What is Wealthsimple?
Wealthsimple is a simple to use Canadian online Financial, stock plus crypto trading platform that differentiates itself from other apps by charging no fees.
A fintech company launched in the Autumn of 2014 exclusively as a robo-advisor automated trading app named Wealthsimple Invest, it has grown considerably over the last 8 years to include Wealthsimple Trade, a zero fee discount brokerage service.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade lets investors trade single stocks and also ETFs without paying commissions. The exception is when trading securities that are denominated in USD. In this case, they do charge a currency conversion fee both when buying and selling. But, gone are the times of paying Upwards of $7 for each trade with digital discount brokerages as was the case just a couple years past.
How Much Cash Will I Need in Order to Start on Wealthsimple Trade?
Wealthsimple is cool such that they will allow Canadian investors to make a minimum deposit of just $1. Most alternative banks and brokerages have sizeable min deposit amounts of 1k-$5,000. This makes it tough for the typical new investor to start investing. With Wealthsimple Trade, you don’t have to already be wealthy to get started with trading stocks and ETFs.
Does Wealthsimple Trade Have RRSP Accounts?
They do. Wealthsimple Trade has available both CRA registered and non-registered account types. One are able to select between both RRSP and TFSA account types in the setup process.
So Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade has a easy to use mobile app that is available on Apple and Android. The mobile app makes the enrollment phase and also trading of stocks and ETFs very painless.
But Is Wealthsimple Trade Safe?
For sure. Wealthsimple Trade is trustworthy. Wealthsimple reports in excess of 15 billion CAD in Assets Under Management . they’ve been in business for more than 7 years and also now employs more than 600 Canadians. The main owner is the respected publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade was the very first no-fee digital brokerage operating in Canada.
How Can I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it simple to add funds to your new account. Just connect to a chequing or savings account to your Trade account, and add funds to your account in only 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 accounts using the exact same process.
Which Other Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An equivalent to e-transfers that allow one to quickly and efficiently send money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to prepare for tax year and submit your tax return online free. It’s described to be easy, accurate and always totally free income tax filing.
Wealthsimple Spend – A combination prepaid visa and savings product which lets one to earn 1% cashback on your purchases, as well as earn a competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform that includes a ton of online courses on saving, investments, crypto, mortgages and more.
Each of the mentioned products, including Wealthsimple Trade can be found inside the mobile app or from their website with your Wealthsimple login.
How Can I Begin With Wealthsimple Trade?
Click here to signup for your Wealthsimple Trade account. As an exclusive signup bonus for our audience you will receive the cash value of a stock valued at $25 up to $4,500 Canadian once you add funds to your account.
But What if I Still Have Additional Questions About Joint Tfsa Wealthsimple?
If this article hasn’t answered each of your questions, and you’re still searching for further specific information relating to Apps Like Wealthsimple Trade, check out the Wealthsimple site to find answers to every one of your questions.