What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian web based investing, stocks plus crypto trading web app that differentiates itself from other apps by charging no fees.
A online financial services business launched in Fall twenty fourteen originally as a robo advisor algorithmic trading platform named Wealthsimple Invest, it has changed substantially over the last 8 years to also feature Wealthsimple Trade, a zero fee discount brokerage app.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade allows Canadian consumers to trade both individual stocks and ETFs without needing to pay any fees. The exception to this is when trading stocks and ETFs that are denominated in USD currency. In this case, they do charge a currency conversion fee both when buying and selling. But, past us are the days of paying Upwards of $7 for each trade with discount brokerages as was the norm just a few years ago.
Exactly How Much Cash do I Need to Have in Order to Start on Wealthsimple Trade?
Wealthsimple is cool such that they allow new customers to make a minimum deposit of just $1. Many alternative banks and brokerages have sizeable min deposit amounts of $1,000-5k. This makes it hard for the every day new investor to start. With Wealthsimple Trade, one doesn’t need to already be wealthy to begin trading stocks and ETFs.
Does Wealthsimple Trade Offer RRSP Accounts?
They do. Wealthsimple Trade has available registered and non-registered accounts. One may choose both RRSP and TFSA accounts in the setup wizard.
Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade has a easy to use mobile app available to download on iOS and Google Play. The smartphone app makes the signup steps and trading of stocks and ETFs very a breeze.
Is Wealthsimple Trade Secure?
Of course. Wealthsimple Trade is trustworthy. Wealthsimple reports over 15 billion CAD in Assets Under Management (AUM). These folks have been operating for more than 7 years and also at this time employs more than 600 people. The primary owner is the publicly traded Canadian entity Power Corp of Canada. Weapthsimple Trade is the very first no-fees digital brokerage to operate in Canada.
So How Does One Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it incredibly straight forward to add funds to an account. Just connect a chequing or savings account to your Trade account, then add funds to your account in simply a couple of clicks. Deposits from financial institutions to Wealthsimple normally take only a few days. Funds can also be withdrawn your chequing or savings account using the exact same process.
Which Additional Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is equivalent to E-transfers that allow you to quickly and efficiently transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you require to get ready for tax season and file your taxes online free. It’s advertised to be easy, accurate and always totally free income tax filing.
Wealthsimple Spend – A combination prepaid visa and savings product which allows one to get 1% cashback on your spending, as well as earn a competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform which offers a bunch of courses on saving, investments, crypto, real estate and more.
Each of the above features, including Wealthsimple Trade may be found within the mobile app and on their website with a single login.
But How do I Get Started Using Wealthsimple Trade?
Click here to register for a new Wealthsimple Trade account. As a special registration bonus offer for our audience you will get the equivalent cash value of a random stock worth up to $4,500 Canadian as soon as you make an initial deposit to your account.
But What if I Still Have Questions About Cryptocurrency On Wealthsimple?
If this article still hasn’t answered all of your questions, and you’re looking for further specific facts about Cryptocurrency On Wealthsimple, check out the Wealthsimple website to get answers to all your questions.