What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian web based investing, stock and crypto trading app that distinguishes itself from similar apps by charging absolutely no fees.
A leading Canadian online financial services business launched in the Fall 2014 exclusively as a robo advisor trading app named Wealthsimple Invest, it has changed substantially over the last eight years to feature Wealthsimple Trade, a zero fees discount brokerage service.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade lets Canadian consumers trade both stand alone stocks and ETFs without paying any fees. The exception is when trading stocks that are displayed in US Dollars. In which case, they do charge a currency conversion fee both when buying and selling. But, gone are the days of paying $7-12 per trade with discount brokerages as was normal only a couple years past.
Exactly How Much Money Will I Need to Have in Order to Begin Investing With Wealthsimple Trade?
Wealthsimple is special such that they allow new customers to make a minimum deposit of only $1. The majority of traditional banks and discount brokerages have sizeable initial deposit amounts of 1k-$5,000. This makes it difficult for the typical investor to start investing. With Wealthsimple Trade, you won’t have to be wealthy to begin trading stocks and ETFs.
But Does Wealthsimple Trade Offer RRSP Accounts?
Of course. Wealthsimple Trade offers both CRA registered and non-CRA-registered accounts. One 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 that is offered to download on both Apple and also Android. The app makes the registration phase and also the trading of stocks and ETFs incredibly simple.
So Is Wealthsimple Trade Safe?
Of course. Wealthsimple Trade is legit. Wealthsimple boasts in excess of 15 billion CAD of Assets Under Management (AUM). they’ve been in business for more than 7 years and also at this time employs roughly 600 people. The primary shareholder is the public Canadian entity Power Corp of Canada. Weapthsimple Trade was the first no-fees digital brokerage operating in Canada.
How Can I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it very straight forward to add funds to your account. Simply connect to a chequing or savings account with your Trade account, and add funds to your account in just a few steps. Deposits from your bank to Wealthsimple usually take just a few days. Funds can also be moved to a chequing or savings accounts by the exact same method.
What Other Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is alternative to e-Transfers which allow one to quickly and efficiently send cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to get ready for this tax season and submit your tax return online for free. It’s pitched to be simple, accurate and always totally free income tax filing.
Wealthsimple Spend – A hybrid pre paid visa and savings product that allows one to recieve 1% cashback on your everyday spending, as well as earn a very competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform that offers a ton of different online courses on different topics such as saving, investments, crypto, mortgages and much more.
Each of the above products, including Wealthsimple Trade can be accessed within the mobile app and on their website with your Wealthsimple login.
How Should I Start With Wealthsimple Trade?
Click here to create a new Wealthsimple Trade account. As a special signup bonus to our audience you’ll receive the equivalent cash value of a stock worth $25 up to $4,500 CAD when you make an initial deposit to your account.
But What if I Still Have Additional Questions About 0.5 Management Fee Wealthsimple?
If this review hasn’t answered all of your questions, and you’re searching for additional info about 0.5 Management Fee Wealthsimple, go to the Wealthsimple site to get answers to each your questions.