What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian digital Financial, stock and crypto trading web app that sets itself apart from other apps by charging no fees.
A leading Canadian online financial services business founded in the Autumn of 2014 exclusively as a robo advisor algorithmic automated trading platform named Wealthsimple Invest, it has grown considerably over the previous 8 years to also feature Wealthsimple Trade, a no fee discount brokerage service.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade allows consumers trade both stand alone stocks and also ETFs without needing to pay commissions. The exception is when trading ETFs and stocks that are listed in US Dollars. In this case, they will charge a small currency conversion fee both when buying and selling. However, past us are the days of having to pay more than $7 for each trade with digital discount brokerages as was common only a few years past.
Exactly How Much in Funds Will I Need to Have to Begin Investing on Wealthsimple Trade?
Wealthsimple is awesome such that they will allow Canadians to make a minimum deposit of only $1. Most alternative banks and brokerages have quite large min deposit amounts of $1,000-$5,000. This makes it tough for the every day new investor to start. With Wealthsimple Trade, you don’t have to already be wealthy to begin trading stocks and ETFs.
But Does Wealthsimple Trade Offer RRSP Accounts?
They do. Wealthsimple Trade has available CRA registered and non-CRA-registered accounts. One are able to choose between both RRSP and TFSA accounts during the setup process.
Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade has a modern mobile app that is available on Apple and Android. The app makes the enrollment steps and trading of stocks and ETFs super painless.
So Is Wealthsimple Trade Secure?
Most definitely. Wealthsimple Trade is safe. Wealthsimple reports more than 15 billion CAD in Assets Under Management (AUM). This company has been doing business for more than 7 years and also right now employs more than 600 Canadians. The main owner is the admired publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the first no-fee digital brokerage operating in Canada.
But How Can I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it quite easy to fund your new account. Just connect a chequing or savings account with your Trade account, and then add funds to your account in simply a few clicks. Deposits from your bank to Wealthsimple usually take just a couple of days. Funds can also be moved back to a chequing or savings account using the exact same steps.
What Other Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An equivalent to e-transfers that allow one to quickly and easily send cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to get ready for this tax year and submit your tax return online for free. It’s pitched as simple, accurate and always totally free income tax filing.
Wealthsimple Spend – A hybrid prepaid debit card and savings product which allows you to recieve 1% cashback on your everyday spending, as well as earn a very competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform that offers a bunch of different courses on different topics such as saving, investments, crypto, real estate and more.
All of the listed products, along with Wealthsimple Trade can be accessed on the mobile app and from the site with one login.
But How Can I Start Using Wealthsimple Trade?
Click here to register for your Wealthsimple Trade account. As an exclusive registration bonus to our audience you’ll get the cash value of a share valued at up to $4,500 CAD when you fund your account.
But What if I Still Have Questions About Wealthsimple Free $50?
If this review hasn’t given you the answers to each of your questions, and you’re looking for more info about Wealthsimple Free $50, go to the Wealthsimple site for answers to all your questions.