What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian digital Financial, stocks plus crypto trading app that differentiates itself from its competitors by charging no fees.
A Toronto, Ontario based online financial services business launched in the Autumn twenty fourteen originally as a robo advisor automated trading app named Wealthsimple Invest, it has changed significantly over the previous eight years to include Wealthsimple Trade, a zero fee discount brokerage platform.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade allows Canadian consumers trade both single stocks and also ETFs without needing to pay commissions. The exception is when trading stocks and ETFs which are denominated in USD currency. In this case, they charge a currency conversion fee both when buying and selling. But, behind us are the times of having to pay $7-12 per each trade with online discount brokerages as was expected only a couple years past.
Exactly How Much in Funds Will I Need in Order to Start With Wealthsimple Trade?
Wealthsimple is awesome such that they allow new customers to make a minimum deposit of only $1. Many traditional banks and brokerages have sizeable min deposit amounts of $1000-5k. This makes it hard for the common new investor to get started. With Wealthsimple Trade, you won’t have to already 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 account types. One are able to choose both RRSP and TFSA accounts during the setup phase.
So Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade offers a convenient mobile app that is offered to download on both Apple and also Google Play. The mobile app makes the registration process and trading of stocks and ETFs very simple.
Is Wealthsimple Trade Legit?
For sure. Wealthsimple Trade is secure. Wealthsimple reports more than 15 billion CAD of Assets Under Management (AUM). This company has been operating for more than 7 years and also at this time employs more than 600 folks. The controlling shareholder is the large publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade is the first no-fee digital discount brokerage to operate in Canada.
How Does One Fund a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it easy to deposit to your account. Simply connect the app to a chequing or savings account with your Trade account, and then fund your account in only a few clicks. Deposits from financial institutions to Wealthsimple typically take only a couple of days. Funds can the same way can be moved to a chequing or savings accounts through the same steps.
Which Other Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is equivalent to Interac E-Transfers that allow anyone to quickly and efficiently send cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for this tax season and submit your taxes online for free. It’s described to be easy, accurate and always free tax filing.
Wealthsimple Spend – A combination pre paid debit card and savings product which lets you to get 1% cashback on all your spending, as well as get a very competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance platform that includes a bunch of courses on topics like saving, investing, crypto, real estate and more.
Every one of the mentioned features, including Wealthsimple Trade can be found on the mobile app and at the site with your Wealthsimple login.
But How Should I Start Using Wealthsimple Trade?
Click here to register for your Wealthsimple Trade account. For an exclusive registration bonus offer for our audience you’ll receive the equivalent cash value of a share worth up to $4,500 CAD as soon as you fund your account.
What if I Still Have Additional Questions Concerning Norbert’s Gambit Wealthsimple?
If this article didn’t answered each of your questions, and you’re still searching for more information about Norbert’s Gambit Wealthsimple, check out the Wealthsimple site to find answers to all your questions.