What is Wealthsimple?
Wealthsimple is an easy to use Canadian digital investing, securities and crypto trading platform that sets itself apart from similar apps by charging absolutely no fees.
A online financial services company founded in the Fall of 2014 originally as a robo-advisor trading platform named Wealthsimple Invest, it has evolved substantially over the last eight years to include Wealthsimple Trade, a no fee discount brokerage service.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade lets consumers to trade both individual stocks and also ETFs without having to pay any fees. The exception to this is when trading stocks and ETFs which are listed in US Dollars. In that case, they will charge a small currency conversion fee both when buying and selling. But, behind us are the times of paying more than $7 for each trade with digital discount brokerages as was normal just a few years past.
How Much Money do I Need to Have to Get Started on Wealthsimple Trade?
Wealthsimple is awesome in that they allow investors to make a minimum deposit of only $1. Many traditional banks and discount brokerages have sizeable min deposit amounts of $1,000-$5000. This makes it hard for the every day investor to start. With Wealthsimple Trade, you won’t have to be wealthy to begin trading stocks and ETFs.
So Does Wealthsimple Trade Offer RRSP Accounts?
Yes. Wealthsimple Trade offers both CRA registered and non-CRA-registered accounts. You are free to select both RRSP and TFSA accounts in the setup process.
Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade has a convenient mobile app available to download on IOS and Google Play. The smartphone app makes the enrollment process and trading of stocks and ETFs very easy.
But Is Wealthsimple Trade Secure?
Yes. Wealthsimple Trade is legit. Wealthsimple reports in excess of 15 billion CAD in Assets Under Management (AUM). they’ve been in business for more than 7 years and also at this time employs over 600 people. The majority owner is the large publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the very first no-fee digital discount brokerage to operate in Canada.
How Does One Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it quite easy to fund an account. Simply connect a chequing or savings account with your Trade account, and add money to your account in only a couple of steps. Deposits from your bank to Wealthsimple typically take only a couple of days. Funds can the same way can be moved back to a chequing or savings account by using the same method.
Which Additional Benefits and Products Are Available?
Wealthsimple Cash – An equivalent to e-Transfers which allows one to quickly and efficiently transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you require to prepare for this tax season and submit your tax return online for free. It’s pitched to be simple, accurate and always free income tax filing.
Wealthsimple Spend – A hybrid prepaid visa and savings account which allows one to get 1% cashback on your everyday purchases, as well as get a competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform that includes a variety of different online courses on topics like saving, investments, crypto, real estate and more.
All of the above products, along with Wealthsimple Trade may be found within the app and on the site with one login.
So How do I Begin Using Wealthsimple Trade?
Click here to register for a new Wealthsimple Trade account. As a special signup bonus offer to our readers you’ll get the cash value of a share worth up to $4,500 CAD once you fund your account.
So What if I Still Have Additional Questions Related to Wealthsimple Valuation 2022?
If this article didn’t given you the answers to each of your questions, and you’re browsing for more info about Wealthsimple Valuation 2022, visit the Wealthsimple site for answers to every one of your questions.