What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian web based investing, securities plus crypto trading app that differentiates itself from its competitors by charging absolutely no fees.
A Toronto, Ontario based fintech business launched in the Autumn of 2014 originally as a robo-advisor automated trading platform called Wealthsimple Invest, it has improved substantially over the past eight years to feature Wealthsimple Trade, a no fees discount brokerage service.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade allows Canadian consumers to trade both individual stocks and also ETFs without paying any commissions. The exception is when you’re trading securities that are denominated in US Dollars. In that case, they will charge a currency conversion fee when buying and selling. However, gone are the times of having to pay more than $7 per trade with digital discount brokerages as was common just a few years past.
How Much Money do I Need to Have to Get Started on Wealthsimple Trade?
Wealthsimple is awesome in that they allow Canadians to make a minimum deposit of just $1. The majority of alternative banks and brokerages have sizeable minimum deposit amounts of 1k-$5,000. This makes it impossible for the every day investor to start investing. With Wealthsimple Trade, one doesn’t need to be wealthy to start trading stocks and ETFs.
Does Wealthsimple Trade Offer RRSP Accounts?
They do. Wealthsimple Trade has available registered and non-registered accounts. You are free to select both RRSP and TFSA account types in the setup wizard.
Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade has a easy to use mobile app that is offered to download on both iOS and also Android. The mobile app makes the enrollment process and trading of stocks and ETFs easy.
So Is Wealthsimple Trade Legit?
. Wealthsimple Trade is secure. Wealthsimple has in excess of 15 billion Canadian of Assets Under Management . These folks have been doing business for more than 7 years and at this time employs about 600 people. The main owner is the respected publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the first no-fee digital brokerage operating in Canada.
How Does One Fund a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it incredibly simple to fund a new account. Just connect the app to a chequing or savings account with your Trade account, then add money to your account in just a couple of steps. Deposits from your bank to Wealthsimple normally take just a couple of days. Funds can the same way can be moved back to your chequing or savings accounts by using the same steps.
Which Additional Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is alternative to E-Transfers which allows you 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 for free. It’s described as simple, accurate and always free tax return filing.
Wealthsimple Spend – A combination prepaid visa and savings account which lets one to get 1% cashback on your purchases, as well as earn a competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform which includes a bunch of online courses on topics like saving, investing, crypto, real estate and much more.
All of the listed products, including Wealthsimple Trade can be found inside the app and on the website with one login.
How do I Start With Wealthsimple Trade?
Click here to create a Wealthsimple Trade account. For an exclusive registration bonus offer for our audience you’ll receive the cash value of a random share worth $25 up to $4,500 CAD when you fund your account.
So What if I Still Have Questions Related to Wealthsimple Yearly Returns?
If this blog post still hasn’t given you the answers to each of your questions, and you’re still looking for additional specific answers about Wealthsimple Yearly Returns, go to the Wealthsimple website to find answers to every one of your questions.