What is Wealthsimple?
Wealthsimple is a simple to use Canadian online Financial, stocks plus crypto trading platform that distinguishes itself from the competition by charging absolutely no fees.
A leading Canadian fintech business founded in Fall of twenty fourteen originally as a robo advisor algorithmic automated trading app named Wealthsimple Invest, it has changed considerably over the previous eight years to also feature Wealthsimple Trade, a no fees discount brokerage service.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade lets Canadian investors trade both individual stocks and also ETFs without needing to pay any commissions. The exception to this is when you’re trading stocks and ETFs that are displayed in USD. In this case, they charge a small currency conversion fee when buying and selling. However, gone are the days of having to pay Upwards of $7 for each trade with digital discount brokerages as was normal only a few years past.
How Much Money Will I Need to Have in Order to Start Investing on Wealthsimple Trade?
Wealthsimple is special such that they will allow new customers to make a minimum deposit of just $1. The majority of traditional banks and brokerages have sizeable minimum deposit amounts of 1k-5K. This makes it tough for the common investor to start investing. With Wealthsimple Trade, you won’t need to already be wealthy to get started with trading stocks and ETFs.
But Does Wealthsimple Trade Have RRSP Accounts?
Yes. Wealthsimple Trade offers both registered and non-CRA-registered accounts. You may select between both RRSP and TFSA account types in the setup process.
So Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade offers a well designed mobile app that is offered on IOS and Android. The app makes the registration process and the trading of stocks and ETFs very easy.
So Is Wealthsimple Trade Legit?
Definitely. Wealthsimple Trade is legit. Wealthsimple boasts more than 15 billion CAD in Assets Under Management . They have been expanding for more than 7 years and at this time employs over 600 Canadians. The majority shareholder is the respected public Canadian corporation Power Corp of Canada. Weapthsimple Trade was the very first no-fee online brokerage to operate in Canada.
How Do I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it so straight forward to deposit to your new account. Simply connect the app to a chequing or savings account to your Trade account, then fund your account in just a couple of steps. Deposits from banks to Wealthsimple usually take just a couple of days. Funds can the same way can be moved back to your chequing or savings accounts by using the exact same process.
What Other Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is alternative to E-Transfers that allows one to quickly and efficiently transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to get ready for tax season and file your tax return online for free. It’s advertised to be easy, accurate and always totally free tax return filing.
Wealthsimple Spend – A combination pre paid visa and savings product that lets one to earn 1% cashback on your purchases, and also earn a very competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform that includes a bunch of online courses on saving, investing, crypto, mortgages and much more.
Each of the listed features, including Wealthsimple Trade can be accessed inside the mobile app and on their website with your Wealthsimple login.
But How Should I Get Started Using Wealthsimple Trade?
Click here to register for a Wealthsimple Trade account. For an exclusive signup bonus offer for our audience you’ll get the cash value of a random stock valued at up to $4,500 CAD once you deposit to your account.
What if I Still Have Additional Questions Related to Wealthsimple 2020 Tax Return?
If this review hasn’t answered all of your questions, and you’re looking for additional info about Wealthsimple 2020 Tax Return, go to the Wealthsimple website for answers to all your questions.