What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian web based Financial, securities plus crypto trading platform that sets itself apart from its competitors by charging absolutely no fees.
A leading Canadian online financial services company founded in the Fall of 2014 exclusively as a robo-advisor automated trading app named Wealthsimple Invest, it has evolved considerably over the last eight years to feature Wealthsimple Trade, a no fees discount brokerage platform.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade allows investors to trade stand alone stocks and ETFs without having to pay any fees. The exception is when trading securities that are displayed in US Dollars. In which case, they charge a nominal currency conversion fee when buying and selling. But, behind us are the times of paying Upwards of $7 per each trade with digital discount brokerages as was normal only a couple years ago.
How Much Money Will I Need to Have to Start Investing on Wealthsimple Trade?
Wealthsimple is special in that they will allow investors to make a minimum deposit of just $1. The majority of traditional banks and brokerages have quite large minimum deposit amounts of $1,000-5K. This makes it difficult for the typical new investor to get started. With Wealthsimple Trade, one doesn’t need to already be wealthy to get started with trading stocks and ETFs.
Does Wealthsimple Trade Offer RRSP Accounts?
They do. Wealthsimple Trade has available CRA registered and non-registered accounts. One are able to choose both RRSP and TFSA accounts in the setup process.
So Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade has a modern mobile app offered to download on iOS and Android. The mobile app makes the enrollment phase and the trading of stocks and ETFs easy.
Is Wealthsimple Trade Trustworthy?
. Wealthsimple Trade is trustworthy. Wealthsimple has more than 15 billion Canadian in Assets Under Management (AUM). They have been expanding for more than 7 years and right now employs roughly 600 people. The main owner is the large public Canadian entity Power Corp of Canada. Weapthsimple Trade was the very first no-fees digital brokerage operating in Canada.
How Does One Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it incredibly simple to fund your account. Just connect to a chequing or savings account to your Trade account, then fund your account in just a couple of steps. Deposits from financial institutions to Wealthsimple usually take a couple of days. Funds can the same way can be withdrawn a chequing or savings account by the exact same method.
What Additional Benefits and Products Are Available?
Wealthsimple Cash – This is equivalent to e-transfers which allow anyone to quickly and efficiently transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to get ready for this tax year and submit your taxes online for free. It’s advertised as simple, accurate and always free tax return filing.
Wealthsimple Spend – A combination pre paid debit card and savings account which allows one to recieve 1% cashback on all your everyday spending, as well as get a competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform that includes a ton of online courses on saving, investing, crypto, home buying and more.
All of the above features, including Wealthsimple Trade can be accessed within the app and from their site with a single login.
But How do I Begin Using Wealthsimple Trade?
Click here to create a Wealthsimple Trade account. For a special registration bonus for our readers you will get the cash value of a random stock valued at $25 up to $4,500 CAD as soon as you deposit to your account.
So What if I Still Have Questions Related to Us Stocks Wealthsimple?
If this blog post didn’t answered each of your questions, and you’re looking for further information relating to Us Stocks Wealthsimple, check out the Wealthsimple site to find answers to every one of your questions.