What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian web based Financial, securities plus crypto trading app that distinguishes itself from its competitors by charging absolutely no fees.
A leading Canadian online financial services company launched in the Fall twenty fourteen exclusively as a robo-advisor trading platform named Wealthsimple Invest, it has changed substantially over the previous 8 years to also feature Wealthsimple Trade, a no fee discount brokerage platform.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade lets Canadian consumers trade individual stocks and also ETFs without having to pay fees. The exception is when trading securities that are listed in US Dollars. In which case, they charge a currency conversion fee when buying and selling. But, past us are the days of paying more than $7 for each trade with online discount brokerages as was the case only a few years ago.
How Much Money do I Need to Have in Order to Get Started With Wealthsimple Trade?
Wealthsimple is unique such that they allow Canadians to make a minimum deposit of only $1. Many alternative banks and brokerages have quite large minimum deposit amounts of 1K-5k. This makes it difficult for the every day investor to get started. With Wealthsimple Trade, you don’t have to be wealthy to get started with trading stocks and ETFs.
But Does Wealthsimple Trade Offer RRSP Accounts?
Of course. Wealthsimple Trade offers both CRA registered and non-CRA-registered account types. You may choose both RRSP and TFSA accounts during the setup wizard.
But Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade has a easy to use mobile app available to download on both Apple and also Google Play. The mobile app makes the enrollment steps and the trading of stocks and ETFs truly easy.
But Is Wealthsimple Trade Trustworthy?
Of course. Wealthsimple Trade is secure. Wealthsimple boasts in excess of 15 billion CAD in Assets Under Management (AUM). They have been in business for more than 7 years and also at this time employs roughly 600 folks. The primary shareholder is the large public Canadian corporation Power Corp of Canada. Weapthsimple Trade was the first no-fees online brokerage to operate in Canada.
So How Does One Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it simple to add money to an account. Simply connect to a chequing or savings account with your Trade account, and add money to your account in just a couple of clicks. Deposits from your bank to Wealthsimple usually take just a few days. Funds can just as easily be moved back to your chequing or savings accounts by using the same process.
What Other Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An equivalent to Interac E-transfers that allows you to quickly and efficiently transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you need to prepare for tax season and file your taxes online for free. It’s described as simple, accurate and always totally free income tax filing.
Wealthsimple Spend – A hybrid prepaid visa and savings account which allows one to earn 1% cashback on all your everyday purchases, and also earn a very competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform which includes a bunch of online courses on saving, investments, crypto, real estate and much more.
Each of the listed features, along with Wealthsimple Trade may be found inside the mobile app and on the site with a single login.
How Can I Start With Wealthsimple Trade?
Click here to create a new Wealthsimple Trade account. For an exclusive signup bonus to our audience you will get the cash value of a Canadian stock valued at $25 up to $4,500 Canadian when you add funds to your account.
What if I Still Have Questions About Wealthsimple Email Format?
If this blog post still hasn’t given you the answers to each of your questions, and you’re still searching for additional answers about Wealthsimple Performance Review, visit the Wealthsimple site to find answers to every one of your questions.