What is Wealthsimple?
Wealthsimple is a simple to use Canadian web based Financial, stock plus crypto trading app that differentiates itself from the competition by charging no fees.
A leading Canadian fintech business launched in the Fall twenty fourteen exclusively as a robo-advisor trading platform called Wealthsimple Invest, it has grown considerably over the previous 8 years to also feature Wealthsimple Trade, a no fees discount brokerage platform.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade allows Canadian consumers trade both stand alone stocks and also ETFs without paying fees. The exception is when you’re trading stocks and ETFs which are displayed in USD. In that case, they do charge a nominal currency conversion fee when buying and selling. But, gone are the days of having to pay more than $7 per trade with discount brokerages as was normal a couple years past.
How Much Money Will I Need to Have in Order to Begin Investing With Wealthsimple Trade?
Wealthsimple is cool in that they allow new customers to make a minimum deposit of just $1. Most traditional banks and brokerages have sizeable min deposit amounts of 1k-$5000. This makes it difficult for the typical investor to start investing. With Wealthsimple Trade, one doesn’t need to already be wealthy to start trading stocks and ETFs.
Does Wealthsimple Trade Offer Registered Accounts?
Of course. Wealthsimple Trade has both registered and non-registered accounts. One can select between both RRSP and TFSA account types during the setup process.
But Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade has a modern mobile app offered on both IOS and Android. The app makes the registration process and also the trading of stocks and ETFs very a breeze.
But Is Wealthsimple Trade Legit?
Most definitely. Wealthsimple Trade is secure. Wealthsimple reports over 15 billion Canadian of Assets Under Management . they’ve been operating for more than 7 years and now employs over 600 people. The majority shareholder is the large public Canadian company Power Corp of Canada. Weapthsimple Trade is the very first no-fee online discount brokerage to operate in Canada.
How Do I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it simple to add funds to an account. Simply connect a chequing or savings account to your Trade account, and add money to your account in just a few clicks. Deposits from financial institutions to Wealthsimple typically take just a couple of days. Funds can the same way can be moved back to your chequing or savings account by the exact same process.
What Additional Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An alternative to Interac e-Transfers that allow anyone to quickly and easily transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you require to prepare for this tax season and submit your tax return online for free. It’s described to be simple, accurate and always free tax return filing.
Wealthsimple Spend – A combination pre paid visa and savings product that lets you to get 1% cashback on all your spending, and also earn a very competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform that includes a bunch of courses on different topics such as saving, investing, crypto, home buying and much more.
Every one of the listed products, along with Wealthsimple Trade can be found in the app or at their website with a single login.
How do I Start Using Wealthsimple Trade?
Click here to create your Wealthsimple Trade account. For an exclusive signup bonus to our audience you will get the cash value of a share valued at up to $4,500 Canadian when you deposit to your account.
What if I Still Have Additional Questions About Open Rrsp Wealthsimple?
If this blog post still hasn’t answered each of your questions, and you’re still browsing for further specific facts about Open Rrsp Wealthsimple, check out the Wealthsimple site to get answers to all your questions.