What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian web based Financial, securities plus crypto trading web app that distinguishes itself from its competitors by charging no fees.
A fintech company founded in Fall twenty fourteen originally as a robo advisor algorithmic automated trading platform called Wealthsimple Invest, it has grown considerably over the previous eight years to feature Wealthsimple Trade, a no fee discount brokerage platform.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade lets consumers trade both stand alone stocks and also ETFs without needing to pay fees. The exception to this is when trading securities that are displayed in US Dollars. In that case, they will charge a nominal currency conversion fee when buying and selling. But, gone are the times of paying more than $7 per trade with discount brokerages as was normal a few years ago.
How Much Cash Will I Need to Begin Investing on Wealthsimple Trade?
Wealthsimple is unique such that they allow Canadians to make a minimum deposit of just $1. The majority of traditional banks and brokerages have quite large minimum deposit amounts of 1k-$5,000. This makes it tough for the everyday investor to start investing. With Wealthsimple Trade, you won’t have to be wealthy to start trading stocks and ETFs.
Does Wealthsimple Trade Have RRSP Accounts?
It does. Wealthsimple Trade has available CRA registered and non-CRA-registered accounts. You are able to choose both RRSP and TFSA accounts during the setup wizard.
But Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade offers a convenient mobile app available on both IOS and Android. The app makes the signup phase and trading of stocks and ETFs very a breeze.
Is Wealthsimple Trade Safe?
Of course. Wealthsimple Trade is trustworthy. Wealthsimple has in excess of 15 billion CAD of Assets Under Management (AUM). This company has been in business for more than 7 years and also employs more than 600 people. The controlling shareholder is the admired publicly traded Canadian entity Power Corp of Canada. Weapthsimple Trade is the first no-fees online brokerage operating in Canada.
But How Does One Fund a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it incredibly easy to deposit to your account. Just connect a chequing or savings account to your Trade account, and fund your account in just a couple of clicks. Deposits from banks to Wealthsimple typically take a couple of days. Funds can just as easily be moved to a chequing or savings accounts by using the same process.
What Additional Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is equivalent to e-transfers that allow you to quickly and easily transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for tax season and file your tax return online for 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 allows one to recieve 1% cashback on all your everyday purchases, as well as get a competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform that includes a ton of courses on different topics such as saving, investing, crypto, home buying and much more.
Each of the above products, along with Wealthsimple Trade may be accessed on the app or at the website with your Wealthsimple login.
So How Should I Get Started Using Wealthsimple Trade?
Click here to create a Wealthsimple Trade account. As a special registration bonus offer to our readers you will get the equivalent cash value of a random Canadian stock worth up to $4,500 Canadian once you deposit to your account.
So What if I Still Have Questions About Wealthsimple Website?
If this review didn’t given you the answers to each of your questions, and you’re still browsing for additional specific info relating to Wealthsimple Website, go to the Wealthsimple website to find answers to all your questions.