What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian digital investing, stock and crypto trading web app that sets itself apart from the competition by charging no fees.
A leading Canadian online financial services company launched in Fall 2014 exclusively as a robo advisor automated trading platform named Wealthsimple Invest, it has grown significantly over the previous 8 years to feature Wealthsimple Trade, a no fees discount brokerage service.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade allows consumers trade single stocks and also ETFs without needing to pay fees. The exception to this is when trading securities that are denominated in USD currency. In that case, they do charge a currency conversion fee both when buying and selling. However, past us are the times of having to pay more than $7 for each trade with discount brokerages as was the case only a few years past.
Exactly How Much in Funds do I Need to Begin Investing on Wealthsimple Trade?
Wealthsimple is awesome such that they allow Canadians to make a minimum deposit of only $1. Most traditional banks and brokerages have large minimum deposit amounts of 1k-5K. This makes it tough for the common investor to start investing. With Wealthsimple Trade, one doesn’t have to already be wealthy to start trading stocks and ETFs.
Does Wealthsimple Trade Have Registered Accounts?
Of course. Wealthsimple Trade has available CRA registered and non-registered accounts. You can choose between both RRSP and TFSA account types in the setup wizard.
So Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade has a easy to use mobile app that is offered on IOS and also Google Play. The smartphone app makes the enrollment phase and trading of stocks and ETFs painless.
Is Wealthsimple Trade Secure?
Most definitely. Wealthsimple Trade is safe. Wealthsimple boasts over 15 billion CAD of Assets Under Management . These folks have been in business for more than 7 years and also employs roughly 600 people. The majority shareholder is the public Canadian corporation Power Corp of Canada. Weapthsimple Trade is the very first no-fee digital discount brokerage operating in Canada.
How Do I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it incredibly straight forward to add money to an account. Just connect a chequing or savings account to your Trade account, and add money to your account in just a couple of steps. Deposits from banks to Wealthsimple normally take just a few days. Funds can just as easily be moved to a chequing or savings accounts by the exact same method.
What Other Benefits and Products Are Available?
Wealthsimple Cash – This is equivalent to Interac E-transfers that allow you to quickly and simply transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you require to prepare for this tax year and submit your tax return online free. It’s advertised to be easy, accurate and always free tax return filing.
Wealthsimple Spend – A hybrid pre paid debit card and savings product which allows one to get 1% cashback on all your purchases, as well as earn a very competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform which offers a ton of online courses on saving, investing, crypto, home buying and more.
All of the listed features, along with Wealthsimple Trade can be accessed in the mobile app and at the site with a single login.
So How Should I Get Started Using Wealthsimple Trade?
Click here to register for your Wealthsimple Trade account. As an exclusive signup bonus for our readers you’ll receive the equivalent cash value of a random share worth $25 up to $4,500 Canadian as soon as you fund your account.
So What if I Still Have Additional Questions About Wealthsimple Rrsp Calculator?
If this review hasn’t given you the answers to all of your questions, and you’re still browsing for additional specific answers about Wealthsimple Rrsp Calculator, check out the Wealthsimple site for answers to every one of your questions.