What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian digital investing, stocks and crypto trading app that sets itself apart from the competition by charging absolutely no fees.
A Toronto, Ontario based online financial services business founded in the Autumn twenty fourteen exclusively as a robo-advisor algorithmic trading platform named Wealthsimple Invest, it has grown significantly over the past eight years to also include Wealthsimple Trade, a no fee discount brokerage app.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade lets investors to trade both individual stocks and also ETFs without needing to pay commissions. The exception is when trading stocks and ETFs that are denominated in US Dollars. In that case, they charge a currency conversion fee when buying and selling. But, gone are the times of paying more than $7 for each trade with discount brokerages as was the case just a couple years past.
How Much Money Will I Need to Have to Begin Investing With Wealthsimple Trade?
Wealthsimple is cool such that they will allow new customers to make a minimum deposit of only $1. Most traditional banks and brokerages have quite large initial deposit amounts of $1000-5K. This makes it hard for the every day new investor to start. With Wealthsimple Trade, one doesn’t need to be wealthy to get started with trading stocks and ETFs.
So Does Wealthsimple Trade Have RRSP Accounts?
Of course. Wealthsimple Trade has available registered and non-CRA-registered accounts. One are free to select between both RRSP and TFSA accounts during the setup phase.
But Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade has a convenient mobile app that is available to download on both IOS and also Android. The mobile app makes the registration steps and the trading of stocks and ETFs super a breeze.
So Is Wealthsimple Trade Safe?
Of course. Wealthsimple Trade is safe. Wealthsimple has over 15 billion Canadian of Assets Under Management . This company has been operating for more than 7 years and employs more than 600 folks. The majority shareholder is the admired public Canadian entity Power Corp of Canada. Weapthsimple Trade was the very first no-fees online brokerage operating in Canada.
But How Can I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it incredibly easy to fund an account. Just connect the app to a chequing or savings account to your Trade account, then fund your account in just a few clicks. Deposits from financial institutions to Wealthsimple typically take a few days. Funds can the same way can be moved back to your chequing or savings account by using the exact same process.
What Other Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is equivalent to Interac e-transfers which allow you to quickly and efficiently send cash to friends and family in Canada.
Wealthsimple Tax – Everything you need to get ready for this tax season and submit your taxes online free. It’s pitched to be easy, accurate and always totally free tax return filing.
Wealthsimple Spend – A hybrid pre paid visa and savings product that allows one to recieve 1% cashback on your spending, and also get a very competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform which includes a bunch of different courses on topics like saving, investing, crypto, home buying and much more.
All of the above products, including Wealthsimple Trade may be accessed inside the app and from the site with your Wealthsimple login.
How Can I Begin With Wealthsimple Trade?
Click here to register for a new Wealthsimple Trade account. As an exclusive signup bonus offer for our readers you will get the cash value of a random share valued at up to $4,500 Canadian once you fund your account.
What if I Still Have Questions Related to James Choi Wealthsimple?
If this blog post still hasn’t given you the answers to all of your questions, and you’re looking for more answers about James Choi Wealthsimple, go to the Wealthsimple website for answers to each your questions.