What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian web based Financial, stock plus crypto trading web app that distinguishes itself from similar apps by charging no fees.
A fintech business founded in the Fall of twenty fourteen originally as a robo-advisor trading platform named Wealthsimple Invest, it has evolved substantially over the past eight years to also include Wealthsimple Trade, a zero fee discount brokerage platform.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade allows consumers to trade both individual stocks and also ETFs without having to pay any fees. The exception is when trading stocks which are displayed in USD currency. In that case, they will charge a currency conversion fee both when buying and selling. But, gone are the times of having to pay $7-12 per trade with discount brokerages as was expected only a couple years ago.
Exactly How Much Money Will I Need to Get Started With Wealthsimple Trade?
Wealthsimple is special in that they will allow Canadians to make a minimum deposit of only $1. Most traditional banks and discount brokerages have large initial deposit amounts of $1000-5K. This makes it difficult for the every day investor to start. With Wealthsimple Trade, one doesn’t need to already be wealthy to get started with trading stocks and ETFs.
But Does Wealthsimple Trade Have TFSA Accounts?
It does. Wealthsimple Trade has both registered and non-registered account types. One are able to choose both RRSP and TFSA accounts in the setup wizard.
Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade has a easy to use mobile app that is available on iOS and also Google Play. The smartphone app makes the signup phase and also the trading of stocks and ETFs truly a breeze.
Is Wealthsimple Trade Secure?
Yes. Wealthsimple Trade is safe. Wealthsimple reports over 15 billion Canadian in Assets Under Management (AUM). They have been expanding for more than 7 years and also now employs roughly 600 Canadians. The controlling owner is the admired public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the first no-fee digital discount brokerage operating in Canada.
But How Do I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it quite straight forward to fund your account. Just connect to a chequing or savings account to your Trade account, then add money to your account in just a few clicks. Deposits from your bank to Wealthsimple normally take a few days. Funds can just as easily be moved back to a chequing or savings account by the exact same steps.
Which Other Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is equivalent to e-transfers that allow anyone to quickly and easily send cash to friends and family in Canada.
Wealthsimple Tax – Everything you require to prepare for tax year and file your taxes online for free. It’s pitched to be easy, accurate and always free tax filing.
Wealthsimple Spend – A hybrid prepaid debit card and savings product which allows one to get 1% cashback on your purchases, and also earn a competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform which offers a variety of different courses on topics like saving, investing, crypto, home buying and much more.
Each of the listed features, including Wealthsimple Trade may be found within the mobile app or from their website with a single login.
How Should I Start Using Wealthsimple Trade?
Click here to create a Wealthsimple Trade account. As a special registration bonus for our audience you’ll get the equivalent cash value of a random share worth up to $4,500 Canadian as soon as you make an initial deposit to your account.
What if I Still Have Questions Concerning Rrsp Wealthsimple?
If this blog post didn’t given you the answers to each of your questions, and you’re still looking for additional info relating to Rrsp Wealthsimple, visit the Wealthsimple website to find answers to all your questions.