What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian web based investing, stocks plus crypto trading web app that distinguishes itself from the competition by charging no fees.
A Toronto, Ontario based fintech business launched in the Autumn of 2014 originally as a robo-advisor automated trading platform called Wealthsimple Invest, it has changed considerably over the past 8 years to also feature Wealthsimple Trade, a no fees discount brokerage app.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade lets Canadian investors trade both individual stocks and also ETFs without paying commissions. The exception is when trading ETFs and stocks which are denominated in USD currency. In this case, they charge a currency conversion fee both when buying and selling. But, past us are the days of paying Upwards of $7 per each trade with digital discount brokerages as was the norm a few years past.
How Much Cash do I Need to Start Investing With Wealthsimple Trade?
Wealthsimple is cool in that they will allow new customers to make a minimum deposit of only $1. Most alternative banks and discount brokerages have large min deposit amounts of $1000-5k. This makes it hard for the typical investor to start. With Wealthsimple Trade, one doesn’t have to already be wealthy to get started with trading stocks and ETFs.
So Does Wealthsimple Trade Have RRSP Accounts?
Of course. Wealthsimple Trade offers both registered and non-registered accounts. One can select both RRSP and TFSA account types during the setup process.
So Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade offers a modern mobile app available on both iOS and also Google Play. The smartphone app makes the enrollment process and also trading of stocks and ETFs very simple.
Is Wealthsimple Trade Secure?
Definitely. Wealthsimple Trade is secure. Wealthsimple reports in excess of 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 main owner is the respected public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the very first no-fees online discount brokerage to operate in Canada.
So How Does One Fund a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it quite simple to fund an account. Just connect to a chequing or savings account to your Trade account, then add funds to your account in only a few clicks. Deposits from financial institutions to Wealthsimple usually take just a few days. Funds can just as easily be moved to a chequing or savings accounts with the exact same steps.
Which Additional Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – An alternative to Interac e-Transfers which allows one to quickly and simply send money to friends and family in Canada.
Wealthsimple Tax – Everything you require to get ready for this tax season and submit your tax return online for free. It’s described to be easy, accurate and always totally free tax filing.
Wealthsimple Spend – A hybrid prepaid visa and savings product which lets one to recieve 1% cashback on your spending, as well as earn a competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform that includes a variety of online courses on different topics such as saving, investing, crypto, mortgages and much more.
All of the listed features, including Wealthsimple Trade may be found on the app or from the website with one login.
But How do I Begin Using Wealthsimple Trade?
Click here to register for your Wealthsimple Trade account. As an exclusive signup bonus to our audience you’ll get the equivalent cash value of a share worth up to $4,500 CAD when you make an initial deposit to your account.
What if I Still Have Questions Concerning Email Wealthsimple?
If this blog post didn’t given you the answers to each of your questions, and you’re still searching for additional info about Email Wealthsimple, go to the Wealthsimple site to find answers to all your questions.