What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian digital Financial, stock plus crypto trading platform that differentiates itself from its competitors by charging absolutely no fees.
A Toronto, Ontario based fintech business founded in Fall 2014 originally as a robo-advisor trading platform named Wealthsimple Invest, it has improved considerably over the last 8 years to include Wealthsimple Trade, a zero fees discount brokerage app.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade allows investors to trade individual stocks and ETFs without paying commissions. The exception to this is when you’re trading stocks that are displayed in US Dollars. In which case, they will charge a nominal currency conversion fee both when buying and selling. But, behind us are the times of having to pay more than $7 for each trade with digital discount brokerages as was common only a couple years past.
How Much Money do I Need in Order to Get Started on Wealthsimple Trade?
Wealthsimple is awesome such that they will allow investors to make a minimum deposit of just $1. Most traditional banks and brokerages have large initial deposit amounts of 1K-$5,000. This makes it tough for the every day new investor to start investing. With Wealthsimple Trade, one doesn’t need to be wealthy to start trading stocks and ETFs.
Does Wealthsimple Trade Have RRSP Accounts?
It does. Wealthsimple Trade offers CRA registered and non-CRA-registered account types. You are able to choose between both RRSP and TFSA accounts in the setup process.
So Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade has a easy to use mobile app available on Apple and Android. The app makes the registration process and also the trading of stocks and ETFs super simple.
Is Wealthsimple Trade Safe?
Definitely. Wealthsimple Trade is trustworthy. Wealthsimple has in excess of 15 billion Canadian in Assets Under Management (AUM). These folks have been expanding for more than 7 years and currently employs more than 600 Canadians. The controlling shareholder is the respected publicly traded Canadian entity Power Corp of Canada. Weapthsimple Trade was the first no-fees digital discount brokerage operating in Canada.
How Can I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it quite simple to fund an account. Just connect the app to a chequing or savings account to your Trade account, and fund your account in only a couple of steps. Deposits from your bank to Wealthsimple normally take a couple of days. Funds can the same way can be moved back to a chequing or savings account by the same process.
Which Additional Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is alternative to e-transfers which allow you to quickly and simply send money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to get ready for tax season and submit your tax return online for free. It’s described as simple, accurate and always free tax return filing.
Wealthsimple Spend – A hybrid pre paid debit card and savings product that allows one to recieve 1% cashback on all your everyday spending, and also get a competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance platform that includes a variety of online courses on saving, investing, crypto, home buying and much more.
All of the above features, along with Wealthsimple Trade may be found in the mobile app and on the site with your Wealthsimple login.
But How Can I Get Started With Wealthsimple Trade?
Click here to setup a Wealthsimple Trade account. As an exclusive registration bonus offer for our readers you will receive the cash value of a stock worth up to $4,500 Canadian once you deposit to your account.
But What if I Still Have Questions Concerning Open Crypto Account Wealthsimple?
If this article didn’t answered all of your questions, and you’re browsing for further info about Open Crypto Account Wealthsimple, check out the Wealthsimple website for answers to each your questions.