What is Wealthsimple?
Wealthsimple is a simple to use Canadian online investing, stocks plus crypto trading platform that differentiates itself from its competitors by charging absolutely no fees.
A Toronto, Ontario based fintech business launched in Fall 2014 originally as a robo-advisor algorithmic trading app called Wealthsimple Invest, it has improved substantially over the past 8 years to also feature Wealthsimple Trade, a no fees discount brokerage app.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade lets investors to trade both single stocks and also ETFs without having to pay fees. The exception is when you’re trading stocks and ETFs which are denominated in USD currency. In that case, they charge a currency conversion fee when buying and selling. However, past us are the times of paying more than $7 for each trade with digital discount brokerages as was normal only a few years past.
Exactly How Much in Funds Will I Need in Order to Get Started on Wealthsimple Trade?
Wealthsimple is cool such that they allow investors to make a minimum deposit of only $1. Many alternative banks and brokerages have sizeable initial deposit amounts of $1,000-$5000. This makes it hard for the typical new investor to get started. With Wealthsimple Trade, you don’t have to already be wealthy to get started with trading stocks and ETFs.
But Does Wealthsimple Trade Offer Registered Accounts?
Of course. Wealthsimple Trade has available both registered and non-registered accounts. One can choose between both RRSP and TFSA account types in the setup phase.
But Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade has a well designed mobile app that is offered on Apple and Google Play. The smartphone app makes the enrollment process and also trading of stocks and ETFs incredibly simple.
Is Wealthsimple Trade Secure?
Yes. Wealthsimple Trade is safe. Wealthsimple boasts in excess of 15 billion CAD in Assets Under Management . This company has been in business for more than 7 years and also right now employs over 600 folks. The majority owner is the public Canadian entity Power Corp of Canada. Weapthsimple Trade was the first no-fee online brokerage to operate in Canada.
So How Do I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it very straight forward to fund an account. Simply connect the app to a chequing or savings account to your Trade account, and add funds to your account in just a few steps. Deposits from financial institutions to Wealthsimple normally take only a few days. Funds can the same way can be withdrawn a chequing or savings account using the same method.
Which Additional Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is equivalent to Interac E-Transfers that allow you to quickly and easily transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for this tax season and submit your tax return online free. It’s advertised to be simple, accurate and always free tax return filing.
Wealthsimple Spend – A hybrid prepaid visa and savings product which lets one to recieve 1% cashback on 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 which includes a ton of courses on topics like saving, investing, crypto, mortgages and much more.
All of the above products, including Wealthsimple Trade may be accessed in the mobile app or from their website with one login.
So How Should I Start With Wealthsimple Trade?
Click here to register for your Wealthsimple Trade account. As an exclusive registration bonus for our audience you’ll get the equivalent cash value of a random stock worth $25 up to $4,500 CAD as soon as you make an initial deposit to your account.
But What if I Still Have Questions About Transfer Rrsp To Wealthsimple?
If this article didn’t answered each of your questions, and you’re browsing for additional specific facts relating to Transfer Rrsp To Wealthsimple, visit the Wealthsimple website to get answers to all your questions.