What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian online Financial, stock plus crypto trading app that differentiates itself from the competition by charging no fees.
A Toronto, Ontario based online financial services business launched in the Autumn 2014 originally as a robo-advisor algorithmic automated trading platform named Wealthsimple Invest, it has improved significantly over the past eight years to also feature Wealthsimple Trade, a zero fee discount brokerage service.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade lets consumers trade both single stocks and also ETFs without paying commissions. The exception to this is when you’re trading ETFs and stocks that are displayed in USD. In which case, they will charge a nominal currency conversion fee both when buying and selling. But, behind us are the times of having to pay more than $7 for each trade with digital discount brokerages as was normal only a few years ago.
How Much in Funds do I Need to Have in Order to Start on Wealthsimple Trade?
Wealthsimple is awesome in that they allow investors to make a minimum deposit of just $1. Many traditional banks and discount brokerages have quite large minimum deposit amounts of 1K-$5,000. This makes it impossible for the typical new investor to start investing. With Wealthsimple Trade, you won’t have to be wealthy to get started with trading stocks and ETFs.
So Does Wealthsimple Trade Have RRSP Accounts?
Of course. Wealthsimple Trade has registered and non-CRA-registered account types. You are able to select between both RRSP and TFSA accounts during the setup phase.
Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade offers a well designed mobile app available to download on Apple and also Android. The mobile app makes the signup phase and the trading of stocks and ETFs very a breeze.
Is Wealthsimple Trade Trustworthy?
Of course. Wealthsimple Trade is legit. Wealthsimple boasts over 15 billion Canadian of Assets Under Management (AUM). They have been operating for more than 7 years and also now employs about 600 folks. The majority owner is the large public Canadian entity Power Corp of Canada. Weapthsimple Trade was the first no-fees online brokerage operating in Canada.
How Do I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it so easy to deposit to an account. Just connect to a chequing or savings account with your Trade account, and then fund your account in only a few clicks. Deposits from banks to Wealthsimple normally take only a few days. Funds can just as easily be withdrawn a chequing or savings account by the same steps.
Which Additional Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is alternative to Interac E-transfers which allow one to quickly and easily send cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to get ready for this tax season and file your tax return online free. It’s pitched as easy, accurate and always totally free income tax filing.
Wealthsimple Spend – A combination pre paid visa and savings product which allows one to get 1% cashback on all your everyday spending, and also earn a very competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform that includes a bunch of courses on topics like saving, investments, crypto, real estate and much more.
Every one of the mentioned features, along with Wealthsimple Trade may be accessed in the app and at their website with a single login.
How do I Get Started With Wealthsimple Trade?
Click here to create a new Wealthsimple Trade account. As a special signup bonus offer for our readers you’ll receive the cash value of a random stock valued at up to $4,500 Canadian when you deposit to your account.
So What if I Still Have Questions Concerning Lira Wealthsimple?
If this review didn’t answered all of your questions, and you’re still looking for further specific information about Lira Wealthsimple, go to the Wealthsimple website to find answers to all your questions.