What is Wealthsimple?
Wealthsimple is an easy to use Canadian web based investing, stock plus crypto trading app that distinguishes itself from its competitors by charging no fees.
A online financial services company founded in Fall of twenty fourteen exclusively as a robo-advisor algorithmic automated trading app called Wealthsimple Invest, it has evolved substantially over the previous eight years to also include Wealthsimple Trade, a zero fees discount brokerage service.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade lets Canadian investors to trade stand alone stocks and also ETFs without having to pay any commissions. The exception to this is when you’re trading securities that are denominated in USD currency. In which case, they charge a small currency conversion fee when buying and selling. However, behind us are the days of having to pay Upwards of $7 per trade with digital discount brokerages as was the norm a couple years ago.
Exactly How Much in Funds Will I Need in Order to Begin Investing on Wealthsimple Trade?
Wealthsimple is awesome in that they allow investors to make a minimum deposit of just $1. Most traditional banks and discount brokerages have quite large min deposit amounts of 1k-5K. This makes it impossible for the normal new investor to get started. With Wealthsimple Trade, one doesn’t have to already be wealthy to start trading stocks and ETFs.
Does Wealthsimple Trade Have RRSP Accounts?
It does. Wealthsimple Trade has both CRA registered and non-CRA-registered account types. One are free to select between both RRSP and TFSA accounts during the setup phase.
Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade has a well designed mobile app that is offered on iOS and Google Play. The smartphone app makes the signup phase and also trading of stocks and ETFs simple.
Is Wealthsimple Trade Secure?
. Wealthsimple Trade is secure. Wealthsimple reports more than 15 billion CAD in Assets Under Management (AUM). These folks have been doing business for more than 7 years and also right now employs about 600 folks. The controlling owner is the admired publicly traded Canadian entity Power Corp of Canada. Weapthsimple Trade was the very first no-fee digital brokerage to operate in Canada.
So How Do I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it quite simple to add funds to an account. Just connect to a chequing or savings account with your Trade account, and then add funds to your account in simply a couple of clicks. Deposits from financial institutions to Wealthsimple usually take a couple of days. Funds can the same way can be withdrawn your chequing or savings accounts by the exact same steps.
Which Additional Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is alternative to Interac E-Transfers that allows anyone to quickly and easily transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for this tax year and submit your taxes online free. It’s described to be simple, accurate and always totally free tax filing.
Wealthsimple Spend – A combination pre paid visa and savings product which allows one to earn 1% cashback on all your everyday purchases, as well as get a competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform that offers a bunch of different courses on different topics such as saving, investments, crypto, mortgages and much more.
Each of the above features, along with Wealthsimple Trade may be accessed inside the app and on the site with a single login.
So How Can I Begin Using Wealthsimple Trade?
Click here to register for a new Wealthsimple Trade account. For a special signup bonus to our readers you’ll get the equivalent cash value of a random stock valued at up to $4,500 Canadian when you add funds to your account.
What if I Still Have Additional Questions Concerning Open Resp Wealthsimple?
If this blog post didn’t answered all of your questions, and you’re still looking for additional info about Open Resp Wealthsimple, go to the Wealthsimple site for answers to each your questions.