What is Wealthsimple?
Wealthsimple is a simple to use Canadian online Financial, stocks plus crypto trading platform that distinguishes itself from its competitors by charging no fees.
A leading Canadian fintech company launched in the Fall of 2014 originally as a robo-advisor automated trading app called Wealthsimple Invest, it has changed substantially over the last 8 years to feature Wealthsimple Trade, a no fees discount brokerage app.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade lets investors trade both single stocks and also ETFs without paying fees. The exception is when you’re trading securities which are displayed in US Dollars. In which case, they charge a currency conversion fee when buying and selling. But, behind us are the days of paying Upwards of $7 for each trade with discount brokerages as was common just a few years past.
Exactly How Much Cash do I Need in Order to Begin Investing With Wealthsimple Trade?
Wealthsimple is awesome such that they will allow Canadians to make a minimum deposit of only $1. The majority of traditional banks and discount brokerages have quite large initial deposit amounts of $1000-5k. This makes it impossible for the normal new investor to start. With Wealthsimple Trade, you don’t have to be wealthy to begin trading stocks and ETFs.
So Does Wealthsimple Trade Offer RRSP Accounts?
Of course. Wealthsimple Trade has available both registered and non-CRA-registered accounts. One may select between both RRSP and TFSA account types in the setup phase.
But Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade offers a convenient mobile app that is available on both Apple and also Google Play. The app makes the enrollment phase and trading of stocks and ETFs very simple.
So Is Wealthsimple Trade Legit?
Of course. Wealthsimple Trade is safe. Wealthsimple boasts in excess of 15 billion CAD of Assets Under Management . they’ve been doing business for more than 7 years and now employs roughly 600 people. The majority shareholder is the large publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the very first no-fee digital brokerage to operate in Canada.
How Can I Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it easy to deposit to a new account. Just connect a chequing or savings account to your Trade account, and then fund your account in simply a few steps. Deposits from financial institutions to Wealthsimple usually take just a couple of days. Funds can just as easily be moved to a chequing or savings accounts by using the exact same steps.
What Other Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is equivalent to Interac E-Transfers that allows you to quickly and efficiently send cash to friends and family in Canada.
Wealthsimple Tax – Everything you require to prepare for this tax season and file your taxes online for free. It’s advertised as easy, accurate and always free tax filing.
Wealthsimple Spend – A hybrid pre paid debit card and savings account which lets one to earn 1% cashback on your everyday spending, and also earn a competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform that includes a bunch of different online courses on different topics such as saving, investing, crypto, real estate and much more.
Each of the listed features, along with Wealthsimple Trade can be accessed within the app or from the site with your Wealthsimple login.
So How Can I Get Started With Wealthsimple Trade?
Click here to register for your Wealthsimple Trade account. As a special signup bonus to our readers you’ll receive the cash value of a Canadian stock worth up to $4,500 CAD once you make an initial deposit to your account.
But What if I Still Have Additional Questions About Is Wealthsimple Trade Safe?
If this article didn’t given you the answers to each of your questions, and you’re still searching for further specific facts relating to Is Wealthsimple Trade Safe, check out the Wealthsimple site for answers to each your questions.