What is Wealthsimple?
Wealthsimple is a simple to use Canadian digital Financial, stock plus crypto trading app that sets itself apart from similar apps by charging no fees.
A Toronto, Ontario based fintech company launched in the Autumn of twenty fourteen originally as a robo-advisor automated trading app named Wealthsimple Invest, it has grown substantially over the previous eight years to also feature Wealthsimple Trade, a zero fees discount brokerage service.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade allows Canadian consumers to trade stand alone stocks and ETFs without needing to pay fees. The exception is when trading stocks that are denominated in US Dollars. In this case, they do charge a currency conversion fee when buying and selling. However, past us are the times of having to pay $7-12 for each trade with digital discount brokerages as was common a few years ago.
How Much in Funds Will I Need to Have in Order to Get Started With Wealthsimple Trade?
Wealthsimple is awesome in that they allow Canadians to make a minimum deposit of only $1. The majority of alternative banks and discount brokerages have large initial deposit amounts of 1k-5k. This makes it impossible for the normal investor to start investing. With Wealthsimple Trade, you don’t have to already be wealthy to begin trading stocks and ETFs.
So Does Wealthsimple Trade Have RRSP Accounts?
They do. Wealthsimple Trade offers CRA registered and non-CRA-registered accounts. One may select between both RRSP and TFSA accounts during the setup phase.
So Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade offers a modern mobile app available on IOS and Android. The mobile app makes the enrollment process and also trading of stocks and ETFs incredibly easy.
So Is Wealthsimple Trade Trustworthy?
Definitely. Wealthsimple Trade is legit. Wealthsimple reports over 15 billion Canadian of Assets Under Management (AUM). they’ve been expanding for more than 7 years and currently employs about 600 folks. The majority shareholder is the respected public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the first no-fees online discount brokerage to operate in Canada.
How Does One Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it so easy to add funds to an account. Just connect the app to a chequing or savings account with your Trade account, then add money to your account in only a couple of clicks. Deposits from financial institutions to Wealthsimple typically take a couple of days. Funds can the same way can be moved back to your chequing or savings accounts by the exact same steps.
Which Other Benefits and Products Are Available?
Wealthsimple Cash – An equivalent to Interac E-Transfers that allows anyone to quickly and simply transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you need to prepare for tax season and submit your tax return online free. It’s pitched to be easy, accurate and always totally free tax filing.
Wealthsimple Spend – A hybrid pre paid visa and savings account which allows you to earn 1% cashback on all your purchases, as well as earn a very competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform which includes a variety of different online courses on saving, investments, crypto, real estate and more.
Each of the above features, including Wealthsimple Trade can be found on the app or on their website with one login.
But How do I Start With Wealthsimple Trade?
Click here to signup for a Wealthsimple Trade account. As a special registration bonus offer for our readers you’ll receive the equivalent cash value of a Canadian stock valued at up to $4,500 CAD once you fund your account.
So What if I Still Have Additional Questions Concerning John Grant Wealthsimple?
If this article didn’t given you the answers to each of your questions, and you’re searching for further facts relating to John Grant Wealthsimple, go to the Wealthsimple site for answers to each your questions.