What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian web based Financial, securities and crypto trading app that distinguishes itself from similar apps by charging no fees.
A Toronto, Ontario based fintech company founded in the Fall of twenty fourteen originally as a robo advisor automated trading platform called Wealthsimple Invest, it has evolved considerably over the previous 8 years to also include Wealthsimple Trade, a zero fee discount brokerage service.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade allows Canadian investors to trade stand alone stocks and ETFs without having to pay fees. The exception to this is when trading stocks which are displayed in USD currency. In which case, they will charge a currency conversion fee both when buying and selling. But, behind us are the times of having to pay $7-12 for each trade with digital discount brokerages as was normal just a couple years past.
Exactly How Much Cash do I Need to Start Investing on Wealthsimple Trade?
Wealthsimple is awesome in that they will allow Canadians to make a minimum deposit of just $1. Most alternative banks and brokerages have sizeable min deposit amounts of $1000-$5,000. This makes it difficult for the everyday investor to start. With Wealthsimple Trade, one doesn’t have to already be wealthy to start trading stocks and ETFs.
So Does Wealthsimple Trade Have RRSP Accounts?
Yes. Wealthsimple Trade has both registered and non-CRA-registered account types. One may choose between both RRSP and TFSA accounts in the setup process.
But Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade has a convenient mobile app offered to download on both Apple and also Google Play. The mobile app makes the enrollment process and trading of stocks and ETFs easy.
So Is Wealthsimple Trade Trustworthy?
Of course. Wealthsimple Trade is safe. Wealthsimple has more than 15 billion Canadian in Assets Under Management (AUM). These folks have been expanding for more than 7 years and right now employs over 600 Canadians. The main owner is the publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade is the very first no-fees digital discount brokerage operating in Canada.
But How Can I Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it incredibly easy to add money to your account. Just connect a chequing or savings account to your Trade account, then fund your account in just a couple of clicks. Deposits from financial institutions to Wealthsimple typically take just a few days. Funds can just as easily be moved back to your chequing or savings accounts by using the same steps.
Which Additional Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is alternative to Interac e-Transfers which allows one to quickly and easily transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you need to prepare for this tax year and file your tax return online free. It’s pitched as easy, accurate and always totally free tax filing.
Wealthsimple Spend – A hybrid prepaid visa and savings product which lets you to recieve 1% cashback on all your everyday spending, as well as get a competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform which includes a ton of different courses on topics like saving, investments, crypto, home buying and much more.
Every one of the mentioned products, along with Wealthsimple Trade can be accessed on the app and at their site with a single login.
So How Can I Begin Using Wealthsimple Trade?
Click here to setup a Wealthsimple Trade account. For an exclusive registration bonus for our audience you will get the equivalent cash value of a Canadian stock worth up to $4,500 CAD as soon as you add funds to your account.
But What if I Still Have Additional Questions Related to Wealthsimple New York?
If this review still hasn’t given you the answers to all of your questions, and you’re searching for additional specific information relating to Wealthsimple New York, go to the Wealthsimple site for answers to each your questions.