What is Wealthsimple?
Wealthsimple is a simple to use Canadian web based Financial, securities and crypto trading platform that sets itself apart from similar apps by charging absolutely no fees.
A leading Canadian fintech business launched in the Autumn of twenty fourteen originally as a robo advisor algorithmic automated trading platform called Wealthsimple Invest, it has evolved substantially over the last eight years to also include Wealthsimple Trade, a no fee discount brokerage service.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade allows Canadian investors to trade both stand alone stocks and also ETFs without paying fees. The exception is when trading stocks and ETFs that are denominated in USD. In which case, they do charge a nominal currency conversion fee when buying and selling. But, gone are the times of having to pay more than $7 per trade with online discount brokerages as was expected just a few years ago.
Exactly How Much in Funds do I Need to Have to Begin Investing With Wealthsimple Trade?
Wealthsimple is awesome such that they will allow new customers to make a minimum deposit of just $1. Many traditional banks and discount brokerages have quite large minimum deposit amounts of 1K-5K. This makes it tough for the normal new investor to get started. With Wealthsimple Trade, you won’t need to be wealthy to start trading stocks and ETFs.
Does Wealthsimple Trade Offer RRSP Accounts?
They do. Wealthsimple Trade has available CRA registered and non-CRA-registered accounts. You may choose both RRSP and TFSA accounts in the setup wizard.
So Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade has a easy to use mobile app that is offered on both IOS and also Google Play. The smartphone app makes the signup steps and trading of stocks and ETFs truly a breeze.
But Is Wealthsimple Trade Safe?
Definitely. Wealthsimple Trade is trustworthy. Wealthsimple boasts in excess of 15 billion Canadian in Assets Under Management . They have been doing business for more than 7 years and also now employs roughly 600 folks. The main shareholder is the publicly traded Canadian entity Power Corp of Canada. Weapthsimple Trade is the very first no-fee online discount brokerage operating in Canada.
How Does One Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it incredibly simple to add funds to your account. Just connect to a chequing or savings account with your Trade account, and add funds to your account in just a couple of steps. Deposits from banks to Wealthsimple typically take just a couple of days. Funds can the same way can be moved to a chequing or savings account by the same method.
What Other Benefits and Products Are Available?
Wealthsimple Cash – This is alternative to Interac e-transfers which allows you to quickly and efficiently send money to friends and family in Canada.
Wealthsimple Tax – Everything you require to prepare for this tax year and file your tax return online for free. It’s advertised as easy, accurate and always totally free tax return filing.
Wealthsimple Spend – A hybrid pre paid visa and savings account which allows you to recieve 1% cashback on all your purchases, as well as get a competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform that offers a variety of different online courses on topics like saving, investments, crypto, home buying and more.
Each of the listed products, including Wealthsimple Trade may be accessed on the mobile app and from the site with a single login.
How Should I Start With Wealthsimple Trade?
Click here to setup a new Wealthsimple Trade account. As an exclusive signup bonus offer for our audience you will receive the cash value of a random stock worth $25 up to $4,500 CAD as soon as you add funds to your account.
What if I Still Have Additional Questions Concerning Wealthsimple Keeps Crashing?
If this article still hasn’t answered all of your questions, and you’re looking for further facts relating to Wealthsimple Keeps Crashing, go to the Wealthsimple website to find answers to every one of your questions.