What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian web based Financial, securities plus crypto trading web app that sets itself apart from other apps by charging no fees.
A Toronto, Ontario based fintech business launched in Fall 2014 originally as a robo-advisor automated trading app named Wealthsimple Invest, it has improved substantially over the past eight years to also include Wealthsimple Trade, a no fees discount brokerage platform.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade allows investors trade individual stocks and ETFs without needing to pay fees. The exception to this is when you’re trading stocks and ETFs which are displayed in US Dollars. In this case, they charge a small currency conversion fee both when buying and selling. However, behind us are the times of having to pay Upwards of $7 per each trade with discount brokerages as was normal only a few years past.
Exactly How Much Money Will I Need to Have in Order to Start With Wealthsimple Trade?
Wealthsimple is cool such that they allow new customers to make a minimum deposit of only $1. Most alternative banks and brokerages have sizeable minimum deposit amounts of $1000-5k. This makes it difficult for the everyday new investor to get started. With Wealthsimple Trade, one doesn’t need to be wealthy to start trading stocks and ETFs.
Does Wealthsimple Trade Have RRSP Accounts?
Of course. Wealthsimple Trade has available both registered and non-registered account types. One are able to choose both RRSP and TFSA accounts in the setup process.
But Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade offers a easy to use mobile app offered on both iOS and also Google Play. The mobile app makes the signup steps and trading of stocks and ETFs super easy.
But Is Wealthsimple Trade Secure?
Definitely. Wealthsimple Trade is trustworthy. Wealthsimple has more than 15 billion CAD in Assets Under Management (AUM). they’ve been doing business for more than 7 years and also currently employs roughly 600 folks. The majority shareholder is the large publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade was the very first no-fee digital brokerage operating in Canada.
How Does One Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it very simple to add money to an account. Just connect a chequing or savings account with your Trade account, and then add money to your account in just a few clicks. Deposits from banks to Wealthsimple typically take a couple of days. Funds can just as easily be withdrawn a chequing or savings account with the exact same method.
Which Other Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is equivalent to Interac E-Transfers which allow one to quickly and easily transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to prepare for tax year and submit your taxes online for free. It’s advertised to be easy, accurate and always totally free tax filing.
Wealthsimple Spend – A hybrid prepaid debit card and savings product that lets one to earn 1% cashback on your purchases, as well as earn a very competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform which offers a bunch of online courses on topics like saving, investing, crypto, real estate and much more.
Each of the above products, including Wealthsimple Trade may be found inside the app or at their site with your Wealthsimple login.
But How do I Begin With Wealthsimple Trade?
Click here to create a Wealthsimple Trade account. As a special registration bonus offer to our audience you will get the cash value of a random Canadian stock worth up to $4,500 CAD when you add funds to your account.
So What if I Still Have Additional Questions Related to Wealthsimple Facebook?
If this blog post didn’t answered all of your questions, and you’re still searching for additional specific info about Wealthsimple Facebook, check out the Wealthsimple website for answers to each your questions.