What is Wealthsimple?
Wealthsimple is an easy to use Canadian web based investing, securities and crypto trading app that sets itself apart from other apps by charging absolutely no fees.
A leading Canadian online financial services company founded in the Fall of 2014 originally as a robo advisor algorithmic trading app named Wealthsimple Invest, it has grown substantially over the last eight years to include Wealthsimple Trade, a zero fee discount brokerage service.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade lets investors to trade individual stocks and ETFs without needing to pay any commissions. The exception to this is when you’re trading ETFs and stocks which are displayed in USD. In that case, they do charge a nominal currency conversion fee when buying and selling. However, behind us are the times of paying Upwards of $7 per trade with discount brokerages as was the case just a few years past.
Exactly How Much Cash do I Need to Have to Get Started With Wealthsimple Trade?
Wealthsimple is awesome such that they allow Canadian investors to make a minimum deposit of only $1. Most traditional banks and brokerages have quite large min deposit amounts of 1k-$5000. This makes it hard for the normal new investor to start. With Wealthsimple Trade, you don’t need to already be wealthy to begin trading stocks and ETFs.
But Does Wealthsimple Trade Offer RRSP Accounts?
They do. Wealthsimple Trade offers CRA registered and non-registered accounts. You can choose both RRSP and TFSA accounts in the setup phase.
Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade offers a convenient mobile app available to download on both iOS and Google Play. The mobile app makes the enrollment phase and the trading of stocks and ETFs super simple.
Is Wealthsimple Trade Legit?
. Wealthsimple Trade is trustworthy. Wealthsimple has over 15 billion CAD of Assets Under Management (AUM). These folks have been doing business for more than 7 years and employs about 600 folks. The main owner is the large public Canadian corporation Power Corp of Canada. Weapthsimple Trade is the very first no-fees digital discount brokerage operating in Canada.
So How Does One Fund a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it so simple to fund an account. Simply connect to a chequing or savings account with your Trade account, and then add money to your account in just a couple of steps. Deposits from your bank to Wealthsimple usually take just a few days. Funds can also be withdrawn your chequing or savings accounts through the same steps.
Which Additional Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – An equivalent to Interac E-transfers which allows you to quickly and simply send money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to get ready for tax season and file your taxes online for free. It’s described as simple, accurate and always free tax filing.
Wealthsimple Spend – A combination prepaid visa and savings product that allows you to recieve 1% cashback on your purchases, as well as get a competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance platform which includes a variety of online courses on topics like saving, investments, crypto, mortgages and more.
All of the mentioned products, including Wealthsimple Trade can be accessed within the mobile app and from the site with a single login.
How Should I Get Started With Wealthsimple Trade?
Click here to register for your Wealthsimple Trade account. As an exclusive registration bonus to our audience you’ll receive the cash value of a random share worth up to $4,500 CAD when you add funds to your account.
But What if I Still Have Questions Concerning Wealthsimple Invest $75?
If this review still hasn’t answered each of your questions, and you’re still browsing for more facts about Wealthsimple Invest $75, visit the Wealthsimple website to get answers to all your questions.