What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian online Financial, stocks and crypto trading app that sets itself apart from similar apps by charging no fees.
A online financial services company launched in Autumn 2014 originally as a robo advisor automated trading platform called Wealthsimple Invest, it has grown considerably over the past eight years to also feature Wealthsimple Trade, a no fees discount brokerage platform.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade allows investors trade both stand alone stocks and ETFs without needing to pay commissions. The exception to this is when trading stocks which are denominated in USD currency. In which case, they charge a nominal currency conversion fee when buying and selling. But, gone are the times of paying more than $7 per each trade with online discount brokerages as was the norm just a few years ago.
Exactly How Much Cash do I Need to Start Investing on Wealthsimple Trade?
Wealthsimple is unique in that they allow Canadian investors to make a minimum deposit of only $1. Many traditional banks and brokerages have large min deposit amounts of 1K-$5000. This makes it tough for the common investor to start investing. With Wealthsimple Trade, you don’t have to already be wealthy to get started with trading stocks and ETFs.
But Does Wealthsimple Trade Have RRSP Accounts?
Of course. Wealthsimple Trade offers registered and non-CRA-registered accounts. You can select both RRSP and TFSA accounts during the setup process.
But Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade offers a modern mobile app offered to download on Apple and Google Play. The mobile app makes the registration steps and trading of stocks and ETFs super painless.
So Is Wealthsimple Trade Legit?
For sure. Wealthsimple Trade is secure. Wealthsimple reports more than 15 billion CAD of Assets Under Management . This company has been operating for more than 7 years and at this time employs roughly 600 Canadians. The primary owner is the large publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade is the very first no-fee digital brokerage to operate in Canada.
But How Do I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it so simple to add funds to an account. Simply connect the app to a chequing or savings account to your Trade account, and add funds to your account in only a few clicks. Deposits from financial institutions to Wealthsimple usually take a couple of days. Funds can the same way can be withdrawn a chequing or savings account by the exact same steps.
What Additional Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is equivalent to Interac e-Transfers that allows one to quickly and easily send cash to friends and family in Canada.
Wealthsimple Tax – Everything you require to prepare for this tax season and file your taxes online for free. It’s pitched as easy, accurate and always totally free tax return filing.
Wealthsimple Spend – A hybrid prepaid debit card and savings account that allows you to get 1% cashback on all your spending, and also get a very competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform that includes a bunch of courses on different topics such as saving, investing, crypto, real estate and more.
Every one of the listed features, including Wealthsimple Trade may be found in the app and on their website with one login.
So How Can I Begin With Wealthsimple Trade?
Click here to create a new Wealthsimple Trade account. As an exclusive signup bonus offer for our audience you’ll get the cash value of a share valued at $25 up to $4,500 CAD when you fund your account.
So What if I Still Have Questions Related to Wealthsimple Revenue?
If this article still hasn’t given you the answers to each of your questions, and you’re still browsing for further information relating to Wealthsimple Revenue, go to the Wealthsimple site for answers to each your questions.