What is Wealthsimple?
Wealthsimple is a simple to use Canadian web based Financial, stocks plus crypto trading app that sets itself apart from similar apps by charging absolutely no fees.
A leading Canadian fintech company launched in the Fall twenty fourteen exclusively as a robo advisor automated trading platform called Wealthsimple Invest, it has improved considerably over the previous 8 years to feature Wealthsimple Trade, a zero fees discount brokerage platform.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade allows Canadian consumers to trade both single stocks and also ETFs without paying any fees. The exception is when you’re trading stocks that are denominated in USD currency. In that case, they do charge a currency conversion fee when buying and selling. However, gone are the times of having to pay $7-12 for each trade with discount brokerages as was common just a few years past.
How Much in Funds Will I Need to Start With Wealthsimple Trade?
Wealthsimple is unique such that they allow Canadians to make a minimum deposit of only $1. Most traditional banks and discount brokerages have large minimum deposit amounts of $1,000-$5000. This makes it tough for the normal new investor to get started. With Wealthsimple Trade, you won’t need to be wealthy to begin trading stocks and ETFs.
So Does Wealthsimple Trade Have RRSP Accounts?
They do. Wealthsimple Trade offers registered and non-CRA-registered accounts. You can choose both RRSP and TFSA accounts in the setup wizard.
But Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade has a easy to use mobile app offered on both IOS and Android. The mobile app makes the registration process and the trading of stocks and ETFs super simple.
So Is Wealthsimple Trade Trustworthy?
. Wealthsimple Trade is secure. Wealthsimple reports over 15 billion Canadian in Assets Under Management (AUM). This company has been in business for more than 7 years and also right now employs more than 600 people. The majority shareholder is the respected publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade is the very first no-fees online brokerage operating in Canada.
But How Do I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it quite easy to add funds to your new account. Simply connect a chequing or savings account to your Trade account, and fund your account in only a few clicks. Deposits from banks to Wealthsimple usually take just a couple of days. Funds can also be moved to your chequing or savings account by using the same method.
Which Additional Features and Products Are Available?
Wealthsimple Cash – An equivalent to e-Transfers that allows one to quickly and efficiently transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you need to get ready for this tax season and file your tax return online free. It’s advertised to be simple, accurate and always free tax filing.
Wealthsimple Spend – A combination pre paid visa and savings product which lets you to earn 1% cashback on all your everyday spending, and also earn a very competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform which includes a variety of different online courses on topics like saving, investing, crypto, mortgages and more.
Each of the listed products, along with Wealthsimple Trade can be accessed inside the mobile app and at the website with a single login.
How do I Start With Wealthsimple Trade?
Click here to setup a Wealthsimple Trade account. As an exclusive signup bonus for our readers you’ll receive the equivalent cash value of a random share worth $25 up to $4,500 CAD as soon as you fund your account.
What if I Still Have Questions Concerning Close Wealthsimple Account?
If this article hasn’t answered each of your questions, and you’re still searching for further information relating to Close Wealthsimple Account, go to the Wealthsimple site for answers to all your questions.