What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian web based Financial, stock and crypto trading web app that distinguishes itself from other apps by charging absolutely no fees.
A Toronto, Ontario based fintech business founded in Autumn of twenty fourteen exclusively as a robo advisor algorithmic trading app called Wealthsimple Invest, it has improved substantially over the past 8 years to feature Wealthsimple Trade, a no fees discount brokerage service.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade allows consumers to trade both single stocks and also ETFs without having to pay commissions. The exception to this is when you’re trading securities that are denominated in USD. In that case, they will charge a small currency conversion fee when buying and selling. But, behind us are the times of having to pay more than $7 per trade with digital discount brokerages as was common only a couple years past.
How Much Money Will I Need to Start Investing With Wealthsimple Trade?
Wealthsimple is cool such that they will allow Canadian investors to make a minimum deposit of just $1. Many traditional banks and discount brokerages have quite large initial deposit amounts of 1K-5K. This makes it difficult for the everyday investor to get started. With Wealthsimple Trade, you don’t need to be wealthy to start trading stocks and ETFs.
Does Wealthsimple Trade Have RRSP Accounts?
It does. Wealthsimple Trade has both registered and non-registered accounts. One are free to choose between both RRSP and TFSA accounts in the setup process.
Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade has a modern mobile app that is available to download on both IOS and also Android. The app makes the registration steps and also trading of stocks and ETFs very easy.
Is Wealthsimple Trade Secure?
. Wealthsimple Trade is safe. Wealthsimple reports more than 15 billion CAD in Assets Under Management (AUM). they’ve been in business for more than 7 years and also currently employs about 600 Canadians. The majority shareholder is the large public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the first no-fees digital brokerage to operate in Canada.
But How Do I Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it incredibly easy to add money to a new account. Simply connect the app to a chequing or savings account to your Trade account, then fund your account in just a couple of clicks. Deposits from financial institutions to Wealthsimple normally take a few days. Funds can the same way can be moved back to a chequing or savings account by the exact same method.
Which Additional Benefits and Products Are Available?
Wealthsimple Cash – An alternative to Interac E-transfers that allows you to quickly and easily send money to friends and family in Canada.
Wealthsimple Tax – Everything you need to prepare for this tax year and submit your taxes online free. It’s advertised to be easy, accurate and always free tax return filing.
Wealthsimple Spend – A hybrid prepaid debit card and savings product that lets one to earn 1% cashback on all your spending, 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 that offers a ton of online courses on saving, investments, crypto, mortgages and much more.
Every one of the listed features, including Wealthsimple Trade can be accessed on the mobile app or at the website with one login.
But How Should I Begin With Wealthsimple Trade?
Click here to register for your Wealthsimple Trade account. As a special registration bonus offer to our audience you will receive the equivalent cash value of a Canadian stock worth $25 up to $4,500 CAD when you deposit to your account.
So What if I Still Have Questions Related to 55$ Wealthsimple?
If this review hasn’t answered each of your questions, and you’re still searching for more info relating to 55$ Wealthsimple, check out the Wealthsimple site to get answers to each your questions.