What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian digital Financial, securities plus crypto trading app that distinguishes itself from the competition by charging absolutely no fees.
A Toronto, Ontario based online financial services company founded in the Fall of 2014 exclusively as a robo-advisor algorithmic trading app called Wealthsimple Invest, it has grown considerably over the last 8 years to feature Wealthsimple Trade, a no fee discount brokerage platform.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade allows Canadian investors trade single stocks and also ETFs without needing to pay fees. The exception is when you’re trading stocks and ETFs that are listed in US Dollars. In that case, they will charge a nominal currency conversion fee both when buying and selling. However, past us are the days of paying $7-12 for each trade with digital discount brokerages as was expected only a few years past.
Exactly How Much in Funds do I Need to Have in Order to Start Investing With Wealthsimple Trade?
Wealthsimple is special in that they allow investors to make a minimum deposit of only $1. Many alternative banks and brokerages have large initial deposit amounts of $1,000-$5,000. This makes it impossible for the normal investor to start. With Wealthsimple Trade, you won’t have to be wealthy to begin trading stocks and ETFs.
But Does Wealthsimple Trade Offer RRSP Accounts?
They do. Wealthsimple Trade has available both CRA registered and non-registered account types. One are free to select both RRSP and TFSA accounts in the setup process.
Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade has a well designed mobile app offered to download on iOS and Google Play. The mobile app makes the enrollment steps and trading of stocks and ETFs easy.
So Is Wealthsimple Trade Trustworthy?
Most definitely. Wealthsimple Trade is safe. Wealthsimple boasts over 15 billion Canadian in Assets Under Management . This company has been operating for more than 7 years and also employs more than 600 people. The primary owner is the publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade is the very first no-fee online discount brokerage operating in Canada.
But How Do I Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it simple to add money to a new account. Simply connect the app to a chequing or savings account with your Trade account, and fund your account in just a couple of clicks. Deposits from your bank to Wealthsimple normally take a few days. Funds can the same way can be moved back to your chequing or savings accounts by using the exact same method.
Which Additional Benefits and Products Are Available?
Wealthsimple Cash – An alternative to 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 this tax year and file your taxes online for free. It’s described as simple, accurate and always totally free income tax filing.
Wealthsimple Spend – A combination prepaid visa and savings account which lets one to earn 1% cashback on all your purchases, and also get a very competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform which offers a bunch of different courses on saving, investments, crypto, mortgages and more.
All of the mentioned features, along with Wealthsimple Trade may be accessed within the app and from the website with your Wealthsimple login.
How Should I Start With Wealthsimple Trade?
Click here to create a new Wealthsimple Trade account. As a special signup bonus offer to our audience you will get the cash value of a random Canadian stock worth up to $4,500 Canadian when you deposit to your account.
What if I Still Have Questions About How To Transfer Rrsp To Wealthsimple?
If this review still hasn’t given you the answers to all of your questions, and you’re still looking for more specific facts relating to How To Transfer Rrsp To Wealthsimple, check out the Wealthsimple site for answers to every one of your questions.