What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian web based Financial, securities plus crypto trading web app that distinguishes itself from its competitors by charging absolutely no fees.
A leading Canadian online financial services company founded in Fall of 2014 exclusively as a robo advisor automated trading platform called Wealthsimple Invest, it has evolved considerably over the previous eight years to also include Wealthsimple Trade, a no fees discount brokerage platform.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade lets consumers trade both single stocks and also ETFs without needing to pay any commissions. The exception is when you’re trading securities that are listed in USD. In that case, they do charge a nominal currency conversion fee when buying and selling. However, gone are the times of having to pay Upwards of $7 per trade with digital discount brokerages as was the case only a couple years ago.
Exactly How Much in Funds do I Need in Order to Get Started on Wealthsimple Trade?
Wealthsimple is cool such that they allow investors to make a minimum deposit of just $1. Many alternative banks and discount brokerages have quite large initial deposit amounts of $1,000-5K. This makes it impossible for the typical investor to start. With Wealthsimple Trade, you won’t have to already be wealthy to begin trading stocks and ETFs.
So Does Wealthsimple Trade Offer RRSP Accounts?
Of course. Wealthsimple Trade has available both registered and non-registered account types. You are able to choose between both RRSP and TFSA account types in the setup phase.
So Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade offers a easy to use mobile app offered to download on both iOS and Android. The mobile app makes the registration process and also the trading of stocks and ETFs simple.
But Is Wealthsimple Trade Safe?
For sure. Wealthsimple Trade is legit. Wealthsimple has in excess of 15 billion CAD in Assets Under Management . they’ve been in business for more than 7 years and employs roughly 600 folks. The main shareholder is the large public Canadian corporation Power Corp of Canada. Weapthsimple Trade was the first no-fees digital brokerage to operate in Canada.
How Does One Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it so straight forward to add money to an account. Simply connect the app to a chequing or savings account to your Trade account, and then add funds to your account in only a couple of steps. Deposits from financial institutions to Wealthsimple normally take just a few days. Funds can just as easily be moved to a chequing or savings account using the same method.
What Other Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An equivalent to Interac E-transfers that allows anyone to quickly and simply send money 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 described to be easy, accurate and always free tax return filing.
Wealthsimple Spend – A hybrid prepaid visa and savings account which lets you to earn 1% cashback on all your purchases, as well as get a very competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance platform which offers a bunch of courses on topics like saving, investments, crypto, real estate and more.
Each of the listed products, including Wealthsimple Trade may be found within the app or from the website with your Wealthsimple login.
So How Can I Get Started With Wealthsimple Trade?
Click here to signup for a Wealthsimple Trade account. For an exclusive registration bonus to our audience you’ll receive the cash value of a random share worth $25 up to $4,500 Canadian once you fund your account.
So What if I Still Have Questions About Stocks To Buy On Wealthsimple?
If this review hasn’t answered each of your questions, and you’re looking for additional specific answers about Stocks To Buy On Wealthsimple, go to the Wealthsimple website to find answers to each your questions.