What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian online investing, stocks plus crypto trading platform that distinguishes itself from the competition by charging no fees.
A online financial services company founded in the Autumn twenty fourteen originally as a robo advisor trading app called Wealthsimple Invest, it has grown significantly over the previous eight years to include Wealthsimple Trade, a no fees discount brokerage app.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade lets Canadian investors to trade both single stocks and also ETFs without paying any commissions. The exception to this is when you’re trading ETFs and stocks that are denominated in USD currency. In that case, they will charge a nominal currency conversion fee both when buying and selling. But, behind us are the days of having to pay $7-12 per trade with digital discount brokerages as was the case just a couple years past.
How Much Money do I Need in Order to Get Started on Wealthsimple Trade?
Wealthsimple is cool in that they allow Canadian investors to make a minimum deposit of just $1. Many traditional banks and discount brokerages have quite large minimum deposit amounts of $1000-5k. This makes it hard for the every day investor to start. With Wealthsimple Trade, one doesn’t need to be wealthy to get started with trading stocks and ETFs.
Does Wealthsimple Trade Have RRSP Accounts?
It does. Wealthsimple Trade offers both CRA registered and non-registered account types. One can choose both RRSP and TFSA account types during the setup process.
But Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade offers a well designed mobile app that is available to download on both iOS and Android. The app makes the enrollment phase and the trading of stocks and ETFs simple.
Is Wealthsimple Trade Secure?
Definitely. Wealthsimple Trade is trustworthy. Wealthsimple reports in excess of 15 billion CAD in Assets Under Management . they’ve been operating for more than 7 years and employs more than 600 Canadians. The main shareholder is the respected publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade is the first no-fee digital discount brokerage to operate in Canada.
So How Does One Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it quite straight forward to add funds to your account. Simply connect to a chequing or savings account to your Trade account, then add money to your account in just a few steps. Deposits from your bank to Wealthsimple usually take only a couple of days. Funds can just as easily be moved to a chequing or savings accounts through the exact same process.
Which Additional Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is alternative to Interac e-Transfers which allows one to quickly and efficiently transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for this tax year and file your tax return online free. It’s advertised to be simple, accurate and always totally free tax filing.
Wealthsimple Spend – A hybrid pre paid visa and savings account that lets one to earn 1% cashback on all your everyday spending, as well as earn a very competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance platform which includes a bunch of online courses on topics like saving, investing, crypto, home buying and much more.
Each of the above features, along with Wealthsimple Trade can be accessed within the mobile app and at the site with a single login.
But How Should I Get Started Using Wealthsimple Trade?
Click here to create your Wealthsimple Trade account. For an exclusive registration bonus for our readers you’ll get the equivalent cash value of a Canadian stock worth up to $4,500 Canadian when you deposit to your account.
What if I Still Have Additional Questions Concerning Zim Stock Wealthsimple?
If this article still hasn’t given you the answers to all of your questions, and you’re still looking for further specific information about Zim Stock Wealthsimple, go to the Wealthsimple site to find answers to all your questions.