What is Wealthsimple?
Wealthsimple is an easy to use Canadian online investing, securities and crypto trading platform that sets itself apart from similar apps by charging no fees.
A Toronto, Ontario based fintech business founded in Autumn of twenty fourteen originally as a robo-advisor algorithmic trading app named Wealthsimple Invest, it has improved considerably over the previous eight years to also feature Wealthsimple Trade, a zero fees discount brokerage service.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade lets Canadian consumers trade stand alone stocks and also ETFs without paying any fees. The exception to this is when trading ETFs and stocks that are displayed in USD. In that case, they will charge a currency conversion fee when buying and selling. But, behind us are the days of paying more than $7 per trade with online discount brokerages as was normal only a couple years past.
How Much Money do I Need in Order to Begin Investing With Wealthsimple Trade?
Wealthsimple is special in that they will allow Canadians to make a minimum deposit of just $1. The majority of traditional banks and brokerages have sizeable initial deposit amounts of $1,000-$5000. This makes it impossible for the common new investor to start investing. With Wealthsimple Trade, you don’t need to be wealthy to get started with trading stocks and ETFs.
But Does Wealthsimple Trade Have RRSP Accounts?
Of course. Wealthsimple Trade offers both CRA registered and non-CRA-registered account types. One are free to choose both RRSP and TFSA accounts in the setup phase.
But Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade has a modern mobile app offered to download on both IOS and Google Play. The mobile app makes the registration phase and also trading of stocks and ETFs a breeze.
But Is Wealthsimple Trade Legit?
Yes. Wealthsimple Trade is trustworthy. Wealthsimple reports in excess of 15 billion Canadian in Assets Under Management (AUM). These folks have been expanding for more than 7 years and at this time employs more than 600 folks. The primary shareholder is the respected public Canadian entity Power Corp of Canada. Weapthsimple Trade was the first no-fee digital brokerage operating in Canada.
So How Can I Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it quite simple to deposit to an account. Just connect a chequing or savings account with your Trade account, then fund your account in only a few clicks. Deposits from banks to Wealthsimple normally take just a few days. Funds can the same way can be withdrawn a chequing or savings accounts by the exact same process.
Which Additional Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is equivalent to Interac E-Transfers which allows you to quickly and simply transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you require to prepare for this tax year and submit your tax return online for free. It’s pitched to be easy, accurate and always free tax filing.
Wealthsimple Spend – A combination pre paid debit card and savings product which lets you to get 1% cashback on all your everyday spending, as well as get a very competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform which includes a ton of courses on topics like saving, investments, crypto, home buying and much more.
Every one of the above products, along with Wealthsimple Trade can be accessed inside the app or on the website with a single login.
How do I Begin With Wealthsimple Trade?
Click here to setup your Wealthsimple Trade account. For a special signup bonus to our audience you will get the equivalent cash value of a random stock valued at up to $4,500 Canadian as soon as you make an initial deposit to your account.
But What if I Still Have Additional Questions Concerning Wealthsimple 2022?
If this blog post hasn’t answered each of your questions, and you’re still searching for further specific answers about Wealthsimple 2022, visit the Wealthsimple site to find answers to all your questions.