What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian digital Financial, stocks and crypto trading app that differentiates itself from other apps by charging absolutely no fees.
A leading Canadian online financial services company founded in the Fall 2014 originally as a robo advisor trading app called Wealthsimple Invest, it has changed significantly over the last 8 years to also feature Wealthsimple Trade, a no fees discount brokerage service.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade lets investors trade single stocks and also ETFs without needing to pay commissions. The exception is when trading securities that are displayed in USD currency. In this case, they do charge a currency conversion fee when buying and selling. But, past us are the days of paying $7-12 for each trade with online discount brokerages as was normal only a few years past.
How Much Cash Will I Need in Order to Start With Wealthsimple Trade?
Wealthsimple is special in that they will allow Canadians to make a minimum deposit of only $1. Most alternative banks and brokerages have sizeable initial deposit amounts of $1,000-$5,000. This makes it difficult for the every day new investor to start investing. With Wealthsimple Trade, you don’t need to already be wealthy to start trading stocks and ETFs.
So Does Wealthsimple Trade Offer RRSP Accounts?
Yes. Wealthsimple Trade has registered and non-CRA-registered accounts. One may select between both RRSP and TFSA accounts in the setup wizard.
Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade offers a convenient mobile app offered to download on both IOS and Google Play. The smartphone app makes the registration phase and the trading of stocks and ETFs very painless.
But Is Wealthsimple Trade Legit?
. Wealthsimple Trade is secure. Wealthsimple has more than 15 billion Canadian of Assets Under Management . These folks have been operating for more than 7 years and currently employs more than 600 people. The primary shareholder is the respected public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the first no-fee digital brokerage to operate in Canada.
How Do I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it incredibly straight forward to fund your new account. Just connect a chequing or savings account with your Trade account, and add funds to your account in only a couple of clicks. Deposits from banks to Wealthsimple normally take only a couple of days. Funds can also be withdrawn a chequing or savings account through the exact same method.
What Additional Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – An alternative to e-Transfers which allow you to quickly and easily send cash to friends and family in Canada.
Wealthsimple Tax – Everything you require to get ready for this tax year and submit your taxes online free. It’s pitched as simple, accurate and always free income tax filing.
Wealthsimple Spend – A combination pre paid debit card and savings account which lets one to earn 1% cashback on your everyday spending, as well as earn a competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform that includes a variety of different courses on different topics such as saving, investments, crypto, mortgages and more.
Every one of the mentioned products, including Wealthsimple Trade may be accessed inside the mobile app or on the website with one login.
So How do I Begin With Wealthsimple Trade?
Click here to register for your Wealthsimple Trade account. As an exclusive signup bonus offer to our readers you’ll get the equivalent cash value of a random share worth $25 up to $4,500 CAD when you make an initial deposit to your account.
What if I Still Have Questions About Wealthsimple Investments Inc?
If this blog post hasn’t given you the answers to all of your questions, and you’re browsing for more specific facts about Wealthsimple Investments Inc, check out the Wealthsimple website to find answers to all your questions.