What is Wealthsimple?
Wealthsimple is an easy to use Canadian web based investing, securities and crypto trading web app that sets itself apart from similar apps by charging no fees.
A Toronto, Ontario based fintech business launched in the Autumn of twenty fourteen originally as a robo-advisor automated trading platform called Wealthsimple Invest, it has evolved considerably over the past eight years to also feature Wealthsimple Trade, a zero fees discount brokerage platform.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade allows consumers trade both stand alone stocks and also ETFs without needing to pay any commissions. The exception to this is when you’re trading stocks that are displayed in USD. In which case, they will charge a currency conversion fee both when buying and selling. But, gone are the times of paying more than $7 per trade with discount brokerages as was normal a couple years ago.
Exactly How Much Money Will I Need to Get Started With Wealthsimple Trade?
Wealthsimple is awesome such that they allow new customers to make a minimum deposit of only $1. Most traditional banks and brokerages have sizeable minimum deposit amounts of $1,000-$5000. This makes it difficult for the every day new investor to get started. With Wealthsimple Trade, one doesn’t need to already be wealthy to start trading stocks and ETFs.
But Does Wealthsimple Trade Offer TFSA Accounts?
Yes. Wealthsimple Trade has both CRA registered and non-CRA-registered account types. You are free to select between both RRSP and TFSA account types during the setup wizard.
So Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade offers a modern mobile app available on IOS and also Google Play. The app makes the signup steps and also the trading of stocks and ETFs very easy.
But Is Wealthsimple Trade Secure?
. Wealthsimple Trade is legit. Wealthsimple boasts in excess of 15 billion CAD of Assets Under Management (AUM). they’ve been expanding for more than 7 years and also at this time employs more than 600 people. The primary owner is the admired publicly traded Canadian company 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 mobile app makes it incredibly easy to deposit to a new account. Just connect a chequing or savings account with your Trade account, and add funds to your account in just a few steps. Deposits from banks to Wealthsimple usually take a few days. Funds can the same way can be withdrawn your chequing or savings account through the exact same method.
Which Additional Benefits and Products Are Available?
Wealthsimple Cash – This is alternative to Interac E-Transfers that allow you to quickly and efficiently transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you require to get ready for tax year and file your tax return online for free. It’s advertised as simple, accurate and always totally free income tax filing.
Wealthsimple Spend – A hybrid prepaid debit card and savings account that allows one to earn 1% cashback on your everyday spending, 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 bunch of online courses on different topics such as saving, investing, crypto, mortgages and much more.
Every one of the above features, including Wealthsimple Trade may be found in the app or on their website with your Wealthsimple login.
How do I Get Started Using Wealthsimple Trade?
Click here to signup for a Wealthsimple Trade account. As a special registration bonus for our audience you will get the cash value of a random stock valued at $25 up to $4,500 CAD when you deposit to your account.
So What if I Still Have Questions About Rrsp Wealthsimple?
If this article hasn’t given you the answers to each of your questions, and you’re looking for further specific facts about Rrsp Wealthsimple, visit the Wealthsimple site to get answers to all your questions.