What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian web based investing, stock and crypto trading web app that distinguishes itself from its competitors by charging absolutely no fees.
A online financial services business launched in the Fall 2014 originally as a robo advisor trading platform named Wealthsimple Invest, it has grown considerably over the last eight years to include Wealthsimple Trade, a no fee discount brokerage app.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade lets investors to trade both single stocks and ETFs without needing to pay commissions. The exception is when trading stocks that are listed in USD currency. In that case, they charge a currency conversion fee when buying and selling. However, past us are the times of paying $7-12 for each trade with online discount brokerages as was normal only a couple years ago.
Exactly How Much in Funds Will I Need to Have to Begin Investing With Wealthsimple Trade?
Wealthsimple is awesome such that they allow Canadians to make a minimum deposit of just $1. Many alternative banks and brokerages have sizeable minimum deposit amounts of $1000-$5000. This makes it difficult for the typical investor to start. With Wealthsimple Trade, you won’t have to be wealthy to start trading stocks and ETFs.
So Does Wealthsimple Trade Offer RRSP Accounts?
It does. Wealthsimple Trade has both CRA registered and non-registered accounts. You are free to select both RRSP and TFSA accounts in the setup wizard.
So Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade has a well designed mobile app that is available on iOS and Android. The smartphone app makes the enrollment process and also the trading of stocks and ETFs incredibly a breeze.
So Is Wealthsimple Trade Safe?
Of course. Wealthsimple Trade is secure. Wealthsimple has over 15 billion CAD in Assets Under Management (AUM). They have been operating for more than 7 years and also employs about 600 people. The controlling shareholder is the respected public Canadian corporation Power Corp of Canada. Weapthsimple Trade was the very first no-fee digital brokerage to operate in Canada.
How Can I Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it quite simple to fund an account. Simply connect the app to a chequing or savings account to your Trade account, and add money to your account in only a few clicks. Deposits from your bank to Wealthsimple typically take a few days. Funds can just as easily be moved back to your chequing or savings account by the exact same process.
What Additional Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is alternative to Interac E-transfers which allow one to quickly and easily transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to prepare for tax season and submit your tax return online for free. It’s advertised to be simple, accurate and always totally free tax return filing.
Wealthsimple Spend – A hybrid prepaid debit card and savings account that allows you to get 1% cashback on your everyday purchases, and also earn a competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance platform that includes a bunch of courses on different topics such as saving, investments, crypto, home buying and more.
All of the mentioned features, including Wealthsimple Trade can be found on the mobile app or at the site with your Wealthsimple login.
But How Should I Begin With Wealthsimple Trade?
Click here to create a Wealthsimple Trade account. As a special signup bonus offer for our audience you will receive the cash value of a share valued at $25 up to $4,500 CAD as soon as you deposit to your account.
So What if I Still Have Questions Concerning Wealthsimple Options?
If this blog post hasn’t answered each of your questions, and you’re looking for additional specific info relating to Wealthsimple Options, visit the Wealthsimple website to get answers to all your questions.