What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian digital Financial, securities and crypto trading app that differentiates itself from similar apps by charging absolutely no fees.
A leading Canadian fintech company founded in the Autumn of 2014 exclusively as a robo-advisor algorithmic trading app called Wealthsimple Invest, it has evolved considerably over the last eight years to also include Wealthsimple Trade, a zero fee discount brokerage platform.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade lets Canadian investors to trade both single stocks and ETFs without having to pay any fees. The exception to this is when trading ETFs and stocks that are displayed in USD. In which case, they do charge a currency conversion fee when buying and selling. But, gone are the times of paying $7-12 for each trade with digital discount brokerages as was the case only a couple years ago.
How Much in Funds Will I Need in Order to Begin Investing on Wealthsimple Trade?
Wealthsimple is awesome such that they allow Canadians to make a minimum deposit of just $1. Many alternative banks and discount brokerages have quite large minimum deposit amounts of 1K-5k. This makes it tough for the typical investor to get started. With Wealthsimple Trade, you won’t have to already be wealthy to get started with trading stocks and ETFs.
But Does Wealthsimple Trade Offer RRSP Accounts?
Yes. Wealthsimple Trade offers both CRA registered and non-registered accounts. You can choose both RRSP and TFSA account types during the setup process.
But Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade has a modern mobile app available on both iOS and Android. The smartphone app makes the registration process and also the trading of stocks and ETFs super simple.
But Is Wealthsimple Trade Legit?
Of course. Wealthsimple Trade is secure. Wealthsimple boasts over 15 billion Canadian in Assets Under Management (AUM). These folks have been operating for more than 7 years and employs roughly 600 people. The majority owner is the admired publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade is the very first no-fees digital discount brokerage to operate in Canada.
How Do I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it very simple to fund an account. Simply connect to a chequing or savings account to your Trade account, and then add money to your account in only a few clicks. Deposits from banks to Wealthsimple typically take a couple of days. Funds can also be moved to a chequing or savings account with the same process.
What Other Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An equivalent to Interac e-transfers that allows one to quickly and simply send money 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 advertised to be easy, accurate and always totally free tax return filing.
Wealthsimple Spend – A combination pre paid debit card and savings product which allows one to earn 1% cashback on your everyday purchases, as well as get a very competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform that offers a ton of different online courses on topics like saving, investing, crypto, home buying and more.
All of the listed features, along with Wealthsimple Trade can be found inside the mobile app or from their site with a single login.
How Can I Begin With Wealthsimple Trade?
Click here to setup a Wealthsimple Trade account. For a special registration bonus to our audience you will get the equivalent cash value of a share worth up to $4,500 CAD as soon as you make an initial deposit to your account.
So What if I Still Have Questions About Linkedin Wealthsimple?
If this blog post didn’t given you the answers to all of your questions, and you’re still browsing for additional answers relating to Can Wealthsimple Trade Us Stocks, visit the Wealthsimple site to find answers to every one of your questions.