What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian online Financial, stock and crypto trading platform that distinguishes itself from other apps by charging no fees.
A leading Canadian fintech business launched in Fall of 2014 exclusively as a robo-advisor algorithmic automated trading app called Wealthsimple Invest, it has improved substantially over the last 8 years to also include Wealthsimple Trade, a zero fees discount brokerage service.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade lets consumers to trade both single stocks and ETFs without needing to pay any fees. The exception is when trading stocks that are denominated in USD currency. In which case, they will charge a small currency conversion fee both when buying and selling. However, behind us are the times of paying more than $7 per trade with discount brokerages as was normal only a couple years past.
Exactly How Much Money do I Need to Have to Start on Wealthsimple Trade?
Wealthsimple is special such that they allow Canadian investors to make a minimum deposit of just $1. Many alternative banks and brokerages have quite large minimum deposit amounts of 1k-$5,000. This makes it difficult for the everyday new investor to get started. With Wealthsimple Trade, one doesn’t have to already be wealthy to begin trading stocks and ETFs.
So Does Wealthsimple Trade Offer RRSP Accounts?
Of course. Wealthsimple Trade has available both registered and non-CRA-registered accounts. One can select both RRSP and TFSA account types in the setup process.
But Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade offers a convenient mobile app that is offered to download on both IOS and also Android. The smartphone app makes the enrollment phase and the trading of stocks and ETFs very a breeze.
But Is Wealthsimple Trade Secure?
Most definitely. Wealthsimple Trade is trustworthy. Wealthsimple has over 15 billion CAD of Assets Under Management (AUM). This company has been doing business for more than 7 years and also right now employs about 600 people. The main owner is the admired public Canadian corporation Power Corp of Canada. Weapthsimple Trade was the very first no-fee online brokerage to operate in Canada.
But How Does One Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it so easy to add funds to a new account. Simply connect the app to a chequing or savings account with your Trade account, and add funds to your account in just a couple of steps. Deposits from financial institutions to Wealthsimple typically take only a couple of days. Funds can the same way can be moved to your chequing or savings account by the exact same process.
Which Additional Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is equivalent to Interac E-transfers which allows you to quickly and easily send money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to get ready for this tax season and submit your taxes online free. It’s pitched to be easy, accurate and always free tax return filing.
Wealthsimple Spend – A hybrid pre paid visa and savings account that allows one to recieve 1% cashback on all your purchases, and also earn a competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform that offers a ton of courses on topics like saving, investing, crypto, mortgages and much more.
Each of the above features, along with Wealthsimple Trade may be found in the mobile app or at their site with one login.
But How Should I Get Started Using Wealthsimple Trade?
Click here to register for your Wealthsimple Trade account. As a special registration bonus to our audience you’ll receive the equivalent cash value of a stock worth up to $4,500 Canadian when you make an initial deposit to your account.
What if I Still Have Questions About Wealthsimple X Waterloo?
If this review hasn’t given you the answers to all of your questions, and you’re searching for more specific facts relating to Wealthsimple X Waterloo, check out the Wealthsimple site for answers to all your questions.