What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian web based investing, securities and crypto trading app that differentiates itself from similar apps by charging absolutely no fees.
A leading Canadian fintech company founded in Autumn of 2014 originally as a robo-advisor automated trading platform named Wealthsimple Invest, it has changed significantly over the previous eight years to also feature Wealthsimple Trade, a no fee discount brokerage app.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade allows Canadian consumers trade both single stocks and ETFs without paying commissions. The exception is when you’re trading stocks and ETFs which are denominated in USD. In that case, they charge a small currency conversion fee when buying and selling. However, behind us are the times of having to pay $7-12 per trade with online discount brokerages as was normal only a few years past.
How Much Money do I Need to Have to Start Investing With Wealthsimple Trade?
Wealthsimple is unique in that they allow new customers to make a minimum deposit of just $1. The majority of traditional banks and brokerages have large minimum deposit amounts of $1000-5K. This makes it hard for the everyday new investor to get started. With Wealthsimple Trade, you won’t have to be wealthy to get started with trading stocks and ETFs.
But Does Wealthsimple Trade Offer Registered Accounts?
They do. Wealthsimple Trade has CRA registered and non-registered accounts. One may select between both RRSP and TFSA accounts in the setup wizard.
Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade offers a convenient mobile app that is available to download on iOS and also Android. The mobile app makes the signup phase and also trading of stocks and ETFs truly easy.
But Is Wealthsimple Trade Legit?
Definitely. Wealthsimple Trade is safe. Wealthsimple has over 15 billion CAD of Assets Under Management (AUM). they’ve been doing business for more than 7 years and also now employs roughly 600 Canadians. The main owner is the admired publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade was the very first no-fees digital discount brokerage operating in Canada.
How Does One Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it very simple to deposit to a new account. Simply connect a chequing or savings account to your Trade account, and then fund your account in just a couple of clicks. Deposits from financial institutions to Wealthsimple normally take a couple of days. Funds can the same way can be moved back to a chequing or savings accounts using the same steps.
Which Additional Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is alternative to Interac E-Transfers that allow you to quickly and simply transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you need to prepare for tax season and file your tax return online free. It’s described to be easy, accurate and always free tax return filing.
Wealthsimple Spend – A hybrid pre paid visa and savings account that lets one to earn 1% cashback on your purchases, as well as get a competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform which offers a ton of courses on saving, investments, crypto, real estate and more.
Every one of the mentioned features, along with Wealthsimple Trade may be accessed on the mobile app and at their site with your Wealthsimple login.
How Should I Start With Wealthsimple Trade?
Click here to register for a new Wealthsimple Trade account. As an exclusive signup bonus to our audience you’ll get the cash value of a share worth up to $4,500 Canadian when you deposit to your account.
So What if I Still Have Additional Questions Related to Available Crypto In Wealthsimple?
If this blog post hasn’t given you the answers to each of your questions, and you’re browsing for further specific information about Is Wealthsimple Good For Beginners, go to the Wealthsimple website for answers to all your questions.