What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian web based Financial, stocks and crypto trading platform that differentiates itself from similar apps by charging absolutely no fees.
A fintech business launched in Fall twenty fourteen exclusively as a robo-advisor automated trading app named Wealthsimple Invest, it has improved significantly over the last 8 years to feature Wealthsimple Trade, a zero fee discount brokerage service.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade allows Canadian consumers trade stand alone stocks and also ETFs without needing to pay fees. The exception is when you’re trading stocks and ETFs which are denominated in US Dollars. In which case, they do charge a nominal currency conversion fee when buying and selling. But, past us are the times of having to pay Upwards of $7 per trade with discount brokerages as was the norm just a couple years past.
Exactly How Much in Funds do I Need to Have to Get Started With Wealthsimple Trade?
Wealthsimple is unique such that they allow Canadian investors to make a minimum deposit of just $1. Most traditional banks and brokerages have large min deposit amounts of $1000-$5000. This makes it impossible for the every day investor to start. With Wealthsimple Trade, you don’t have to be wealthy to begin trading stocks and ETFs.
But Does Wealthsimple Trade Offer RRSP Accounts?
Yes. Wealthsimple Trade has CRA registered and non-registered accounts. You can select both RRSP and TFSA accounts during the setup phase.
So Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade offers a modern mobile app offered on both IOS and also Android. The smartphone app makes the signup process and the trading of stocks and ETFs super simple.
But Is Wealthsimple Trade Secure?
Definitely. Wealthsimple Trade is legit. Wealthsimple reports in excess of 15 billion CAD in Assets Under Management . they’ve been in business for more than 7 years and at this time employs more than 600 people. The primary owner is the respected public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the very first no-fees online brokerage operating in Canada.
But How Do I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it very straight forward to add funds to your new account. Simply connect a chequing or savings account to your Trade account, and fund your account in only a few clicks. Deposits from financial institutions to Wealthsimple usually take just a couple of days. Funds can just as easily be withdrawn a chequing or savings accounts by the exact same process.
Which Additional Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An alternative to Interac E-transfers that allow one to quickly and easily send money to friends and family in Canada.
Wealthsimple Tax – Everything you require to get ready for tax year and submit your tax return online free. It’s advertised to be easy, accurate and always totally free tax filing.
Wealthsimple Spend – A combination pre paid debit card and savings account which lets you to recieve 1% cashback on all your purchases, and also get a very competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform which offers a variety of different courses on topics like saving, investments, crypto, mortgages and more.
Each of the listed products, including Wealthsimple Trade may be accessed within the mobile app or from their website with your Wealthsimple login.
So How do I Get Started With Wealthsimple Trade?
Click here to create your Wealthsimple Trade account. For a special signup bonus offer to our audience you’ll receive the cash value of a random stock worth $25 up to $4,500 CAD as soon as you add funds to your account.
But What if I Still Have Additional Questions Related to Gic Wealthsimple?
If this blog post still hasn’t given you the answers to each of your questions, and you’re still looking for further info relating to Gic Wealthsimple, go to the Wealthsimple website to find answers to each your questions.