What is Wealthsimple?
Wealthsimple is a simple to use Canadian digital investing, securities plus crypto trading app that differentiates itself from the competition by charging absolutely no fees.
A fintech company founded in Fall 2014 originally as a robo advisor algorithmic automated trading app named Wealthsimple Invest, it has evolved substantially over the last 8 years to also feature Wealthsimple Trade, a no fee discount brokerage app.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade lets investors trade both individual stocks and ETFs without paying commissions. The exception to this is when trading stocks which are denominated in USD. In that case, they charge a currency conversion fee when buying and selling. But, gone are the times of having to pay $7-12 for each trade with discount brokerages as was normal a couple years past.
How Much Money do I Need to Start Investing With Wealthsimple Trade?
Wealthsimple is awesome such that they allow new customers to make a minimum deposit of just $1. Many alternative banks and brokerages have sizeable min deposit amounts of $1000-5k. This makes it impossible for the every day investor to get started. With Wealthsimple Trade, you won’t need to already be wealthy to get started with trading stocks and ETFs.
But Does Wealthsimple Trade Offer RRSP Accounts?
It does. Wealthsimple Trade offers CRA registered and non-CRA-registered account types. You can select both RRSP and TFSA account types during the setup process.
So Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade offers a well designed mobile app that is available on both IOS and Android. The app makes the enrollment steps and the trading of stocks and ETFs incredibly easy.
So Is Wealthsimple Trade Trustworthy?
. Wealthsimple Trade is trustworthy. Wealthsimple has in excess of 15 billion Canadian of Assets Under Management . This company has been operating for more than 7 years and also right now employs roughly 600 Canadians. The primary shareholder is the public Canadian entity Power Corp of Canada. Weapthsimple Trade is the very first no-fees online brokerage to operate in Canada.
How Do I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it very simple to add money to a new account. Just connect a chequing or savings account with your Trade account, and add funds to your account in just a couple of steps. Deposits from your bank to Wealthsimple normally take just a few days. Funds can the same way can be moved back to your chequing or savings account using the same method.
Which Additional Benefits and Products Are Available?
Wealthsimple Cash – An equivalent to E-Transfers that allows you to quickly and efficiently transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to get ready for this tax season and submit your tax return online free. It’s advertised as simple, accurate and always totally free tax return filing.
Wealthsimple Spend – A combination pre paid visa and savings product that lets one to recieve 1% cashback on all your everyday spending, as well as get a competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform which offers a variety of different online courses on different topics such as saving, investing, crypto, home buying and much more.
Each of the listed features, including Wealthsimple Trade can be accessed inside the mobile app or at the site with your Wealthsimple login.
But How Should I Begin With Wealthsimple Trade?
Click here to create a new Wealthsimple Trade account. For a special registration bonus offer for our readers you will get the cash value of a random share worth up to $4,500 Canadian when you make an initial deposit to your account.
But What if I Still Have Additional Questions Concerning Wealthsimple 3 Business Days?
If this blog post didn’t given you the answers to each of your questions, and you’re still looking for further information relating to Wealthsimple 3 Business Days, check out the Wealthsimple website for answers to each your questions.