What is Wealthsimple?
Wealthsimple is an easy to use Canadian online Financial, stocks and crypto trading web app that distinguishes itself from similar apps by charging absolutely no fees.
A leading Canadian fintech company launched in the Fall 2014 originally as a robo advisor algorithmic trading platform called Wealthsimple Invest, it has changed significantly over the past 8 years to also include Wealthsimple Trade, a no fees discount brokerage platform.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade lets Canadian investors to trade individual stocks and ETFs without needing to pay commissions. The exception is when trading securities that are listed in USD. In that case, they charge a currency conversion fee when buying and selling. However, behind us are the days of having to pay $7-12 for each trade with discount brokerages as was the case only a few years ago.
Exactly How Much in Funds Will I Need in Order to Get Started on Wealthsimple Trade?
Wealthsimple is special in that they will allow investors to make a minimum deposit of just $1. The majority of alternative banks and discount brokerages have quite large initial deposit amounts of 1K-5K. This makes it difficult for the every day new investor to start investing. With Wealthsimple Trade, you won’t need to be wealthy to begin trading stocks and ETFs.
Does Wealthsimple Trade Have RRSP Accounts?
They do. Wealthsimple Trade has CRA registered and non-registered account types. One may select between both RRSP and TFSA accounts during the setup process.
Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade offers a easy to use mobile app available on both iOS and Google Play. The app makes the enrollment process and the trading of stocks and ETFs super a breeze.
So Is Wealthsimple Trade Safe?
For sure. Wealthsimple Trade is secure. Wealthsimple has more than 15 billion CAD in Assets Under Management . These folks have been doing business for more than 7 years and at this time employs more than 600 people. The majority shareholder is the large public Canadian corporation Power Corp of Canada. Weapthsimple Trade is the very first no-fee online discount brokerage operating in Canada.
So How Do I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it so simple to add funds to a new account. Simply connect the app to a chequing or savings account to your Trade account, then fund your account in only a couple of steps. Deposits from banks to Wealthsimple normally take only a couple of days. Funds can just as easily be moved back to a chequing or savings account by using the exact same process.
What Other Benefits and Products Are Available?
Wealthsimple Cash – An equivalent to Interac e-transfers which allow anyone to quickly and easily transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for tax year and submit your tax return online free. It’s pitched as simple, accurate and always free tax return filing.
Wealthsimple Spend – A hybrid pre paid visa and savings account which allows one to recieve 1% cashback on your spending, as well as get a competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform that includes a bunch of courses on saving, investments, crypto, home buying and more.
All of the listed features, along with Wealthsimple Trade can be found inside the mobile app or on their website with a single login.
How Should I Begin With Wealthsimple Trade?
Click here to register for your Wealthsimple Trade account. For a special signup bonus offer to our audience you’ll get the cash value of a stock worth $25 up to $4,500 CAD as soon as you deposit to your account.
What if I Still Have Additional Questions About Uwmc Wealthsimple?
If this blog post hasn’t given you the answers to all of your questions, and you’re still looking for additional specific information relating to Uwmc Wealthsimple, check out the Wealthsimple website to find answers to every one of your questions.