What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian digital Financial, stocks and crypto trading app that sets itself apart from the competition by charging no fees.
A Toronto, Ontario based fintech company founded in the Fall of twenty fourteen exclusively as a robo-advisor algorithmic trading platform called Wealthsimple Invest, it has changed significantly over the past 8 years to feature Wealthsimple Trade, a zero fee discount brokerage service.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade lets investors trade stand alone stocks and ETFs without needing to pay any fees. The exception to this is when trading ETFs and stocks that are denominated in USD currency. In which case, they charge a currency conversion fee both when buying and selling. But, gone are the times of paying more than $7 per trade with digital discount brokerages as was common just a couple years ago.
How Much Money Will I Need to Have in Order to Start With Wealthsimple Trade?
Wealthsimple is special in that they allow Canadian investors to make a minimum deposit of just $1. Most alternative banks and discount brokerages have sizeable min deposit amounts of 1k-$5000. This makes it impossible for the normal investor to start. With Wealthsimple Trade, you won’t need to be wealthy to get started with trading stocks and ETFs.
So Does Wealthsimple Trade Have RRSP Accounts?
They do. Wealthsimple Trade offers registered and non-CRA-registered accounts. You are free to select between both RRSP and TFSA accounts during the setup phase.
Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade has a modern mobile app offered on both IOS and Android. The smartphone app makes the registration process and trading of stocks and ETFs easy.
Is Wealthsimple Trade Secure?
. Wealthsimple Trade is safe. Wealthsimple boasts over 15 billion Canadian in Assets Under Management (AUM). They have been in business for more than 7 years and also currently employs more than 600 folks. The controlling owner is the admired public Canadian entity Power Corp of Canada. Weapthsimple Trade is the first no-fee digital brokerage operating in Canada.
But How Can I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it incredibly easy to deposit to a new account. Just connect the app to a chequing or savings account to your Trade account, then fund your account in just a couple of clicks. Deposits from your bank to Wealthsimple normally take only a few days. Funds can also be moved back to your chequing or savings account by the exact same steps.
What Other Benefits and Products Are Available?
Wealthsimple Cash – This is equivalent to Interac e-transfers that allow anyone to quickly and efficiently transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for tax season and file your tax return online free. It’s advertised to be easy, accurate and always free tax return filing.
Wealthsimple Spend – A hybrid prepaid visa and savings account that allows one to earn 1% cashback on all your everyday purchases, and also earn a very competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform which offers a variety of online courses on different topics such as saving, investments, crypto, mortgages and much more.
Every one of the mentioned products, including Wealthsimple Trade may be accessed within the mobile app and from the site with one login.
But How Should I Start Using Wealthsimple Trade?
Click here to create a new Wealthsimple Trade account. As an exclusive signup bonus to our readers you’ll receive the equivalent cash value of a random stock worth $25 up to $4,500 CAD when you fund your account.
So What if I Still Have Additional Questions About Wealthsimple Support Phone?
If this article still hasn’t given you the answers to each of your questions, and you’re still browsing for further answers relating to Wealthsimple Support Phone, go to the Wealthsimple website to get answers to every one of your questions.