What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian web based Financial, securities plus crypto trading platform that sets itself apart from similar apps by charging no fees.
A online financial services business founded in the Autumn of twenty fourteen originally as a robo advisor algorithmic automated trading platform named Wealthsimple Invest, it has changed significantly over the last eight years to also include Wealthsimple Trade, a zero fees discount brokerage service.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade lets consumers trade individual stocks and ETFs without needing to pay fees. The exception is when you’re trading stocks which are displayed in US Dollars. In this case, they will charge a currency conversion fee when buying and selling. However, past us are the days of paying $7-12 per each trade with discount brokerages as was the norm a few years past.
How Much Money do I Need to Start Investing With Wealthsimple Trade?
Wealthsimple is unique in that they will allow Canadians to make a minimum deposit of just $1. Most traditional banks and discount brokerages have sizeable minimum deposit amounts of $1000-$5000. This makes it tough for the everyday new investor to start. With Wealthsimple Trade, one doesn’t have to already be wealthy to start trading stocks and ETFs.
But Does Wealthsimple Trade Offer RRSP Accounts?
It does. Wealthsimple Trade has available CRA registered and non-registered accounts. One are able to select between both RRSP and TFSA account types in the setup process.
So Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade offers a modern mobile app available on both iOS and also Google Play. The app makes the enrollment process and trading of stocks and ETFs very painless.
So Is Wealthsimple Trade Legit?
Most definitely. Wealthsimple Trade is safe. Wealthsimple reports over 15 billion CAD of Assets Under Management . This company has been operating for more than 7 years and also at this time employs roughly 600 people. The main shareholder is the respected public Canadian entity Power Corp of Canada. Weapthsimple Trade was the first no-fees digital discount brokerage to operate in Canada.
How Does One Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it simple to add funds to a new account. Simply connect to a chequing or savings account to your Trade account, and add money to your account in simply a couple of steps. Deposits from financial institutions to Wealthsimple normally take a couple of days. Funds can the same way can be moved to your chequing or savings accounts by the same method.
Which Other Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An equivalent to e-transfers that allows anyone to quickly and efficiently send cash to friends and family in Canada.
Wealthsimple Tax – Everything you need to get ready for this tax year and file your tax return online free. It’s advertised as simple, accurate and always free tax return filing.
Wealthsimple Spend – A hybrid pre paid debit card and savings account which lets you to recieve 1% cashback on all your everyday purchases, and also earn a very competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform that includes a variety of different online courses on topics like saving, investments, crypto, home buying and more.
Each of the above products, along with Wealthsimple Trade may be found within the app and from their site with your Wealthsimple login.
But How Can I Get Started With Wealthsimple Trade?
Click here to create a new Wealthsimple Trade account. For a special signup bonus for our audience you’ll get the equivalent cash value of a stock worth up to $4,500 CAD once you add funds to your account.
But What if I Still Have Questions About Wealthsimple Trade App?
If this blog post hasn’t given you the answers to each of your questions, and you’re still looking for additional information about Wealthsimple Trade App, visit the Wealthsimple website for answers to every one of your questions.