What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian online Financial, stock plus crypto trading platform that distinguishes itself from the competition by charging absolutely no fees.
A Toronto, Ontario based online financial services company launched in the Autumn 2014 originally as a robo advisor algorithmic trading app called Wealthsimple Invest, it has grown substantially over the past eight years to also feature Wealthsimple Trade, a no fees discount brokerage service.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade allows Canadian investors to trade stand alone stocks and also ETFs without having to pay commissions. The exception to this is when you’re trading stocks and ETFs that are denominated in USD. In that case, they will charge a nominal currency conversion fee both when buying and selling. However, past us are the days of paying Upwards of $7 per trade with discount brokerages as was expected just a couple years ago.
How Much Money Will I Need to Start With Wealthsimple Trade?
Wealthsimple is awesome in that they will allow Canadian investors to make a minimum deposit of just $1. Many alternative banks and brokerages have sizeable initial deposit amounts of $1000-$5,000. This makes it tough for the typical investor to start investing. With Wealthsimple Trade, you won’t need to be wealthy to start trading stocks and ETFs.
But Does Wealthsimple Trade Offer RRSP Accounts?
They do. Wealthsimple Trade has registered and non-registered accounts. One are able to select both RRSP and TFSA account types in the setup phase.
Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade offers a well designed mobile app offered on Apple and Google Play. The app makes the registration steps and the trading of stocks and ETFs simple.
So Is Wealthsimple Trade Safe?
Most definitely. Wealthsimple Trade is secure. Wealthsimple reports in excess of 15 billion Canadian of Assets Under Management (AUM). These folks have been doing business for more than 7 years and currently employs about 600 people. The controlling owner is the admired publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade was the first no-fees digital discount brokerage operating in Canada.
But How Do I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it easy to add money to an account. Simply connect a chequing or savings account to your Trade account, then fund your account in only a couple of steps. Deposits from banks to Wealthsimple typically take just a few days. Funds can also be moved back to a chequing or savings accounts by using the same steps.
What Additional Features and Products Are Available?
Wealthsimple Cash – An equivalent to Interac E-Transfers which allow one to quickly and easily transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for this tax season and submit your tax return online free. It’s pitched as simple, accurate and always totally free income tax filing.
Wealthsimple Spend – A hybrid pre paid visa and savings account that lets you to recieve 1% cashback on your purchases, and also get a competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform that includes a ton of online courses on saving, investments, crypto, home buying and more.
Each of the mentioned features, including Wealthsimple Trade may be accessed within the app or from the site with one login.
How Should I Begin Using 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 stock worth $25 up to $4,500 CAD when you add funds to your account.
What if I Still Have Additional Questions Concerning Wealthsimple Phone Number?
If this review still hasn’t given you the answers to each of your questions, and you’re still browsing for further specific info about Wealthsimple Phone Number, go to the Wealthsimple website to get answers to each your questions.