What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian online Financial, stocks plus crypto trading web app that distinguishes itself from similar apps by charging no fees.
A leading Canadian online financial services company founded in the Fall 2014 exclusively as a robo-advisor algorithmic automated trading platform named Wealthsimple Invest, it has grown significantly over the last 8 years to also feature Wealthsimple Trade, a no fees discount brokerage app.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade lets consumers to trade stand alone stocks and also ETFs without paying any commissions. The exception to this is when you’re trading stocks that are displayed in US Dollars. In which case, they do charge a small currency conversion fee both when buying and selling. However, behind us are the times of having to pay Upwards of $7 per trade with digital discount brokerages as was common only a few years past.
Exactly How Much Cash Will I Need to Have to Start Investing on Wealthsimple Trade?
Wealthsimple is awesome such that they will allow investors to make a minimum deposit of just $1. The majority of alternative banks and discount brokerages have large minimum deposit amounts of $1,000-$5,000. This makes it difficult for the everyday investor to start investing. With Wealthsimple Trade, you don’t need to already be wealthy to start trading stocks and ETFs.
So Does Wealthsimple Trade Have RRSP Accounts?
Of course. Wealthsimple Trade offers both CRA registered and non-registered account types. You are able to select both RRSP and TFSA accounts in the setup phase.
But Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade offers a modern mobile app that is offered to download on both iOS and also Google Play. The app makes the enrollment steps and trading of stocks and ETFs super easy.
Is Wealthsimple Trade Safe?
For sure. Wealthsimple Trade is secure. Wealthsimple reports more than 15 billion Canadian of Assets Under Management (AUM). These folks have been expanding for more than 7 years and also right now employs over 600 people. The majority shareholder is the respected public Canadian corporation Power Corp of Canada. Weapthsimple Trade was the first no-fee online discount brokerage operating in Canada.
So How Do I Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it incredibly simple to add money to your account. Just connect a chequing or savings account with your Trade account, and then add funds to your account in just a couple of clicks. Deposits from your bank to Wealthsimple normally take only a few days. Funds can also be moved back to your chequing or savings accounts with the exact same steps.
Which Other Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An alternative to Interac e-Transfers that allows you to quickly and easily send money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for this tax year and file your tax return online free. It’s advertised to be simple, accurate and always totally free income tax filing.
Wealthsimple Spend – A hybrid pre paid debit card and savings product which allows one to earn 1% cashback on your purchases, and also earn a competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform that includes a variety of different online courses on saving, investing, crypto, real estate and more.
Every one of the mentioned features, including Wealthsimple Trade may be found inside the app or on the site with one login.
But How Should I Get Started With Wealthsimple Trade?
Click here to setup a Wealthsimple Trade account. For an exclusive signup bonus for our readers you’ll receive the equivalent cash value of a Canadian stock valued at up to $4,500 Canadian when you fund your account.
But What if I Still Have Questions Concerning Wealthsimple 0 Commission?
If this review still hasn’t answered all of your questions, and you’re still browsing for more specific answers about Wealthsimple 0 Commission, check out the Wealthsimple website for answers to every one of your questions.