What is Wealthsimple?
Wealthsimple is a simple to use Canadian online Financial, securities plus crypto trading platform that distinguishes itself from other apps by charging absolutely no fees.
A leading Canadian fintech company launched in the Autumn 2014 exclusively as a robo advisor algorithmic automated trading platform called Wealthsimple Invest, it has evolved considerably over the previous 8 years to feature Wealthsimple Trade, a zero fees discount brokerage app.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade lets consumers to trade individual stocks and ETFs without having to pay any fees. The exception is when you’re trading securities which are displayed in USD. In that case, they charge a currency conversion fee both when buying and selling. But, behind us are the times of having to pay Upwards of $7 for each trade with discount brokerages as was normal a couple years ago.
Exactly How Much Money Will I Need to Have to Get Started With Wealthsimple Trade?
Wealthsimple is cool in that they allow Canadian investors to make a minimum deposit of just $1. Many alternative banks and discount brokerages have sizeable min deposit amounts of $1,000-$5000. This makes it difficult for the normal new investor to start. With Wealthsimple Trade, you won’t need to be wealthy to get started with trading stocks and ETFs.
So Does Wealthsimple Trade Have RRSP Accounts?
Yes. Wealthsimple Trade offers both CRA registered and non-registered accounts. You are able to select between both RRSP and TFSA account types during the setup process.
But Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade has a modern mobile app that is available on Apple and also Android. The app makes the enrollment phase and also the trading of stocks and ETFs super easy.
Is Wealthsimple Trade Legit?
Yes. Wealthsimple Trade is safe. Wealthsimple has over 15 billion Canadian of Assets Under Management (AUM). They have been expanding for more than 7 years and employs roughly 600 Canadians. The controlling shareholder is the respected public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the first no-fee digital brokerage operating in Canada.
How Do I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it straight forward to add money to your new account. Just connect a chequing or savings account with your Trade account, and add funds to your account in only a few clicks. Deposits from banks to Wealthsimple usually take just a few days. Funds can just as easily be moved to your chequing or savings accounts using the exact same steps.
Which Additional Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An equivalent to Interac E-transfers that allow one to quickly and efficiently send money to friends and family in Canada.
Wealthsimple Tax – Everything you need to get ready for tax year and file your tax return online for free. It’s described to be simple, accurate and always free tax filing.
Wealthsimple Spend – A combination pre paid debit card and savings product that allows you to earn 1% cashback on your purchases, and also earn a competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform that offers a bunch of different courses on different topics such as saving, investing, crypto, mortgages and much more.
All of the above products, along with Wealthsimple Trade can be found within the app or on their website with a single login.
But How Can I Get Started Using Wealthsimple Trade?
Click here to signup for a Wealthsimple Trade account. As a special registration bonus to our audience you will receive the cash value of a random Canadian stock valued at up to $4,500 Canadian as soon as you make an initial deposit to your account.
What if I Still Have Questions Related to Wealthsimple 50$?
If this review hasn’t answered each of your questions, and you’re looking for additional info relating to Wealthsimple 50$, visit the Wealthsimple website to get answers to every one of your questions.