What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian digital investing, securities plus crypto trading web app that sets itself apart from other apps by charging absolutely no fees.
A Toronto, Ontario based online financial services business founded in Autumn twenty fourteen originally as a robo advisor automated trading platform named Wealthsimple Invest, it has improved significantly over the past 8 years to feature Wealthsimple Trade, a no fees discount brokerage app.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade allows investors trade single stocks and ETFs without paying fees. The exception to this is when you’re trading stocks that are displayed in US Dollars. In which case, they do charge a nominal currency conversion fee when buying and selling. But, gone are the days of paying Upwards of $7 for each trade with online discount brokerages as was normal a few years ago.
How Much in Funds Will I Need to Have to Begin Investing With Wealthsimple Trade?
Wealthsimple is unique such that they will allow Canadian investors to make a minimum deposit of only $1. Most alternative banks and brokerages have quite large min deposit amounts of 1k-5k. This makes it hard for the normal investor to start. With Wealthsimple Trade, one doesn’t have to already be wealthy to begin trading stocks and ETFs.
Does Wealthsimple Trade Have RRSP Accounts?
They do. Wealthsimple Trade offers both registered and non-CRA-registered account types. One are free to choose between both RRSP and TFSA accounts in the setup phase.
But Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade offers a modern mobile app offered to download on both IOS and also Android. The smartphone app makes the enrollment phase and also trading of stocks and ETFs very painless.
So Is Wealthsimple Trade Secure?
Yes. Wealthsimple Trade is safe. Wealthsimple boasts more than 15 billion CAD in Assets Under Management . they’ve been expanding for more than 7 years and at this time employs roughly 600 people. The main shareholder is the large public Canadian company Power Corp of Canada. Weapthsimple Trade is the very first no-fees online discount brokerage operating in Canada.
So How Can I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it incredibly simple to add funds to your account. Simply connect the app to a chequing or savings account to your Trade account, and then fund your account in only a few clicks. Deposits from your bank to Wealthsimple normally take only a few days. Funds can just as easily be withdrawn a chequing or savings account by the exact same process.
Which Additional Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – An alternative to E-Transfers that allow one to quickly and easily transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you need to get ready for tax season and submit your taxes online for free. It’s advertised to be simple, accurate and always free tax filing.
Wealthsimple Spend – A hybrid pre paid debit card and savings product which allows you to recieve 1% cashback on all your everyday spending, as well as earn a very competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance platform which includes a bunch of courses on saving, investments, crypto, real estate and more.
Every one of the above products, along with Wealthsimple Trade may be accessed inside the app or on their site with a single login.
How Can I Get Started With Wealthsimple Trade?
Click here to setup your Wealthsimple Trade account. For a special registration bonus to our audience you will get the cash value of a random share valued at $25 up to $4,500 CAD when you add funds to your account.
So What if I Still Have Additional Questions Related to Justwealth Vs Wealthsimple?
If this article didn’t answered each of your questions, and you’re looking for additional specific info about Justwealth Vs Wealthsimple, check out the Wealthsimple website to get answers to each your questions.