What is Wealthsimple?
Wealthsimple is an easy to use Canadian web based Financial, stocks plus crypto trading web app that sets itself apart from its competitors by charging no fees.
A leading Canadian online financial services company founded in the Fall of twenty fourteen originally as a robo advisor trading app called Wealthsimple Invest, it has changed substantially over the previous eight years to also feature Wealthsimple Trade, a no fee discount brokerage service.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade lets Canadian investors to trade both single stocks and ETFs without paying any fees. The exception to this is when trading ETFs and stocks that are denominated in USD. In which case, they charge a currency conversion fee when buying and selling. But, gone are the times of having to pay Upwards of $7 per each trade with discount brokerages as was the norm a few years past.
Exactly How Much Money do I Need to Have in Order to Get Started on Wealthsimple Trade?
Wealthsimple is unique in that they allow Canadian investors to make a minimum deposit of just $1. The majority of traditional banks and brokerages have sizeable initial deposit amounts of $1,000-5k. This makes it impossible for the typical investor to start investing. With Wealthsimple Trade, you won’t need to be wealthy to start trading stocks and ETFs.
But Does Wealthsimple Trade Offer Registered Accounts?
Of course. Wealthsimple Trade offers both CRA registered and non-CRA-registered accounts. One may select between both RRSP and TFSA account types in the setup process.
But Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade has a convenient mobile app offered to download on both iOS and Android. The smartphone app makes the enrollment phase and trading of stocks and ETFs super painless.
But Is Wealthsimple Trade Safe?
Of course. Wealthsimple Trade is trustworthy. Wealthsimple reports more than 15 billion CAD in Assets Under Management . They have been operating for more than 7 years and also currently employs more than 600 Canadians. The primary shareholder is the respected public Canadian company Power Corp of Canada. Weapthsimple Trade was the very first no-fees digital brokerage to operate in Canada.
How Does One Fund a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it so easy to deposit to a new account. Just connect the app to a chequing or savings account to your Trade account, then add money to your account in just a couple of clicks. Deposits from your bank to Wealthsimple usually take a couple of days. Funds can also be moved back to a chequing or savings accounts with the same method.
What Additional Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An alternative to E-transfers which allows you to quickly and efficiently transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for tax year and submit your tax return online for free. It’s advertised to be simple, accurate and always totally free tax return filing.
Wealthsimple Spend – A hybrid pre paid debit card and savings account that lets one to earn 1% cashback on all your spending, as well as get a competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform which offers a ton of courses on topics like saving, investing, crypto, home buying and much more.
Every one of the mentioned features, along with Wealthsimple Trade may be accessed inside the app or from the website with your Wealthsimple login.
So How do I Start With Wealthsimple Trade?
Click here to setup your Wealthsimple Trade account. As an exclusive registration bonus offer to our readers you will receive the cash value of a random stock valued at up to $4,500 Canadian when you fund your account.
So What if I Still Have Additional Questions Related to Coinbase Vs Wealthsimple?
If this blog post didn’t given you the answers to each of your questions, and you’re looking for further specific info relating to Coinbase Vs Wealthsimple, go to the Wealthsimple site for answers to every one of your questions.