What is Wealthsimple?
Wealthsimple is an easy to use Canadian web based investing, securities plus crypto trading web app that distinguishes itself from similar apps by charging no fees.
A Toronto, Ontario based online financial services business launched in the Autumn 2014 originally as a robo-advisor trading app called Wealthsimple Invest, it has grown considerably over the previous eight years to include Wealthsimple Trade, a zero fees discount brokerage platform.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade lets consumers trade individual stocks and ETFs without paying any commissions. The exception to this is when trading stocks which are denominated in US Dollars. In this case, they do charge a nominal currency conversion fee when buying and selling. However, behind us are the times of having to pay $7-12 per trade with online discount brokerages as was common just a couple years past.
Exactly How Much in Funds Will I Need in Order to Start on Wealthsimple Trade?
Wealthsimple is cool in that they allow Canadian investors to make a minimum deposit of only $1. Many alternative banks and brokerages have large minimum deposit amounts of 1K-$5,000. This makes it hard for the normal investor to start. With Wealthsimple Trade, one doesn’t have to be wealthy to start trading stocks and ETFs.
Does Wealthsimple Trade Have RRSP Accounts?
It does. Wealthsimple Trade offers CRA registered and non-registered accounts. One may select both RRSP and TFSA accounts in the setup wizard.
So Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade offers a convenient mobile app offered to download on iOS and also Android. The app makes the registration steps and also the trading of stocks and ETFs super simple.
Is Wealthsimple Trade Secure?
Of course. Wealthsimple Trade is safe. Wealthsimple has in excess of 15 billion CAD in Assets Under Management . These folks have been expanding for more than 7 years and also employs roughly 600 Canadians. The main shareholder is the large public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the first no-fees online discount brokerage to operate in Canada.
So How Do I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it so simple to fund a new account. Simply connect to a chequing or savings account to your Trade account, and then add funds to your account in only a few clicks. Deposits from banks to Wealthsimple usually take just a few days. Funds can the same way can be withdrawn your chequing or savings account through the exact same steps.
What Additional Features and Products Are Available?
Wealthsimple Cash – This is equivalent to Interac E-Transfers which allow one to quickly and simply send money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for tax year and file your tax return online free. It’s pitched as simple, accurate and always totally free tax filing.
Wealthsimple Spend – A hybrid pre paid visa and savings product which lets you to recieve 1% cashback on all your everyday spending, and also get a competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform which includes a variety of courses on saving, investing, crypto, mortgages and much more.
Each of the listed features, along with Wealthsimple Trade can be accessed inside the mobile app and on the site with one login.
So How do I Begin Using Wealthsimple Trade?
Click here to create a Wealthsimple Trade account. As an exclusive registration bonus for our audience you will receive the cash value of a random Canadian stock valued at $25 up to $4,500 Canadian as soon as you deposit to your account.
But What if I Still Have Questions Related to Wealthsimple Rrsp?
If this article didn’t given you the answers to all of your questions, and you’re looking for further answers relating to Wealthsimple Rrsp, go to the Wealthsimple website to get answers to all your questions.