What is Wealthsimple?
Wealthsimple is a simple to use Canadian online Financial, securities plus crypto trading platform that differentiates itself from similar apps by charging no fees.
A leading Canadian online financial services company launched in Fall of 2014 exclusively as a robo advisor algorithmic automated trading platform called Wealthsimple Invest, it has grown substantially over the past eight years to feature Wealthsimple Trade, a zero fees discount brokerage app.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade lets investors trade both individual stocks and also ETFs without having to pay any commissions. The exception is when trading stocks and ETFs which are listed in USD. In this case, they will charge a small currency conversion fee both when buying and selling. However, past us are the days of having to pay $7-12 per each trade with digital discount brokerages as was common only a couple years past.
How Much Cash do I Need to Begin Investing With Wealthsimple Trade?
Wealthsimple is special in that they will allow Canadians to make a minimum deposit of just $1. The majority of alternative banks and discount brokerages have large minimum deposit amounts of $1000-5k. This makes it hard for the common new investor to start investing. With Wealthsimple Trade, you won’t need to be wealthy to get started with trading stocks and ETFs.
Does Wealthsimple Trade Offer RRSP Accounts?
It does. Wealthsimple Trade has both registered and non-CRA-registered accounts. One are free to select between both RRSP and TFSA accounts in the setup phase.
But Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade offers a well designed mobile app offered to download on IOS and Google Play. The smartphone app makes the enrollment phase and also the trading of stocks and ETFs super painless.
But Is Wealthsimple Trade Safe?
Most definitely. Wealthsimple Trade is legit. Wealthsimple has in excess of 15 billion CAD in Assets Under Management (AUM). This company has been doing business for more than 7 years and also at this time employs about 600 people. The controlling shareholder is the publicly traded Canadian entity Power Corp of Canada. Weapthsimple Trade is the first no-fee online brokerage operating in Canada.
How Do I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it so simple to fund an account. Just connect the app to a chequing or savings account to your Trade account, and then fund your account in only a couple of steps. Deposits from your bank to Wealthsimple typically take only a few days. Funds can the same way can be moved back to your chequing or savings account by using the exact same method.
Which Other Benefits and Products Are Available?
Wealthsimple Cash – An equivalent to Interac E-Transfers that allows you to quickly and simply send cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to get ready for tax season and submit your taxes online for free. It’s described to be easy, accurate and always free tax filing.
Wealthsimple Spend – A combination prepaid visa and savings product which lets one to earn 1% cashback on all your purchases, and also earn a competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform which includes a variety of online courses on different topics such as saving, investments, crypto, home buying and more.
Every one of the mentioned features, along with Wealthsimple Trade can be accessed inside the app and at the website with your Wealthsimple login.
But How do I Begin With Wealthsimple Trade?
Click here to create a new Wealthsimple Trade account. As an exclusive registration bonus offer for our audience you will receive the equivalent cash value of a stock worth up to $4,500 CAD when you add funds to your account.
But What if I Still Have Questions About Wealthsimple Uk?
If this review hasn’t given you the answers to all of your questions, and you’re searching for further specific answers relating to Wealthsimple Uk, go to the Wealthsimple website to get answers to each your questions.