What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian digital Financial, stock and crypto trading platform that differentiates itself from the competition by charging absolutely no fees.
A leading Canadian fintech company founded in the Autumn of 2014 exclusively as a robo advisor automated trading platform named Wealthsimple Invest, it has changed considerably over the past 8 years to also include Wealthsimple Trade, a no fees discount brokerage app.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade allows investors trade stand alone stocks and ETFs without having to pay any commissions. The exception to this is when trading ETFs and stocks that are listed in USD. In this case, they will charge a currency conversion fee when buying and selling. However, behind us are the days of paying Upwards of $7 for each trade with digital discount brokerages as was normal a couple years past.
Exactly How Much Cash Will I Need in Order to Begin Investing on Wealthsimple Trade?
Wealthsimple is awesome in that they will allow Canadian investors to make a minimum deposit of only $1. The majority of traditional banks and discount brokerages have large initial deposit amounts of $1,000-5k. This makes it difficult for the common new investor to start. With Wealthsimple Trade, you won’t have to be wealthy to begin trading stocks and ETFs.
So Does Wealthsimple Trade Have RRSP Accounts?
It does. Wealthsimple Trade offers both registered and non-CRA-registered account types. You are free to select between both RRSP and TFSA accounts during the setup phase.
But Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade has a easy to use mobile app that is available to download on iOS and also Google Play. The smartphone app makes the registration phase and also trading of stocks and ETFs truly painless.
So Is Wealthsimple Trade Secure?
For sure. Wealthsimple Trade is legit. Wealthsimple boasts over 15 billion Canadian of Assets Under Management (AUM). they’ve been operating for more than 7 years and at this time employs about 600 Canadians. The majority shareholder is the admired publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the first no-fees digital discount brokerage to operate in Canada.
So How Does One Fund a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it quite easy to fund your new account. Just connect a chequing or savings account to your Trade account, then add money to your account in just a few steps. Deposits from banks to Wealthsimple typically take a couple of days. Funds can also be withdrawn a chequing or savings accounts using the same steps.
What Additional Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is equivalent to E-transfers that allows anyone to quickly and simply send money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for this tax year and file your tax return online free. It’s pitched as easy, accurate and always totally free tax return filing.
Wealthsimple Spend – A hybrid pre paid visa and savings account that lets one to earn 1% cashback on your 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 courses on topics like saving, investing, crypto, real estate and more.
All of the listed features, along with Wealthsimple Trade can be found inside the app and on the site with your Wealthsimple login.
But How Should I Get Started Using Wealthsimple Trade?
Click here to create a Wealthsimple Trade account. For an exclusive signup bonus offer for our readers you’ll receive the cash value of a random share valued at $25 up to $4,500 CAD when you add funds to your account.
So What if I Still Have Questions About Wealthsimple 0 Available To Withdraw?
If this review didn’t answered all of your questions, and you’re looking for more info relating to Wealthsimple 0 Available To Withdraw, go to the Wealthsimple website for answers to each your questions.