What is Wealthsimple?
Wealthsimple is an easy to use Canadian online investing, stock plus crypto trading web app that differentiates itself from similar apps by charging absolutely no fees.
A online financial services business launched in the Fall twenty fourteen exclusively as a robo advisor trading app named Wealthsimple Invest, it has evolved substantially over the previous eight years to include Wealthsimple Trade, a zero fee discount brokerage service.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade allows Canadian consumers to trade stand alone stocks and ETFs without needing to pay any fees. The exception to this is when trading stocks which are denominated in USD currency. In this case, they charge a nominal currency conversion fee when buying and selling. However, gone are the times of having to pay Upwards of $7 per trade with discount brokerages as was common a couple years ago.
Exactly How Much Cash Will I Need to Have to Begin Investing on Wealthsimple Trade?
Wealthsimple is unique such that they allow investors to make a minimum deposit of only $1. Most traditional banks and brokerages have quite large initial deposit amounts of $1000-5k. This makes it hard for the normal new investor to start. With Wealthsimple Trade, one doesn’t have to already be wealthy to start trading stocks and ETFs.
So Does Wealthsimple Trade Offer RRSP Accounts?
Yes. Wealthsimple Trade has both registered and non-registered account types. One are free to choose both RRSP and TFSA accounts during the setup wizard.
Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade offers a well designed mobile app available on both Apple and Android. The mobile app makes the registration phase and also the trading of stocks and ETFs incredibly easy.
So Is Wealthsimple Trade Legit?
Yes. Wealthsimple Trade is trustworthy. Wealthsimple boasts more than 15 billion Canadian in Assets Under Management (AUM). This company has been operating for more than 7 years and at this time employs about 600 people. The primary shareholder is the respected public Canadian corporation Power Corp of Canada. Weapthsimple Trade is the very first no-fee digital brokerage operating in Canada.
How Can I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it straight forward to deposit to a new account. Just connect to a chequing or savings account to your Trade account, then add money to your account in just a couple of clicks. Deposits from your bank to Wealthsimple usually take just a couple of days. Funds can just as easily be withdrawn your chequing or savings account by the exact same method.
Which Additional Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – An equivalent to E-Transfers that allows anyone to quickly and simply transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you need to get ready for tax year and file your tax return online free. It’s pitched as simple, accurate and always totally free tax return filing.
Wealthsimple Spend – A combination pre paid visa and savings account that allows one to earn 1% cashback on your everyday purchases, and also earn a competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform which offers a ton of courses on different topics such as saving, investments, crypto, home buying and more.
All of the listed products, along with Wealthsimple Trade may be accessed in the mobile app or from the website with one login.
How Should I Start Using Wealthsimple Trade?
Click here to create a new Wealthsimple Trade account. As an exclusive signup bonus offer to our audience you will receive the equivalent cash value of a share valued at $25 up to $4,500 Canadian when you make an initial deposit to your account.
But What if I Still Have Additional Questions Related to Wealthsimple Retirement Calculator?
If this article still hasn’t answered each of your questions, and you’re still looking for additional specific answers about Wealthsimple Retirement Calculator, check out the Wealthsimple site for answers to each your questions.