What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian web based investing, securities and crypto trading platform that sets itself apart from its competitors by charging absolutely no fees.
A Toronto, Ontario based fintech company founded in the Fall twenty fourteen originally as a robo advisor trading app called Wealthsimple Invest, it has changed substantially over the past eight years to feature Wealthsimple Trade, a zero fees discount brokerage platform.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade lets Canadian consumers trade both stand alone stocks and also ETFs without paying fees. The exception to this is when you’re trading stocks that are listed in US Dollars. In which case, they charge a small currency conversion fee both when buying and selling. However, past us are the days of paying $7-12 for each trade with online discount brokerages as was normal a couple years past.
Exactly How Much Cash Will I Need to Begin Investing on Wealthsimple Trade?
Wealthsimple is unique in that they allow new customers to make a minimum deposit of just $1. Many traditional banks and discount brokerages have sizeable min deposit amounts of $1,000-$5000. This makes it hard for the typical investor to get started. With Wealthsimple Trade, you don’t need to be wealthy to start trading stocks and ETFs.
Does Wealthsimple Trade Offer RRSP Accounts?
Of course. Wealthsimple Trade offers registered and non-CRA-registered accounts. One may select both RRSP and TFSA accounts during the setup phase.
But Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade has a convenient mobile app offered on both iOS and also Android. The app makes the enrollment process and trading of stocks and ETFs simple.
Is Wealthsimple Trade Legit?
Definitely. Wealthsimple Trade is legit. Wealthsimple boasts more than 15 billion CAD in Assets Under Management . This company has been expanding for more than 7 years and at this time employs over 600 folks. The primary shareholder is the admired public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the first no-fee online brokerage to operate in Canada.
So How Do I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it so straight forward to add funds to an account. Just connect to a chequing or savings account to your Trade account, then add money to your account in only a few steps. Deposits from banks to Wealthsimple typically take just a couple of days. Funds can just as easily be moved back to a chequing or savings accounts using the same steps.
What Additional Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is equivalent to Interac e-Transfers which allow one to quickly and efficiently transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you need to get ready for this tax season and submit your taxes online free. It’s advertised to be simple, accurate and always free tax filing.
Wealthsimple Spend – A hybrid prepaid visa and savings account that lets one to recieve 1% cashback on all your everyday spending, as well as earn a very competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform that offers a bunch of different online courses on topics like saving, investing, crypto, home buying and much more.
Each of the mentioned features, along with Wealthsimple Trade can be accessed inside the mobile app and at the website with a single login.
How Should I Get Started With Wealthsimple Trade?
Click here to signup for a new Wealthsimple Trade account. For a special signup bonus to our audience you’ll receive the cash value of a random stock worth up to $4,500 Canadian when you make an initial deposit to your account.
What if I Still Have Questions Related to Reddit Wealthsimple?
If this review hasn’t given you the answers to all of your questions, and you’re still searching for further specific info relating to Reddit Wealthsimple, visit the Wealthsimple site to find answers to each your questions.