What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian online Financial, stock and crypto trading platform that distinguishes itself from similar apps by charging no fees.
A fintech company founded in Fall of twenty fourteen originally as a robo-advisor algorithmic trading app named Wealthsimple Invest, it has grown substantially over the previous 8 years to include Wealthsimple Trade, a zero fees discount brokerage platform.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade allows Canadian investors trade stand alone stocks and ETFs without paying commissions. The exception to this is when you’re trading stocks and ETFs which are displayed in USD currency. In that case, they charge a nominal currency conversion fee both when buying and selling. However, behind us are the days of having to pay $7-12 per each trade with discount brokerages as was the case just a few years ago.
Exactly How Much in Funds Will I Need to Have in Order to Start on Wealthsimple Trade?
Wealthsimple is cool in that they allow new customers to make a minimum deposit of only $1. Many traditional banks and brokerages have sizeable initial deposit amounts of 1k-5k. This makes it hard for the everyday new investor to start investing. With Wealthsimple Trade, one doesn’t have to be wealthy to start trading stocks and ETFs.
Does Wealthsimple Trade Have Registered Accounts?
Yes. Wealthsimple Trade has available both registered and non-registered account types. One can select both RRSP and TFSA account types in the setup wizard.
Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade offers a well designed mobile app offered to download on both IOS and also Google Play. The smartphone app makes the signup steps and also the trading of stocks and ETFs easy.
So Is Wealthsimple Trade Secure?
Yes. Wealthsimple Trade is secure. Wealthsimple reports over 15 billion Canadian of Assets Under Management (AUM). They have been doing business for more than 7 years and also employs roughly 600 folks. The controlling owner is the respected public Canadian company Power Corp of Canada. Weapthsimple Trade is the very first no-fee digital discount brokerage to operate in Canada.
How Do I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it quite easy to fund your new account. Just connect a chequing or savings account with your Trade account, and then fund your account in just a few clicks. Deposits from financial institutions to Wealthsimple usually take a few days. Funds can also be moved to a chequing or savings accounts by using the same process.
What Additional Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – An equivalent to Interac e-transfers which allows anyone to quickly and simply send money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to get ready for tax year and submit your tax return online free. It’s described as easy, accurate and always totally free income tax filing.
Wealthsimple Spend – A combination pre paid visa and savings product which allows one to earn 1% cashback on your spending, as well as earn a very competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance platform which includes a variety of online courses on different topics such as saving, investments, crypto, mortgages and much more.
Each of the listed products, including Wealthsimple Trade can be accessed on the mobile app or on the site with your Wealthsimple login.
How Can I Begin With Wealthsimple Trade?
Click here to setup a new Wealthsimple Trade account. For a special registration bonus for our readers you will receive the cash value of a stock worth $25 up to $4,500 Canadian once you deposit to your account.
But What if I Still Have Questions Concerning Wealthsimple Group Rrsp?
If this review still hasn’t answered each of your questions, and you’re still browsing for additional facts relating to Wealthsimple Group Rrsp, go to the Wealthsimple site for answers to each your questions.