What is Wealthsimple?
Wealthsimple is an easy to use Canadian online Financial, stocks plus crypto trading web app that differentiates itself from its competitors by charging absolutely no fees.
A leading Canadian online financial services business founded in Fall twenty fourteen exclusively as a robo advisor algorithmic trading platform named Wealthsimple Invest, it has grown considerably over the past eight years to also include Wealthsimple Trade, a no fees discount brokerage platform.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade allows Canadian investors trade both individual stocks and ETFs without needing to pay any commissions. The exception to this is when trading securities which are denominated in USD. In that case, they do charge a small currency conversion fee when buying and selling. But, past us are the days of paying more than $7 per each trade with discount brokerages as was common only a few years past.
How Much Money Will I Need in Order to Start With Wealthsimple Trade?
Wealthsimple is awesome such that they will allow Canadian investors to make a minimum deposit of just $1. Many alternative banks and brokerages have quite large min deposit amounts of $1000-5K. This makes it difficult for the normal new investor to start. With Wealthsimple Trade, one doesn’t have to be wealthy to get started with trading stocks and ETFs.
But Does Wealthsimple Trade Have RRSP Accounts?
They do. Wealthsimple Trade has both CRA registered and non-CRA-registered accounts. One are free to choose both RRSP and TFSA accounts during the setup process.
But Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade has a easy to use mobile app that is offered on Apple and Android. The smartphone app makes the registration steps and trading of stocks and ETFs truly a breeze.
Is Wealthsimple Trade Trustworthy?
. Wealthsimple Trade is secure. Wealthsimple reports more than 15 billion Canadian in Assets Under Management (AUM). They have been doing business for more than 7 years and employs about 600 folks. The controlling shareholder is the publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the first no-fees digital brokerage operating in Canada.
But How Does One Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it very easy to fund a new account. Just connect to a chequing or savings account with your Trade account, and then add money to your account in only a few steps. Deposits from financial institutions to Wealthsimple normally take just a couple of days. Funds can just as easily be moved back to your chequing or savings account by using the same process.
What Additional Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – An equivalent to Interac e-transfers which allow anyone to quickly and simply transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to get ready for tax year and file your taxes online for free. It’s described to be easy, accurate and always totally free income tax filing.
Wealthsimple Spend – A combination pre paid visa and savings account that lets you to recieve 1% cashback on all your everyday spending, as well as get a very competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform which includes a ton of different courses on different topics such as saving, investing, crypto, home buying and more.
Every one of the listed features, including Wealthsimple Trade may be found on the app and at the website with one login.
How Should I Start Using Wealthsimple Trade?
Click here to create a new Wealthsimple Trade account. For a special signup bonus offer to our audience you will get the cash value of a random stock valued at $25 up to $4,500 CAD when you add funds to your account.
What if I Still Have Questions Related to Wealthsimple 990?
If this article still hasn’t given you the answers to each of your questions, and you’re looking for more info relating to Wealthsimple 990, visit the Wealthsimple site to find answers to every one of your questions.