What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian web based Financial, stock plus crypto trading web app that differentiates itself from other apps by charging no fees.
A leading Canadian online financial services company launched in Fall 2014 originally as a robo advisor automated trading app named Wealthsimple Invest, it has changed substantially over the previous 8 years to feature Wealthsimple Trade, a zero fees discount brokerage service.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade lets Canadian consumers to trade both individual stocks and ETFs without needing to pay any fees. The exception to this is when you’re trading stocks that are listed in US Dollars. In this case, they do charge a small currency conversion fee both when buying and selling. However, past us are the days of having to pay Upwards of $7 per trade with digital discount brokerages as was expected a couple years ago.
How Much Money Will I Need to Have to Start on Wealthsimple Trade?
Wealthsimple is awesome in that they will allow new customers to make a minimum deposit of just $1. The majority of traditional banks and brokerages have large minimum deposit amounts of $1000-$5000. This makes it difficult for the normal investor to get started. With Wealthsimple Trade, you won’t need to already be wealthy to get started with trading stocks and ETFs.
So Does Wealthsimple Trade Offer RRSP Accounts?
Of course. Wealthsimple Trade has CRA registered and non-CRA-registered accounts. One can choose both RRSP and TFSA accounts during the setup phase.
But Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade has a modern mobile app that is available to download on iOS and Android. The app makes the registration process and also the trading of stocks and ETFs simple.
Is Wealthsimple Trade Secure?
Yes. Wealthsimple Trade is trustworthy. Wealthsimple boasts in excess of 15 billion CAD in Assets Under Management (AUM). These folks have been operating for more than 7 years and also currently employs over 600 folks. The controlling owner is the respected public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the first no-fee digital discount brokerage to operate in Canada.
So How Do I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it so simple to deposit to your new account. Simply connect the app to a chequing or savings account with your Trade account, then add money to your account in simply a couple of steps. Deposits from financial institutions to Wealthsimple typically take only a few days. Funds can the same way can be moved back to a chequing or savings accounts by the exact same method.
Which Other Features and Products Are Available?
Wealthsimple Cash – An equivalent to Interac E-Transfers that allows one to quickly and easily transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you require to prepare for this tax year and file your taxes online for free. It’s described to be easy, accurate and always free income tax filing.
Wealthsimple Spend – A hybrid prepaid visa and savings product that allows you to earn 1% cashback on your everyday spending, and also get a competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform which offers a bunch of different courses on topics like saving, investing, crypto, mortgages and more.
Each of the listed features, including Wealthsimple Trade may be accessed inside the mobile app and from their site with a single login.
How Can I Begin With Wealthsimple Trade?
Click here to signup for a new Wealthsimple Trade account. As a special registration bonus to our readers you will get the equivalent cash value of a random share valued at $25 up to $4,500 CAD once you fund your account.
But What if I Still Have Questions About Wealthsimple 0 Available To Transfer?
If this blog post hasn’t given you the answers to all of your questions, and you’re searching for more specific info relating to Wealthsimple 0 Available To Transfer, check out the Wealthsimple website for answers to each your questions.