What is Wealthsimple?
Wealthsimple is an easy to use Canadian online Financial, securities and crypto trading platform that distinguishes itself from its competitors by charging absolutely no fees.
A Toronto, Ontario based online financial services company launched in Fall of twenty fourteen originally as a robo-advisor algorithmic trading platform called Wealthsimple Invest, it has improved substantially over the past eight years to feature Wealthsimple Trade, a no fees discount brokerage platform.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade allows Canadian investors to trade both stand alone stocks and also ETFs without having to pay any fees. The exception is when trading stocks which are displayed in USD. In which case, they do charge a nominal currency conversion fee when buying and selling. But, gone are the days of paying Upwards of $7 for each trade with discount brokerages as was the case a few years ago.
How Much Cash Will I Need to Have to Start on Wealthsimple Trade?
Wealthsimple is awesome such that they allow new customers to make a minimum deposit of only $1. Many traditional banks and discount brokerages have large initial deposit amounts of 1K-5k. This makes it tough for the every day new investor to start investing. With Wealthsimple Trade, one doesn’t need to already be wealthy to start trading stocks and ETFs.
But Does Wealthsimple Trade Have RRSP Accounts?
They do. Wealthsimple Trade offers registered and non-registered account types. You may select between both RRSP and TFSA account types in the setup process.
But Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade offers a well designed mobile app that is available on both iOS and Android. The mobile app makes the signup phase and also the trading of stocks and ETFs incredibly simple.
So Is Wealthsimple Trade Legit?
Definitely. Wealthsimple Trade is secure. Wealthsimple boasts more than 15 billion CAD of Assets Under Management . These folks have been operating for more than 7 years and also now employs more than 600 folks. The controlling owner is the respected public Canadian corporation Power Corp of Canada. Weapthsimple Trade is the very first no-fee digital brokerage to operate in Canada.
So How Can I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it incredibly easy to deposit to your account. Simply connect a chequing or savings account with your Trade account, and then add money to your account in simply a couple of clicks. Deposits from financial institutions to Wealthsimple normally take only a couple of days. Funds can the same way can be withdrawn a chequing or savings accounts through the exact same method.
Which Additional Benefits and Products Are Available?
Wealthsimple Cash – This is alternative to e-Transfers which allows anyone to quickly and efficiently transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to get ready for this tax season and submit your taxes online free. It’s pitched to be simple, accurate and always totally free income tax filing.
Wealthsimple Spend – A combination prepaid visa and savings account that lets one to recieve 1% cashback on all your everyday spending, and also get a competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform which offers a variety of courses on different topics such as saving, investing, crypto, real estate and much more.
All of the mentioned features, including Wealthsimple Trade may be found inside the mobile app or at the site with one login.
But How do I Start With Wealthsimple Trade?
Click here to register for a Wealthsimple Trade account. For an exclusive registration bonus offer to our audience you’ll get the cash value of a share worth up to $4,500 CAD once you deposit to your account.
So What if I Still Have Questions About Can’t Withdraw From Wealthsimple?
If this review still hasn’t given you the answers to all of your questions, and you’re searching for further information about Can’t Withdraw From Wealthsimple, visit the Wealthsimple website to get answers to every one of your questions.