and more.
Each of the above features, along with Wealthsimple Trade can be accessed in the mobile app or from their site with a single login.
But How Should I Begin With Wealthsimple Trade?
Click here to signup for your Wealthsimple Trade account. As a special registration bonus offer for our audience you will receive the cash value of a random stock valued at $25 up to $4,500 CAD as soon as you add funds to your account.
So What if I Still Have Questions Related to Kw X Wealthsimple?
If this blog post hasn’t answered all of your questions, and you’re searching for further specific information relating to Kw X Wealthsimple, go to the Wealthsimple site to find answers to each your questions.