What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian digital investing, securities and crypto trading platform that sets itself apart from the competition by charging no fees.
A leading Canadian fintech company launched in Autumn twenty fourteen exclusively as a robo-advisor algorithmic trading app named Wealthsimple Invest, it has grown substantially over the previous 8 years to also feature Wealthsimple Trade, a zero fees discount brokerage app.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade allows investors to trade single stocks and also ETFs without paying commissions. The exception to this is when you’re trading stocks which are denominated in USD. In that case, they charge a small currency conversion fee both when buying and selling. However, past us are the days of having to pay $7-12 for each trade with online discount brokerages as was the case only a few years past.
Exactly How Much Money do I Need to Have to Begin Investing With Wealthsimple Trade?
Wealthsimple is special in that they allow new customers to make a minimum deposit of only $1. The majority of alternative banks and brokerages have large initial deposit amounts of 1k-$5,000. This makes it impossible for the normal new investor to start. With Wealthsimple Trade, you don’t need to already be wealthy to start trading stocks and ETFs.
Does Wealthsimple Trade Offer RRSP Accounts?
It does. Wealthsimple Trade has available CRA registered and non-registered accounts. You are able to select both RRSP and TFSA accounts during the setup phase.
But Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade offers a modern mobile app that is offered on both iOS and also Google Play. The smartphone app makes the signup process and also trading of stocks and ETFs painless.
So Is Wealthsimple Trade Safe?
Most definitely. Wealthsimple Trade is legit. Wealthsimple has more than 15 billion CAD of Assets Under Management . They have been operating for more than 7 years and employs roughly 600 people. The controlling owner is the respected public Canadian company Power Corp of Canada. Weapthsimple Trade is the very first no-fees digital brokerage to operate in Canada.
So How Does One Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it so simple to deposit to an account. Just connect to a chequing or savings account to your Trade account, then add money to your account in simply a few steps. Deposits from financial institutions to Wealthsimple normally take a couple of days. Funds can just as easily be moved back to a chequing or savings accounts through the exact same process.
Which Other Features and Products Are Available?
Wealthsimple Cash – This is alternative to Interac e-Transfers which allow you to quickly and easily transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you need to get ready for this tax season and file your taxes online for free. It’s pitched as easy, accurate and always free income tax filing.
Wealthsimple Spend – A combination prepaid debit card and savings product which lets you to recieve 1% cashback on all your spending, as well as get a competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform which offers a bunch of different online courses on saving, investing, crypto, home buying and more.
Every one of the mentioned features, along with Wealthsimple Trade may be found within the mobile app or at their website with your Wealthsimple login.
So How do I Begin With Wealthsimple Trade?
Click here to register for your Wealthsimple Trade account. As a special registration bonus for our readers you’ll receive the equivalent cash value of a Canadian stock valued at up to $4,500 Canadian once you add funds to your account.
What if I Still Have Questions About Wealthsimple Email Format?
If this blog post still hasn’t answered all of your questions, and you’re still browsing for additional facts relating to Wealthsimple Email Format, go to the Wealthsimple site to find answers to all your questions.