What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian web based investing, securities plus crypto trading web app that sets itself apart from the competition by charging absolutely no fees.
A leading Canadian online financial services business founded in Autumn of 2014 originally as a robo-advisor algorithmic automated trading app named Wealthsimple Invest, it has changed substantially over the past eight years to also include Wealthsimple Trade, a zero fee discount brokerage app.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade lets Canadian investors trade both individual stocks and ETFs without having to pay fees. The exception is when trading stocks that are listed in USD. In this case, they charge a small currency conversion fee both when buying and selling. However, past us are the times of having to pay Upwards of $7 per trade with online discount brokerages as was common just a couple years ago.
Exactly How Much Cash Will I Need to Have to Start Investing With Wealthsimple Trade?
Wealthsimple is special such that they will allow investors to make a minimum deposit of only $1. Most alternative banks and discount brokerages have large initial deposit amounts of $1000-5k. This makes it hard for the everyday investor to get started. With Wealthsimple Trade, you won’t need to already be wealthy to get started with trading stocks and ETFs.
But Does Wealthsimple Trade Offer RRSP Accounts?
They do. Wealthsimple Trade offers both registered and non-CRA-registered account types. One can select between both RRSP and TFSA account types during the setup wizard.
Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade offers a modern mobile app offered on iOS and also Google Play. The smartphone app makes the enrollment steps and also trading of stocks and ETFs very painless.
So Is Wealthsimple Trade Safe?
Most definitely. Wealthsimple Trade is secure. Wealthsimple reports over 15 billion CAD of Assets Under Management . they’ve been doing business for more than 7 years and also employs over 600 Canadians. The primary shareholder is the large public Canadian company Power Corp of Canada. Weapthsimple Trade is the first no-fee digital discount brokerage to operate in Canada.
How Do I Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it so easy to deposit to an account. Just connect to a chequing or savings account with your Trade account, then fund your account in just a couple of steps. Deposits from financial institutions to Wealthsimple typically take just a few days. Funds can the same way can be moved to your chequing or savings accounts through the exact same steps.
What Additional Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is equivalent to Interac E-Transfers which allow you to quickly and efficiently send cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for this tax season and submit your taxes online free. It’s advertised to be simple, accurate and always totally free tax filing.
Wealthsimple Spend – A combination pre paid debit card and savings product which allows one to recieve 1% cashback on your purchases, and also get a competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform that includes a bunch of different courses on topics like saving, investing, crypto, real estate and more.
Each of the listed products, along with Wealthsimple Trade can be accessed in the mobile app or on their website with your Wealthsimple login.
So How do I Begin Using Wealthsimple Trade?
Click here to signup for your Wealthsimple Trade account. As a special signup bonus offer for our readers you will receive the cash value of a share valued at $25 up to $4,500 CAD once you make an initial deposit to your account.
What if I Still Have Additional Questions About Wealthsimple Technologies Inc?
If this review hasn’t given you the answers to all of your questions, and you’re looking for further specific facts relating to Wealthsimple Technologies Inc, visit the Wealthsimple site to find answers to all your questions.