What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian web based investing, stock and crypto trading app that distinguishes itself from the competition by charging absolutely no fees.
A leading Canadian online financial services company founded in Fall of twenty fourteen exclusively as a robo-advisor algorithmic trading platform named Wealthsimple Invest, it has evolved significantly over the last eight years to also feature Wealthsimple Trade, a no fees discount brokerage service.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade lets consumers to trade individual stocks and ETFs without having to pay commissions. The exception is when trading ETFs and stocks that are listed in USD. In this case, they charge a currency conversion fee when buying and selling. However, gone are the days of paying Upwards of $7 per trade with digital discount brokerages as was expected just a few years past.
How Much Money do I Need to Have in Order to Get Started With Wealthsimple Trade?
Wealthsimple is unique in that they will allow new customers to make a minimum deposit of only $1. Most alternative banks and discount brokerages have sizeable minimum deposit amounts of $1000-$5000. This makes it impossible for the every day investor to start. With Wealthsimple Trade, you won’t need to be wealthy to begin trading stocks and ETFs.
So Does Wealthsimple Trade Offer RRSP Accounts?
Of course. Wealthsimple Trade offers both registered and non-CRA-registered account types. One can select both RRSP and TFSA account types during the setup process.
Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade offers a modern mobile app offered to download on both Apple and Google Play. The app makes the enrollment process and trading of stocks and ETFs very a breeze.
Is Wealthsimple Trade Secure?
Definitely. Wealthsimple Trade is legit. Wealthsimple boasts more than 15 billion Canadian of Assets Under Management (AUM). They have been doing business for more than 7 years and also at this time employs about 600 folks. The majority owner is the public Canadian corporation Power Corp of Canada. Weapthsimple Trade is the first no-fees digital brokerage to operate in Canada.
But How Do I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it very straight forward to add funds to an account. Just connect the app to a chequing or savings account with your Trade account, and add funds to your account in simply a few clicks. Deposits from banks to Wealthsimple typically take a few days. Funds can also be withdrawn a chequing or savings account by using the exact same steps.
What Additional Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An alternative to E-Transfers that allow you to quickly and efficiently send money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for tax year and file your tax return online for free. It’s described to be simple, accurate and always totally free income tax filing.
Wealthsimple Spend – A combination pre paid debit card and savings product that lets you to get 1% cashback on all your everyday purchases, as well as earn a very competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform which includes a ton of different courses on topics like saving, investments, crypto, real estate and much more.
Each of the above products, along with Wealthsimple Trade may be accessed in the app or on the site with your Wealthsimple login.
How Can I Get Started With Wealthsimple Trade?
Click here to create a Wealthsimple Trade account. As an exclusive registration bonus offer to our audience you will get the cash value of a share valued at $25 up to $4,500 CAD as soon as you add funds to your account.
So What if I Still Have Additional Questions Related to Loopring Wealthsimple?
If this blog post still hasn’t answered each of your questions, and you’re still looking for additional info relating to Loopring Wealthsimple, visit the Wealthsimple website for answers to each your questions.