What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian digital Financial, stocks and crypto trading web app that sets itself apart from similar apps by charging no fees.
A online financial services business founded in Fall 2014 exclusively as a robo-advisor trading app named Wealthsimple Invest, it has evolved considerably over the last eight years to feature Wealthsimple Trade, a zero fee discount brokerage app.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade allows investors trade individual stocks and ETFs without paying any fees. The exception to this is when trading stocks that are denominated in US Dollars. In that case, they charge a nominal currency conversion fee both when buying and selling. But, behind us are the times of having to pay more than $7 per trade with digital discount brokerages as was common just a couple years past.
How Much Cash do I Need to Have in Order to Start Investing With Wealthsimple Trade?
Wealthsimple is special in that they allow investors to make a minimum deposit of only $1. Most traditional banks and discount brokerages have large min deposit amounts of $1000-$5000. This makes it tough for the every day new investor to get started. With Wealthsimple Trade, one doesn’t need to already be wealthy to start trading stocks and ETFs.
Does Wealthsimple Trade Offer RRSP Accounts?
They do. Wealthsimple Trade offers registered and non-CRA-registered accounts. One are free to select between both RRSP and TFSA account types during the setup phase.
Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade offers a easy to use mobile app offered to download on IOS and Google Play. The app makes the enrollment steps and also the trading of stocks and ETFs super simple.
But Is Wealthsimple Trade Safe?
For sure. Wealthsimple Trade is secure. Wealthsimple has over 15 billion CAD in Assets Under Management . This company has been in business for more than 7 years and currently employs roughly 600 folks. The majority owner is the public Canadian entity Power Corp of Canada. Weapthsimple Trade is the very first no-fee online brokerage to operate in Canada.
How Can I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it quite straight forward to add funds to a new account. Simply connect a chequing or savings account with your Trade account, and then add money to your account in only a few clicks. Deposits from financial institutions to Wealthsimple typically take only a few days. Funds can just as easily be moved back to your chequing or savings accounts through the exact same method.
Which Additional Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is equivalent to e-transfers which allows you to quickly and easily transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to get ready for this tax season and file your taxes online free. It’s advertised as easy, accurate and always totally free income tax filing.
Wealthsimple Spend – A hybrid pre paid visa and savings account that lets one to get 1% cashback on your purchases, 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 variety of courses on different topics such as saving, investing, crypto, home buying and much more.
Every one of the mentioned products, along with Wealthsimple Trade can be accessed inside the app and at the site with one login.
So How Should 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 Canadian stock worth $25 up to $4,500 Canadian once you add funds to your account.
But What if I Still Have Additional Questions Related to Your Account Settings Are Incompatible Wealthsimple?
If this review hasn’t given you the answers to all of your questions, and you’re still searching for further facts relating to Your Account Settings Are Incompatible Wealthsimple, go to the Wealthsimple site to find answers to every one of your questions.