What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian web based investing, securities plus crypto trading platform that differentiates itself from the competition by charging no fees.
A leading Canadian fintech business launched in Fall 2014 originally as a robo-advisor algorithmic automated trading app called Wealthsimple Invest, it has evolved considerably over the previous eight years to also feature Wealthsimple Trade, a zero fee discount brokerage app.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade lets consumers trade individual stocks and also ETFs without needing to pay commissions. The exception is when you’re trading stocks and ETFs which are denominated in USD. In this case, they do charge a small currency conversion fee when buying and selling. But, past us are the times of paying more than $7 per trade with discount brokerages as was the norm a couple years ago.
How Much in Funds do I Need to Have to Start Investing With Wealthsimple Trade?
Wealthsimple is unique such that they allow investors to make a minimum deposit of just $1. The majority of alternative banks and brokerages have quite large minimum deposit amounts of $1,000-$5000. This makes it impossible for the typical investor to start. With Wealthsimple Trade, you won’t have to be wealthy to start trading stocks and ETFs.
So Does Wealthsimple Trade Have RRSP Accounts?
They do. Wealthsimple Trade has both registered and non-CRA-registered account types. One may choose both RRSP and TFSA accounts in the setup phase.
But Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade offers a convenient mobile app available on Apple and also Android. The app makes the signup phase and also the trading of stocks and ETFs super easy.
Is Wealthsimple Trade Safe?
Definitely. Wealthsimple Trade is trustworthy. Wealthsimple has more than 15 billion Canadian in Assets Under Management . They have been in business for more than 7 years and also now employs roughly 600 people. The primary shareholder is the admired publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the first no-fee online discount brokerage to operate in Canada.
How Can I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it quite simple to add money to an account. Simply connect a chequing or savings account to your Trade account, and then fund your account in only a couple of clicks. Deposits from banks to Wealthsimple typically take just a few days. Funds can also be withdrawn your chequing or savings accounts through the exact same process.
Which Other Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is equivalent to E-transfers that allow one to quickly and simply transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you need to get ready for this tax year and file your tax return online for free. It’s described as simple, accurate and always totally free tax filing.
Wealthsimple Spend – A combination prepaid visa and savings product which allows you to get 1% cashback on all your everyday purchases, and also earn a very competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform that includes a variety of courses on topics like saving, investments, crypto, home buying and more.
Each of the mentioned features, along with Wealthsimple Trade may be found inside the app or at the website with one login.
But How Can I Begin Using Wealthsimple Trade?
Click here to signup for a Wealthsimple Trade account. As an exclusive signup bonus to our audience you’ll get the equivalent cash value of a random Canadian stock worth up to $4,500 CAD as soon as you make an initial deposit to your account.
What if I Still Have Questions Concerning Delete Wealthsimple Account?
If this blog post didn’t given you the answers to each of your questions, and you’re still browsing for additional information relating to Delete Wealthsimple Account, go to the Wealthsimple site for answers to all your questions.