What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian online Financial, stocks plus crypto trading platform that differentiates itself from other apps by charging absolutely no fees.
A Toronto, Ontario based fintech company founded in Autumn of twenty fourteen originally as a robo advisor automated trading app called Wealthsimple Invest, it has evolved considerably over the last eight years to include Wealthsimple Trade, a zero fee discount brokerage service.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade lets consumers to trade single stocks and ETFs without having to pay any fees. The exception to this is when trading ETFs and stocks which are denominated in USD. In this case, they will charge a currency conversion fee when buying and selling. However, past us are the days of having to pay more than $7 per trade with digital discount brokerages as was the case only a few years ago.
How Much in Funds do I Need in Order to Begin Investing With Wealthsimple Trade?
Wealthsimple is special in that they will allow new customers to make a minimum deposit of only $1. Many alternative banks and brokerages have large min deposit amounts of 1K-$5,000. This makes it tough for the everyday investor to get started. With Wealthsimple Trade, you don’t need to already be wealthy to start trading stocks and ETFs.
But Does Wealthsimple Trade Offer RRSP Accounts?
Yes. Wealthsimple Trade has registered and non-CRA-registered account types. One are free to select between both RRSP and TFSA account types in the setup process.
Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade has a modern mobile app offered to download on iOS and also Android. The smartphone app makes the registration steps and the trading of stocks and ETFs super painless.
So Is Wealthsimple Trade Trustworthy?
Yes. Wealthsimple Trade is secure. Wealthsimple boasts more than 15 billion CAD in Assets Under Management . they’ve been doing business for more than 7 years and now employs about 600 Canadians. The primary shareholder is the large public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the very first no-fee online discount brokerage operating in Canada.
How Do I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it quite straight forward to add money to your account. Just connect a chequing or savings account with your Trade account, then fund your account in only a couple of steps. Deposits from your bank to Wealthsimple normally take a few days. Funds can just as easily be withdrawn your chequing or savings accounts with the same method.
Which Additional Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is equivalent to E-transfers that allow you to quickly and easily send cash to friends and family in Canada.
Wealthsimple Tax – Everything you need to prepare for tax season and file your taxes online for free. It’s pitched as easy, accurate and always totally free tax filing.
Wealthsimple Spend – A combination pre paid debit card and savings account which allows one to recieve 1% cashback on all your purchases, and also earn a very competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform which offers a ton of different courses on saving, investing, crypto, mortgages and more.
All of the mentioned products, including Wealthsimple Trade may be accessed in the mobile app and on their website with a single login.
So How Can I Start Using Wealthsimple Trade?
Click here to create your Wealthsimple Trade account. For an exclusive signup bonus offer to our audience you’ll receive the equivalent cash value of a random share worth up to $4,500 Canadian once you add funds to your account.
So What if I Still Have Additional Questions Related to Wealthsimple Questrade?
If this blog post didn’t answered all of your questions, and you’re still looking for more specific info about Wealthsimple Questrade, check out the Wealthsimple site to find answers to all your questions.