What is Wealthsimple?
Wealthsimple is a simple to use Canadian web based Financial, stock and crypto trading platform that sets itself apart from its competitors by charging no fees.
A Toronto, Ontario based online financial services business launched in Fall of 2014 exclusively as a robo-advisor trading app called Wealthsimple Invest, it has changed significantly over the past 8 years to also feature Wealthsimple Trade, a zero fee discount brokerage service.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade allows investors to trade single stocks and ETFs without paying fees. The exception is when you’re trading stocks and ETFs that are displayed in USD currency. In that case, they do charge a nominal currency conversion fee when buying and selling. However, gone are the days of having to pay Upwards of $7 per trade with discount brokerages as was common only a couple years past.
Exactly How Much Cash do I Need to Get Started on Wealthsimple Trade?
Wealthsimple is cool in that they will allow Canadian investors to make a minimum deposit of just $1. Most alternative banks and brokerages have quite large min deposit amounts of 1K-$5,000. This makes it difficult for the normal new investor to get started. With Wealthsimple Trade, you won’t need to be wealthy to begin trading stocks and ETFs.
So Does Wealthsimple Trade Offer RRSP Accounts?
Of course. Wealthsimple Trade offers both registered and non-registered account types. One can select both RRSP and TFSA account types in the setup process.
But Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade offers a modern mobile app offered to download on both Apple and also Android. The smartphone app makes the signup steps and also the trading of stocks and ETFs incredibly easy.
Is Wealthsimple Trade Trustworthy?
. Wealthsimple Trade is safe. Wealthsimple boasts in excess of 15 billion Canadian in Assets Under Management . This company has been operating for more than 7 years and now employs roughly 600 people. The primary shareholder is the large public Canadian company Power Corp of Canada. Weapthsimple Trade was the very first no-fee online brokerage operating in Canada.
But How Does One Fund a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it incredibly easy to fund your account. Simply connect the app to a chequing or savings account with your Trade account, and then fund your account in just a couple of clicks. Deposits from your bank to Wealthsimple normally take only a few days. Funds can just as easily be moved back to your chequing or savings account by using the exact same process.
What Additional Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is equivalent to Interac e-Transfers which allows anyone to quickly and simply send cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for this tax season and file your taxes online free. It’s described as simple, accurate and always totally free tax filing.
Wealthsimple Spend – A hybrid prepaid visa and savings product which lets one to earn 1% cashback on your everyday spending, and also earn a competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform that includes a bunch of different online courses on saving, investments, crypto, home buying and more.
Every one of the mentioned products, including Wealthsimple Trade can be found on the app or from the website with one login.
But How do I Begin With Wealthsimple Trade?
Click here to setup your Wealthsimple Trade account. For a special registration bonus to our audience you will get the equivalent cash value of a Canadian stock valued at up to $4,500 Canadian when you make an initial deposit to your account.
What if I Still Have Additional Questions About Zoe Wealthsimple?
If this blog post didn’t given you the answers to each of your questions, and you’re still searching for additional specific info relating to Zoe Wealthsimple, visit the Wealthsimple website to get answers to all your questions.