What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian web based investing, stocks plus crypto trading app that differentiates itself from similar apps by charging absolutely no fees.
A online financial services company founded in the Autumn twenty fourteen originally as a robo advisor trading app named Wealthsimple Invest, it has changed significantly over the past eight years to feature Wealthsimple Trade, a zero fees discount brokerage platform.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade allows Canadian investors to trade stand alone stocks and also ETFs without needing to pay any fees. The exception is when you’re trading securities that are listed in US Dollars. In this case, they do charge a currency conversion fee when buying and selling. But, past us are the times of having to pay Upwards of $7 per trade with digital discount brokerages as was normal only a few years ago.
Exactly How Much Money do I Need to Begin Investing on Wealthsimple Trade?
Wealthsimple is special such that they will allow investors to make a minimum deposit of just $1. The majority of alternative banks and brokerages have large min deposit amounts of 1k-$5000. This makes it tough for the typical investor to start investing. With Wealthsimple Trade, you don’t have to already be wealthy to get started with trading stocks and ETFs.
Does Wealthsimple Trade Offer TFSA Accounts?
They do. Wealthsimple Trade has both CRA registered and non-registered accounts. You are able to select between both RRSP and TFSA account types in the setup phase.
But Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade has a well designed mobile app that is offered to download on iOS and Android. The smartphone app makes the registration phase and also trading of stocks and ETFs very easy.
But Is Wealthsimple Trade Legit?
For sure. Wealthsimple Trade is safe. Wealthsimple boasts more than 15 billion CAD of Assets Under Management . they’ve been doing business for more than 7 years and also right now employs roughly 600 folks. The primary shareholder is the admired publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the first no-fee digital brokerage to operate in Canada.
But How Does One Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it so straight forward to add money to a new account. Just connect the app to a chequing or savings account to your Trade account, and fund your account in only a couple of steps. Deposits from financial institutions to Wealthsimple typically take only a couple of days. Funds can the same way can be withdrawn your chequing or savings accounts by using the exact same process.
Which Other Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is equivalent to Interac e-Transfers that allow one to quickly and easily send money to friends and family in Canada.
Wealthsimple Tax – Everything you need to get ready for this tax year and submit your tax return online free. It’s described to be easy, accurate and always totally free tax filing.
Wealthsimple Spend – A combination pre paid visa and savings product that allows one to get 1% cashback on your everyday spending, and also get a very competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform which offers a bunch of different online courses on topics like saving, investments, crypto, home buying and more.
All of the listed products, along with Wealthsimple Trade can be found inside the app or from the site with your Wealthsimple login.
So How Can I Begin With Wealthsimple Trade?
Click here to signup for your Wealthsimple Trade account. For an exclusive signup bonus offer for our audience you will get the cash value of a random Canadian stock worth $25 up to $4,500 CAD as soon as you make an initial deposit to your account.
What if I Still Have Additional Questions Related to Wealthsimple Robo Advisor?
If this blog post didn’t given you the answers to each of your questions, and you’re browsing for more specific information about Wealthsimple Robo Advisor, check out the Wealthsimple website to get answers to each your questions.