What is Wealthsimple?
Wealthsimple is an easy to use Canadian digital Financial, securities plus crypto trading app that sets itself apart from its competitors by charging absolutely no fees.
A fintech company founded in the Fall twenty fourteen originally as a robo-advisor trading app called Wealthsimple Invest, it has changed considerably over the last 8 years to feature Wealthsimple Trade, a no fee discount brokerage app.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade lets investors to trade individual stocks and also ETFs without having to pay any commissions. The exception is when trading stocks that are denominated in USD. In this case, they charge a nominal currency conversion fee both when buying and selling. However, past us are the times of having to pay $7-12 per trade with online discount brokerages as was the case only a few years past.
Exactly How Much Money Will I Need in Order to Start Investing on Wealthsimple Trade?
Wealthsimple is special in that they will allow investors to make a minimum deposit of just $1. The majority of traditional banks and brokerages have sizeable min deposit amounts of $1,000-5k. This makes it tough for the typical investor to start investing. With Wealthsimple Trade, you won’t need to already be wealthy to get started with trading stocks and ETFs.
So Does Wealthsimple Trade Have RRSP Accounts?
It does. Wealthsimple Trade has registered and non-CRA-registered accounts. You can select both RRSP and TFSA accounts during the setup process.
Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade has a convenient mobile app that is offered to download on iOS and Android. The smartphone app makes the enrollment steps and trading of stocks and ETFs truly simple.
But Is Wealthsimple Trade Legit?
Most definitely. Wealthsimple Trade is legit. Wealthsimple reports more than 15 billion CAD of Assets Under Management . These folks have been in business for more than 7 years and now employs over 600 folks. The primary shareholder is the large publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the very first no-fee online discount brokerage to operate in Canada.
But How Does One Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it incredibly simple to add money to your account. Just connect a chequing or savings account with your Trade account, and then add money to your account in just a couple of clicks. Deposits from financial institutions to Wealthsimple usually take a few days. Funds can just as easily be moved back to your chequing or savings accounts through the same process.
Which Other Benefits and Products Are Available?
Wealthsimple Cash – An alternative to E-transfers that allows anyone to quickly and easily send money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to get ready for this tax year and submit your taxes online for free. It’s described as easy, accurate and always free income tax filing.
Wealthsimple Spend – A hybrid pre paid visa and savings account which allows one to get 1% cashback on all your everyday spending, and also get a very competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform that offers a bunch of different courses on different topics such as saving, investments, crypto, real estate and more.
All of the above products, including Wealthsimple Trade can be accessed within the app and from the website with your Wealthsimple login.
How Can I Begin With Wealthsimple Trade?
Click here to create your Wealthsimple Trade account. As a special signup bonus offer to our readers you will receive the cash value of a random stock valued at $25 up to $4,500 CAD once you make an initial deposit to your account.
But What if I Still Have Questions Concerning How To Delete Wealthsimple Account?
If this review hasn’t given you the answers to all of your questions, and you’re browsing for more specific information relating to How To Delete Wealthsimple Account, check out the Wealthsimple website for answers to all your questions.