What is Wealthsimple?
Wealthsimple is an easy to use Canadian web based investing, stocks plus crypto trading web app that distinguishes itself from the competition by charging no fees.
A fintech company founded in the Autumn of twenty fourteen originally as a robo-advisor algorithmic automated trading platform named Wealthsimple Invest, it has evolved substantially over the last eight years to also feature Wealthsimple Trade, a no fee discount brokerage service.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade allows investors to trade stand alone stocks and also ETFs without paying fees. The exception is when trading stocks which are denominated in US Dollars. In which case, they do charge a currency conversion fee when buying and selling. However, past us are the times of paying more than $7 for each trade with discount brokerages as was common only a couple years ago.
How Much in Funds do I Need to Have to Start Investing on Wealthsimple Trade?
Wealthsimple is cool such that they will allow Canadians to make a minimum deposit of only $1. Most traditional banks and brokerages have quite large min deposit amounts of $1,000-5K. This makes it impossible for the everyday new investor to start. With Wealthsimple Trade, you don’t need to be wealthy to get started with trading stocks and ETFs.
Does Wealthsimple Trade Have RRSP Accounts?
They do. Wealthsimple Trade offers both registered and non-CRA-registered account types. One can choose between both RRSP and TFSA accounts during the setup phase.
But Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade has a modern mobile app that is available on iOS and also Android. The app makes the signup steps and the trading of stocks and ETFs very painless.
But Is Wealthsimple Trade Trustworthy?
Yes. Wealthsimple Trade is safe. Wealthsimple boasts over 15 billion CAD of Assets Under Management . These folks have been doing business for more than 7 years and also employs over 600 people. The majority shareholder is the respected public Canadian corporation Power Corp of Canada. Weapthsimple Trade was the first no-fee digital brokerage to operate in Canada.
How Can I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it incredibly easy to add money to your account. Simply connect to a chequing or savings account to your Trade account, and then add funds to your account in only a few steps. Deposits from financial institutions to Wealthsimple normally take only a few days. Funds can also be withdrawn a chequing or savings account using the same method.
Which Additional Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An alternative to Interac E-transfers which allow one to quickly and efficiently send money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to prepare for tax year and submit your tax return online free. It’s advertised to be simple, accurate and always totally free income tax filing.
Wealthsimple Spend – A combination pre paid debit card and savings account that lets you to earn 1% cashback on your everyday purchases, as well as earn a very competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform which offers a ton of different online courses on topics like saving, investments, crypto, mortgages and more.
Every one of the above features, along with Wealthsimple Trade may be found in the mobile app or on the website with a single login.
How Can I Begin With Wealthsimple Trade?
Click here to create your Wealthsimple Trade account. As an exclusive signup bonus offer for our audience you will get the cash value of a random Canadian stock worth $25 up to $4,500 CAD as soon as you fund your account.
What if I Still Have Additional Questions Related to 100k In Wealthsimple?
If this blog post didn’t given you the answers to all of your questions, and you’re looking for further specific info relating to 100k In Wealthsimple, go to the Wealthsimple website to get answers to all your questions.