What is Wealthsimple?
Wealthsimple is a simple to use Canadian digital investing, securities plus crypto trading platform that distinguishes itself from its competitors by charging no fees.
A leading Canadian fintech company launched in Fall 2014 originally as a robo-advisor algorithmic trading platform named Wealthsimple Invest, it has grown significantly over the previous 8 years to feature Wealthsimple Trade, a zero fee discount brokerage app.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade allows Canadian investors to trade stand alone stocks and ETFs without having to pay any fees. The exception to this is when trading stocks and ETFs that are displayed in US Dollars. In this case, they do charge a nominal currency conversion fee when buying and selling. But, past us are the times of paying $7-12 for each trade with discount brokerages as was normal a couple years ago.
How Much in Funds Will I Need in Order to Begin Investing on Wealthsimple Trade?
Wealthsimple is awesome in that they will allow Canadians to make a minimum deposit of only $1. The majority of traditional banks and discount brokerages have large minimum deposit amounts of 1K-5k. This makes it impossible for the everyday new investor to start. With Wealthsimple Trade, you don’t need to be wealthy to begin trading stocks and ETFs.
Does Wealthsimple Trade Have RRSP Accounts?
Yes. Wealthsimple Trade has both registered and non-CRA-registered account types. You may select both RRSP and TFSA account types in the setup wizard.
But Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade has a convenient mobile app available on Apple and also Android. The mobile app makes the signup process and trading of stocks and ETFs incredibly a breeze.
So Is Wealthsimple Trade Trustworthy?
Definitely. Wealthsimple Trade is secure. Wealthsimple boasts over 15 billion Canadian of Assets Under Management (AUM). These folks have been in business for more than 7 years and also employs over 600 Canadians. The controlling shareholder is the large publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade is the very first no-fee online discount brokerage operating in Canada.
So How Can I Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it very easy to add funds to an account. Simply connect a chequing or savings account with your Trade account, and fund your account in only a few clicks. Deposits from your bank to Wealthsimple usually take only a couple of days. Funds can also be withdrawn a chequing or savings account by using the same steps.
Which Other Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is alternative to Interac e-transfers which allow one to quickly and easily transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you require to prepare for tax season and file your tax return online free. It’s advertised as simple, accurate and always free tax return filing.
Wealthsimple Spend – A hybrid prepaid visa and savings product that lets one to earn 1% cashback on your everyday spending, and also get a competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance platform which offers a bunch of courses on topics like saving, investments, crypto, mortgages and much more.
All of the listed products, including Wealthsimple Trade may be accessed inside the mobile app and at their site with a single login.
But How Should I Get Started With Wealthsimple Trade?
Click here to create your Wealthsimple Trade account. As an exclusive signup bonus offer to our readers you will get the equivalent cash value of a Canadian stock worth $25 up to $4,500 CAD as soon as you add funds to your account.
So What if I Still Have Questions Concerning Wealthsimple Withdrawal Time?
If this blog post didn’t given you the answers to all of your questions, and you’re looking for additional specific facts relating to Wealthsimple Withdrawal Time, visit the Wealthsimple site to get answers to each your questions.