What is Wealthsimple?
Wealthsimple is an easy to use Canadian web based Financial, stock and crypto trading platform that differentiates itself from the competition by charging absolutely no fees.
A leading Canadian fintech company launched in Autumn of twenty fourteen exclusively as a robo-advisor trading app called Wealthsimple Invest, it has grown substantially over the past eight years to include Wealthsimple Trade, a zero fees discount brokerage app.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade allows consumers to trade stand alone stocks and also ETFs without having to pay any fees. The exception to this is when trading stocks and ETFs that are displayed in USD currency. In that case, they will charge a small currency conversion fee when buying and selling. But, behind us are the days of having to pay $7-12 for each trade with digital discount brokerages as was normal a couple years past.
Exactly How Much Cash do I Need in Order to Get Started on Wealthsimple Trade?
Wealthsimple is cool in that they will allow Canadians to make a minimum deposit of just $1. Many alternative banks and discount brokerages have quite large min deposit amounts of 1k-5K. This makes it hard for the typical new investor to start. With Wealthsimple Trade, you won’t have to already be wealthy to start trading stocks and ETFs.
But Does Wealthsimple Trade Offer RRSP Accounts?
They do. Wealthsimple Trade offers registered and non-CRA-registered account types. You are able to choose both RRSP and TFSA account types during the setup process.
So Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade offers a modern mobile app offered on both iOS and Google Play. The app makes the enrollment steps and also trading of stocks and ETFs super easy.
So Is Wealthsimple Trade Secure?
Most definitely. Wealthsimple Trade is legit. Wealthsimple reports over 15 billion CAD in Assets Under Management . This company has been in business for more than 7 years and also currently employs more than 600 people. The primary shareholder is the respected publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the very first no-fee online brokerage operating in Canada.
So How Can I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it very easy to add money to your account. Simply connect the app to a chequing or savings account with your Trade account, and then add funds to your account in simply a few steps. Deposits from your bank to Wealthsimple usually take a couple of days. Funds can the same way can be moved to a chequing or savings account using the same steps.
What Additional Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An alternative to E-transfers that allow anyone to quickly and simply transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to prepare for this tax season and file your taxes online free. It’s advertised as easy, accurate and always free income tax filing.
Wealthsimple Spend – A hybrid pre paid debit card and savings account that lets you to recieve 1% cashback on your spending, as well as get a very competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform which includes a bunch of courses on topics like saving, investing, crypto, real estate and much more.
All of the mentioned products, including Wealthsimple Trade can be found on the mobile app and at their website with your Wealthsimple login.
So How Should I Get Started Using Wealthsimple Trade?
Click here to register for a new Wealthsimple Trade account. As a special registration bonus for our audience you will receive the cash value of a share valued at up to $4,500 Canadian as soon as you make an initial deposit to your account.
But What if I Still Have Questions Concerning Wealthsimple Ynab?
If this blog post didn’t answered each of your questions, and you’re still browsing for further info about Wealthsimple Ynab, visit the Wealthsimple site to find answers to each your questions.