What is Wealthsimple?
Wealthsimple is an easy to use Canadian web based investing, stock plus crypto trading platform that sets itself apart from similar apps by charging no fees.
A leading Canadian online financial services company launched in the Autumn of 2014 exclusively as a robo-advisor trading platform named Wealthsimple Invest, it has evolved significantly over the last 8 years to also feature Wealthsimple Trade, a no fee discount brokerage service.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade allows Canadian consumers trade stand alone stocks and ETFs without having to pay commissions. The exception to this is when trading stocks that are listed in US Dollars. In that case, they will charge a currency conversion fee both when buying and selling. But, past us are the days of paying Upwards of $7 per each trade with digital discount brokerages as was normal just a couple years past.
How Much Cash Will I Need to Have to Start on Wealthsimple Trade?
Wealthsimple is special such that they allow investors to make a minimum deposit of only $1. Most alternative banks and discount brokerages have sizeable minimum deposit amounts of 1K-5k. This makes it impossible for the everyday new investor to start investing. With Wealthsimple Trade, you don’t need to already be wealthy to start trading stocks and ETFs.
Does Wealthsimple Trade Offer Registered Accounts?
Yes. Wealthsimple Trade has CRA registered and non-CRA-registered accounts. You are able to select both RRSP and TFSA accounts in the setup process.
Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade has a modern mobile app available on iOS and Google Play. The smartphone app makes the enrollment steps and also trading of stocks and ETFs a breeze.
So Is Wealthsimple Trade Legit?
Most definitely. Wealthsimple Trade is secure. Wealthsimple has over 15 billion Canadian of Assets Under Management . These folks have been in business for more than 7 years and also now employs about 600 people. The primary shareholder is the admired public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the very first no-fee digital discount brokerage operating in Canada.
How Does One Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it so easy to add funds to a new account. Just connect to a chequing or savings account with your Trade account, then add funds to your account in only a couple of clicks. Deposits from financial institutions to Wealthsimple typically take a couple of days. Funds can the same way can be withdrawn your chequing or savings accounts by using the same process.
What Additional Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is alternative to Interac e-transfers that allows anyone to quickly and easily transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you require to get ready for tax year and submit your tax return online free. It’s advertised as simple, accurate and always free tax return filing.
Wealthsimple Spend – A combination prepaid visa and savings account which allows one to get 1% cashback on your spending, and also get a very competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform that offers a bunch of courses on saving, investments, crypto, real estate and much more.
Every one of the listed products, including Wealthsimple Trade may be found in the mobile app or at the site with your Wealthsimple login.
How do I Begin With Wealthsimple Trade?
Click here to setup a new Wealthsimple Trade account. As an exclusive signup bonus offer to our audience you’ll receive the equivalent cash value of a Canadian stock valued at $25 up to $4,500 Canadian once you make an initial deposit to your account.
But What if I Still Have Questions Related to Wealthsimple Gic Rates?
If this article didn’t given you the answers to all of your questions, and you’re still searching for additional specific info about Wealthsimple Gic Rates, go to the Wealthsimple website for answers to every one of your questions.