What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian web based investing, stocks and crypto trading web app that distinguishes itself from other apps by charging absolutely no fees.
A Toronto, Ontario based online financial services business founded in the Autumn of twenty fourteen originally as a robo advisor algorithmic automated trading app named Wealthsimple Invest, it has improved significantly over the last 8 years to also include Wealthsimple Trade, a no fee discount brokerage app.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade lets Canadian investors to trade both individual stocks and ETFs without paying any fees. The exception is when trading stocks and ETFs which are displayed in USD. In that case, they charge a currency conversion fee both when buying and selling. However, gone are the days of having to pay more than $7 per trade with digital discount brokerages as was normal a couple years past.
How Much in Funds do I Need in Order to Begin Investing on Wealthsimple Trade?
Wealthsimple is special in that they allow new customers to make a minimum deposit of only $1. Many alternative banks and brokerages have quite large initial deposit amounts of $1000-5K. This makes it difficult for the every day new investor to get started. With Wealthsimple Trade, you don’t have to already be wealthy to get started with trading stocks and ETFs.
So Does Wealthsimple Trade Have RRSP Accounts?
Yes. Wealthsimple Trade has CRA registered and non-registered account types. You can choose both RRSP and TFSA accounts in the setup phase.
Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade has a easy to use mobile app offered to download on both Apple and Google Play. The mobile app makes the registration phase and also trading of stocks and ETFs super a breeze.
But Is Wealthsimple Trade Legit?
Of course. Wealthsimple Trade is trustworthy. Wealthsimple has over 15 billion Canadian of Assets Under Management . These folks have been doing business for more than 7 years and also right now employs more than 600 Canadians. The majority owner is the respected publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade is the very first no-fees online discount brokerage operating in Canada.
So How Can I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it incredibly simple to fund an account. Just connect the app to a chequing or savings account to your Trade account, and then add funds to your account in simply a few clicks. Deposits from your bank to Wealthsimple usually take a few days. Funds can just as easily be withdrawn a chequing or savings accounts through the exact same method.
Which Additional Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is equivalent to E-transfers that allow anyone to quickly and efficiently transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to get ready for tax year and file your tax return online for free. It’s pitched to be simple, accurate and always free tax filing.
Wealthsimple Spend – A hybrid prepaid visa and savings product that allows you to recieve 1% cashback on your everyday purchases, as well as earn a very competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform that offers a ton of online courses on topics like saving, investments, crypto, mortgages and much more.
Each of the mentioned features, along with Wealthsimple Trade can be found inside the app and at the site with your Wealthsimple login.
So How do I Begin Using Wealthsimple Trade?
Click here to create a new Wealthsimple Trade account. As a special registration bonus offer to our audience you will receive the cash value of a random Canadian stock worth $25 up to $4,500 CAD once you deposit to your account.
What if I Still Have Additional Questions Related to Yield Wealthsimple?
If this article hasn’t answered each of your questions, and you’re searching for further information about Yield Wealthsimple, visit the Wealthsimple website to get answers to all your questions.