What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian web based investing, stock plus crypto trading app that sets itself apart from other apps by charging no fees.
A online financial services business launched in Autumn of 2014 exclusively as a robo-advisor algorithmic automated trading platform named Wealthsimple Invest, it has grown significantly over the previous 8 years to feature Wealthsimple Trade, a no fees discount brokerage app.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade lets Canadian investors trade single stocks and also ETFs without needing to pay fees. The exception to this is when you’re trading stocks and ETFs that are displayed in US Dollars. In that case, they do charge a small currency conversion fee both when buying and selling. However, behind us are the days of paying $7-12 for each trade with discount brokerages as was the norm only a couple years ago.
How Much in Funds Will I Need in Order to Start Investing on Wealthsimple Trade?
Wealthsimple is unique such that they will allow investors to make a minimum deposit of just $1. The majority of traditional banks and discount brokerages have quite large minimum deposit amounts of 1k-5K. This makes it impossible for the normal new investor to get started. With Wealthsimple Trade, you won’t have to be wealthy to start trading stocks and ETFs.
But Does Wealthsimple Trade Have RRSP Accounts?
Of course. Wealthsimple Trade offers both CRA registered and non-registered account types. One are able to choose both RRSP and TFSA accounts in the setup process.
Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade has a easy to use mobile app offered to download on both Apple and also Android. The mobile app makes the signup steps and also trading of stocks and ETFs truly simple.
Is Wealthsimple Trade Trustworthy?
. Wealthsimple Trade is legit. Wealthsimple boasts more than 15 billion Canadian in Assets Under Management . they’ve been operating for more than 7 years and also at this time employs about 600 people. The main owner is the large public Canadian corporation Power Corp of Canada. Weapthsimple Trade was the first no-fee digital discount brokerage operating in Canada.
How Do I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it incredibly straight forward to deposit to your account. Simply connect to a chequing or savings account to your Trade account, then fund your account in only a couple of steps. Deposits from banks to Wealthsimple normally take just a few days. Funds can the same way can be withdrawn your chequing or savings accounts using the exact same process.
What Other Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An alternative to Interac e-Transfers that allow you to quickly and simply send cash to friends and family in Canada.
Wealthsimple Tax – Everything you need to prepare for this tax year and submit your tax return online for free. It’s described to be simple, accurate and always free tax filing.
Wealthsimple Spend – A combination pre paid debit card and savings account that lets one to earn 1% cashback on all your purchases, as well as earn a very competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance platform that offers a bunch of courses on different topics such as saving, investing, crypto, mortgages and more.
Every one of the mentioned features, along with Wealthsimple Trade can be found inside the mobile app or on the site with one login.
So How Should I Get Started Using Wealthsimple Trade?
Click here to register for a Wealthsimple Trade account. For an exclusive signup bonus offer to our audience you’ll get the equivalent cash value of a stock valued at up to $4,500 Canadian when you fund your account.
What if I Still Have Questions About Etf Wealthsimple?
If this blog post didn’t given you the answers to each of your questions, and you’re still looking for further answers about Etf Wealthsimple, visit the Wealthsimple site for answers to every one of your questions.