What is Wealthsimple?
Wealthsimple is a simple to use Canadian online Financial, stocks plus crypto trading platform that distinguishes itself from its competitors by charging no fees.
A leading Canadian online financial services company launched in Fall of twenty fourteen exclusively as a robo-advisor algorithmic trading app named Wealthsimple Invest, it has improved substantially over the last 8 years to also feature Wealthsimple Trade, a zero fees discount brokerage platform.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade lets Canadian investors trade both single stocks and ETFs without paying any fees. The exception is when trading stocks and ETFs which are displayed in US Dollars. In which case, they do charge a small currency conversion fee both when buying and selling. But, gone are the times of paying Upwards of $7 per each trade with discount brokerages as was the case just a couple years past.
Exactly How Much in Funds Will I Need in Order to Begin Investing With Wealthsimple Trade?
Wealthsimple is awesome such that they allow Canadians to make a minimum deposit of only $1. Most traditional banks and discount brokerages have quite large initial deposit amounts of $1,000-5k. This makes it hard for the common new investor to start. With Wealthsimple Trade, you won’t need to already be wealthy to begin trading stocks and ETFs.
But Does Wealthsimple Trade Have RRSP Accounts?
Yes. Wealthsimple Trade offers both CRA registered and non-registered accounts. You can select both RRSP and TFSA accounts during the setup process.
So Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade has a well designed mobile app that is available to download on iOS and also Google Play. The app makes the enrollment steps and trading of stocks and ETFs truly painless.
So Is Wealthsimple Trade Safe?
Yes. Wealthsimple Trade is legit. Wealthsimple reports over 15 billion CAD of Assets Under Management (AUM). These folks have been operating for more than 7 years and also at this time employs more than 600 people. The controlling owner is the respected publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade was the first no-fees online brokerage operating in Canada.
But How Do I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it very straight forward to add funds to a new account. Just connect the app to a chequing or savings account with your Trade account, and then fund your account in just a couple of steps. Deposits from banks to Wealthsimple usually take a few days. Funds can just as easily be moved back to a chequing or savings accounts by using the same method.
Which Additional Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is alternative to E-transfers which allow you to quickly and efficiently transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you require to prepare for tax season and submit your tax return online free. It’s advertised as simple, accurate and always free tax filing.
Wealthsimple Spend – A combination prepaid visa and savings account that allows one to recieve 1% cashback on all your everyday purchases, and also earn a very competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform which offers a variety of different courses on saving, investing, crypto, home buying and more.
All of the mentioned products, including Wealthsimple Trade may be accessed within the app or on the website with your Wealthsimple login.
How Can I Get Started Using Wealthsimple Trade?
Click here to setup a Wealthsimple Trade account. For an exclusive signup bonus to our audience you’ll receive the cash value of a stock worth $25 up to $4,500 CAD once you add funds to your account.
So What if I Still Have Questions Concerning Wealthsimple Save Interest Rate?
If this article didn’t answered each of your questions, and you’re browsing for further specific answers relating to Wealthsimple Save Interest Rate, visit the Wealthsimple site to find answers to every one of your questions.