What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian web based Financial, stocks plus crypto trading web app that differentiates itself from similar apps by charging no fees.
A online financial services business founded in the Fall of 2014 exclusively as a robo-advisor algorithmic trading app named Wealthsimple Invest, it has changed significantly over the past 8 years to include Wealthsimple Trade, a zero fee discount brokerage app.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade lets investors trade stand alone stocks and ETFs without needing to pay any fees. The exception is when trading securities which are displayed in US Dollars. In which case, they will charge a currency conversion fee both when buying and selling. However, past us are the times of having to pay Upwards of $7 per trade with discount brokerages as was common a couple years ago.
How Much Cash do I Need to Have in Order to Start Investing on Wealthsimple Trade?
Wealthsimple is special in that they allow Canadian investors to make a minimum deposit of only $1. The majority of alternative banks and discount brokerages have quite large min deposit amounts of 1K-5k. This makes it tough for the common new investor to get started. With Wealthsimple Trade, you don’t need to already be wealthy to begin trading stocks and ETFs.
Does Wealthsimple Trade Have RRSP Accounts?
It does. Wealthsimple Trade has both registered and non-registered accounts. One may choose both RRSP and TFSA account types in the setup wizard.
But Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade has a modern mobile app that is available to download on both Apple and also Android. The mobile app makes the registration phase and also the trading of stocks and ETFs super a breeze.
Is Wealthsimple Trade Secure?
For sure. Wealthsimple Trade is trustworthy. Wealthsimple has more than 15 billion Canadian of Assets Under Management . they’ve been operating for more than 7 years and also at this time employs more than 600 Canadians. The controlling shareholder is the admired public Canadian corporation Power Corp of Canada. Weapthsimple Trade was the first no-fee digital discount brokerage to operate in Canada.
So How Does One Fund a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it so straight forward to fund an account. Simply connect a chequing or savings account with your Trade account, and add money to your account in simply a few steps. Deposits from banks to Wealthsimple normally take only a couple of days. Funds can also be withdrawn your chequing or savings accounts with the same process.
What Other Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – An equivalent to Interac E-transfers which allow one to quickly and efficiently send cash to friends and family in Canada.
Wealthsimple Tax – Everything you require to prepare for tax year and file your tax return online free. It’s described as simple, accurate and always free tax return filing.
Wealthsimple Spend – A combination pre paid visa and savings account that allows one to earn 1% cashback on your purchases, and also earn a competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform that includes a variety of courses on topics like saving, investments, crypto, home buying and more.
Each of the listed features, along with Wealthsimple Trade can be accessed on the mobile app and from the website with a single login.
But How Can I Begin Using Wealthsimple Trade?
Click here to register for your Wealthsimple Trade account. As an exclusive registration bonus to our readers you’ll receive the cash value of a random Canadian stock valued at up to $4,500 CAD when you add funds to your account.
What if I Still Have Additional Questions Related to Visa Wealthsimple?
If this review didn’t given you the answers to all of your questions, and you’re still looking for more answers relating to Visa Wealthsimple, check out the Wealthsimple site to get answers to each your questions.