What is Wealthsimple?
Wealthsimple is a simple to use Canadian online investing, stocks and crypto trading web app that distinguishes itself from the competition by charging absolutely no fees.
A leading Canadian online financial services business founded in the Autumn 2014 exclusively as a robo advisor automated trading app called Wealthsimple Invest, it has evolved considerably over the past 8 years to feature Wealthsimple Trade, a no fee discount brokerage platform.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade lets Canadian investors to trade both individual stocks and ETFs without having to pay commissions. The exception to this is when you’re trading securities which are denominated in US Dollars. In that case, they do charge a small currency conversion fee when buying and selling. However, past us are the times of paying Upwards of $7 per each trade with digital discount brokerages as was expected only a few years past.
How Much Cash do I Need to Have to Get Started With Wealthsimple Trade?
Wealthsimple is unique in that they will allow new customers to make a minimum deposit of just $1. Most alternative banks and discount brokerages have sizeable initial deposit amounts of 1k-$5,000. This makes it difficult for the every day new investor to start investing. With Wealthsimple Trade, one doesn’t have to be wealthy to get started with trading stocks and ETFs.
Does Wealthsimple Trade Have RRSP Accounts?
They do. Wealthsimple Trade offers CRA registered and non-CRA-registered accounts. You may select both RRSP and TFSA accounts in the setup wizard.
Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade has a convenient mobile app offered to download on iOS and also Google Play. The mobile app makes the registration steps and also the trading of stocks and ETFs super a breeze.
So Is Wealthsimple Trade Secure?
Of course. Wealthsimple Trade is safe. Wealthsimple reports in excess of 15 billion CAD of Assets Under Management . they’ve been expanding for more than 7 years and also employs over 600 Canadians. The majority shareholder is the large publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade is the very first no-fees digital discount brokerage to operate in Canada.
But How Can I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it quite simple to add funds to your account. Just connect to a chequing or savings account to your Trade account, then fund your account in simply a couple of clicks. Deposits from financial institutions to Wealthsimple usually take a few days. Funds can also be withdrawn a chequing or savings account with the same method.
Which Additional Features and Products Are Available?
Wealthsimple Cash – This is alternative to Interac e-Transfers which allows one to quickly and efficiently send cash to friends and family in Canada.
Wealthsimple Tax – Everything you need to get ready for this tax year and file your tax return online for free. It’s advertised as simple, accurate and always free tax return filing.
Wealthsimple Spend – A combination pre paid visa and savings account which lets one to get 1% cashback on your spending, as well as get a very competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform which includes a variety of different courses on different topics such as saving, investments, crypto, mortgages and much more.
Every one of the listed features, including Wealthsimple Trade can be accessed on the app and at their website with a single login.
So How do I Begin Using Wealthsimple Trade?
Click here to create a new Wealthsimple Trade account. For a special signup bonus to our readers you’ll receive the cash value of a random Canadian stock valued at up to $4,500 Canadian as soon as you add funds to your account.
What if I Still Have Additional Questions Concerning Wealthsimple Crypto?
If this blog post didn’t given you the answers to all of your questions, and you’re still looking for additional info relating to Wealthsimple Crypto, check out the Wealthsimple site to find answers to every one of your questions.