What is Wealthsimple?
Wealthsimple is a simple to use Canadian web based Financial, stock plus crypto trading platform that sets itself apart from its competitors by charging no fees.
A Toronto, Ontario based fintech company launched in Fall twenty fourteen originally as a robo-advisor trading app called Wealthsimple Invest, it has improved significantly over the last 8 years to also feature Wealthsimple Trade, a zero fee discount brokerage app.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade allows consumers to trade both stand alone stocks and ETFs without having to pay commissions. The exception to this is when you’re trading securities that are denominated in US Dollars. In which case, they charge a nominal currency conversion fee when buying and selling. However, behind us are the days of paying Upwards of $7 for each trade with discount brokerages as was expected only a few years past.
How Much in Funds Will I Need in Order to Begin Investing With Wealthsimple Trade?
Wealthsimple is cool in that they allow investors to make a minimum deposit of only $1. Most alternative banks and brokerages have sizeable minimum deposit amounts of $1,000-$5000. This makes it impossible for the everyday new investor to start investing. With Wealthsimple Trade, one doesn’t need to be wealthy to begin trading stocks and ETFs.
So Does Wealthsimple Trade Offer RRSP Accounts?
They do. Wealthsimple Trade has registered and non-registered account types. You can choose between both RRSP and TFSA accounts in the setup process.
Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade offers a convenient mobile app available on IOS and also Android. The smartphone app makes the registration process and also trading of stocks and ETFs incredibly easy.
So Is Wealthsimple Trade Secure?
Yes. Wealthsimple Trade is trustworthy. Wealthsimple boasts over 15 billion CAD in Assets Under Management (AUM). they’ve been operating for more than 7 years and also employs about 600 people. The controlling shareholder is the large public Canadian corporation Power Corp of Canada. Weapthsimple Trade is the first no-fee online discount brokerage to operate in Canada.
But How Can I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it quite simple to fund your new account. Just connect to a chequing or savings account with your Trade account, and then fund your account in simply a couple of steps. Deposits from banks to Wealthsimple typically take a couple of days. Funds can the same way can be moved back to your chequing or savings account using the same steps.
Which Additional Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An alternative to Interac e-transfers which allow anyone to quickly and simply send cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to get ready for tax year and file your tax return online free. It’s pitched as easy, accurate and always free income tax filing.
Wealthsimple Spend – A combination prepaid debit card and savings product that lets one to recieve 1% cashback on all your spending, as well as earn a very competitive 1.5% interest on savings.
Personal Finance 101 – This is 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.
Every one of the mentioned products, along with Wealthsimple Trade can be accessed in the mobile app or on the site with your Wealthsimple login.
But How do I Start Using Wealthsimple Trade?
Click here to setup a Wealthsimple Trade account. As a special registration bonus to our audience you will receive the cash value of a Canadian stock worth up to $4,500 CAD when you make an initial deposit to your account.
So What if I Still Have Additional Questions Concerning Wealthsimple New App?
If this blog post didn’t answered all of your questions, and you’re still looking for additional specific information about Wealthsimple New App, check out the Wealthsimple website for answers to each your questions.