What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian web based investing, securities and crypto trading web app that sets itself apart from the competition by charging absolutely no fees.
A Toronto, Ontario based fintech business launched in Fall of twenty fourteen originally as a robo advisor trading platform named Wealthsimple Invest, it has grown substantially over the previous 8 years to also include Wealthsimple Trade, a zero fees discount brokerage app.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade lets consumers to trade both stand alone stocks and ETFs without paying fees. The exception to this is when you’re trading stocks and ETFs which are displayed in US Dollars. In that case, they do charge a small currency conversion fee both when buying and selling. However, behind us are the days of having to pay Upwards of $7 per trade with online discount brokerages as was common a few years past.
How Much Money Will I Need to Have in Order to Start on Wealthsimple Trade?
Wealthsimple is special such that they allow Canadians to make a minimum deposit of just $1. Most traditional banks and discount brokerages have large initial deposit amounts of 1K-$5000. This makes it impossible for the common new investor to start. With Wealthsimple Trade, one doesn’t have to already be wealthy to begin trading stocks and ETFs.
But Does Wealthsimple Trade Have RRSP Accounts?
Of course. Wealthsimple Trade has CRA registered and non-registered account types. One can choose between both RRSP and TFSA accounts during the setup wizard.
Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade has a convenient mobile app that is offered on IOS and also Android. The app makes the signup process and the trading of stocks and ETFs painless.
Is Wealthsimple Trade Trustworthy?
Most definitely. Wealthsimple Trade is trustworthy. Wealthsimple boasts in excess of 15 billion CAD in Assets Under Management (AUM). These folks have been expanding for more than 7 years and also right now employs more than 600 folks. The main owner is the respected publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade was the first no-fees digital discount brokerage operating in Canada.
How Does One Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it easy to deposit to a new account. Just connect to a chequing or savings account to your Trade account, then fund your account in simply a few steps. Deposits from banks to Wealthsimple normally take just a couple of days. Funds can the same way can be moved to a chequing or savings accounts with the exact same steps.
What Other Benefits and Products Are Available?
Wealthsimple Cash – An equivalent to E-Transfers that allows anyone to quickly and efficiently transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you need to prepare for this tax season and submit your tax return online free. It’s pitched to be simple, accurate and always free tax return filing.
Wealthsimple Spend – A hybrid prepaid visa and savings account that allows one to get 1% cashback on all your everyday spending, as well as earn a competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform which offers a ton of different online courses on saving, investing, crypto, real estate and much more.
Each of the above products, along with Wealthsimple Trade can be found on the app and at the website with one login.
How do I Begin With Wealthsimple Trade?
Click here to register for your Wealthsimple Trade account. As an exclusive registration bonus offer for our readers you will receive the cash value of a random stock valued at $25 up to $4,500 Canadian when you fund your account.
What if I Still Have Additional Questions Concerning Questrade Vs Wealthsimple Robo Advisor?
If this blog post still hasn’t given you the answers to each of your questions, and you’re browsing for additional specific info relating to Delete Wealthsimple Trade Account, visit the Wealthsimple website to get answers to all your questions.