What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian digital Financial, stock and crypto trading web app that sets itself apart from its competitors by charging no fees.
A online financial services company launched in Fall 2014 originally as a robo advisor trading app named Wealthsimple Invest, it has evolved considerably over the past 8 years to also include Wealthsimple Trade, a zero fee discount brokerage service.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade lets consumers trade both single stocks and also ETFs without needing to pay fees. The exception is when you’re trading stocks and ETFs which are displayed in US Dollars. In that case, they charge a currency conversion fee both when buying and selling. However, past us are the days of having to pay more than $7 per each trade with discount brokerages as was expected a couple years ago.
Exactly How Much Cash Will I Need to Start on Wealthsimple Trade?
Wealthsimple is awesome in that they allow Canadians to make a minimum deposit of only $1. The majority of traditional banks and brokerages have quite large min deposit amounts of $1000-5k. This makes it impossible for the every day new investor to get started. With Wealthsimple Trade, you don’t have to already be wealthy to begin trading stocks and ETFs.
Does Wealthsimple Trade Have RRSP Accounts?
Yes. Wealthsimple Trade has registered and non-CRA-registered account types. You are free to select between both RRSP and TFSA accounts in the setup phase.
But Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade has a well designed mobile app offered to download on both iOS and also Android. The smartphone app makes the enrollment steps and the trading of stocks and ETFs very easy.
So Is Wealthsimple Trade Legit?
Most definitely. Wealthsimple Trade is legit. Wealthsimple boasts in excess of 15 billion CAD of Assets Under Management . These folks have been doing business for more than 7 years and also right now employs about 600 people. The main shareholder is the large public Canadian entity Power Corp of Canada. Weapthsimple Trade is the very first no-fee online discount brokerage to operate in Canada.
But How Do I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it easy to add money to an account. Just connect a chequing or savings account to your Trade account, and fund your account in simply a couple of steps. Deposits from financial institutions to Wealthsimple typically take only a couple of days. Funds can just as easily be moved back to a chequing or savings account with the exact same steps.
What Other Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is alternative to Interac e-Transfers that allow you to quickly and efficiently transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you require to prepare for this tax season and submit your tax return online for free. It’s described as simple, accurate and always free tax return filing.
Wealthsimple Spend – A combination pre paid debit card and savings product which lets one to recieve 1% cashback on your purchases, as well as get a competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance platform that offers a ton of online courses on saving, investments, crypto, mortgages and more.
Every one of the mentioned products, including Wealthsimple Trade may be accessed in the app and from their website with a single login.
So How Should I Begin With Wealthsimple Trade?
Click here to setup a Wealthsimple Trade account. As a special registration bonus offer to our audience you’ll get the equivalent cash value of a stock worth $25 up to $4,500 Canadian once you fund your account.
But What if I Still Have Questions About Limit Sell Wealthsimple?
If this article didn’t answered each of your questions, and you’re still browsing for further answers about Close Wealthsimple Trade Account, visit the Wealthsimple website to find answers to every one of your questions.