What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian online investing, securities and crypto trading platform that distinguishes itself from its competitors by charging no fees.
A Toronto, Ontario based online financial services company founded in Fall 2014 originally as a robo-advisor trading platform called Wealthsimple Invest, it has grown considerably over the last 8 years to include Wealthsimple Trade, a no fee discount brokerage platform.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade allows consumers to trade both individual stocks and also ETFs without paying fees. The exception is when trading stocks that are listed in USD. In which case, they will charge a currency conversion fee when buying and selling. However, past us are the days of having to pay Upwards of $7 per each trade with online discount brokerages as was normal a couple years past.
Exactly How Much in Funds do I Need to Have in Order to Start Investing With Wealthsimple Trade?
Wealthsimple is special such that they will allow Canadian investors to make a minimum deposit of just $1. Most alternative banks and brokerages have quite large min deposit amounts of 1K-5k. This makes it difficult for the every day new investor to start investing. With Wealthsimple Trade, you don’t have to be wealthy to get started with trading stocks and ETFs.
So Does Wealthsimple Trade Offer RRSP Accounts?
Of course. Wealthsimple Trade has available both registered and non-CRA-registered accounts. One are able to choose both RRSP and TFSA account types during the setup wizard.
But Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade offers a modern mobile app offered to download on both Apple and Android. The mobile app makes the signup steps and also trading of stocks and ETFs super easy.
Is Wealthsimple Trade Secure?
Definitely. Wealthsimple Trade is safe. Wealthsimple reports more than 15 billion Canadian in Assets Under Management . This company has been expanding for more than 7 years and also employs roughly 600 folks. The majority shareholder is the public Canadian entity Power Corp of Canada. Weapthsimple Trade was the very first no-fees online brokerage operating in Canada.
But How Can I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it very simple to fund an account. Simply connect to a chequing or savings account with your Trade account, and then add funds to your account in simply a few clicks. Deposits from your bank to Wealthsimple usually take just a couple of days. Funds can also be moved to a chequing or savings account through the same steps.
Which Additional Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is equivalent to Interac E-Transfers that allows one to quickly and easily send money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to get ready for tax year and submit your tax return online free. It’s pitched to be easy, accurate and always free tax filing.
Wealthsimple Spend – A hybrid prepaid debit card and savings product which allows you to earn 1% cashback on all your spending, as well as get a competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform that includes a bunch of online courses on topics like saving, investments, crypto, real estate and much more.
Every one of the mentioned products, including Wealthsimple Trade can be found inside the app or on the website with a single login.
But How do I Start Using Wealthsimple Trade?
Click here to setup your Wealthsimple Trade account. For an exclusive registration bonus offer to our readers you will receive the equivalent cash value of a share valued at up to $4,500 Canadian as soon as you make an initial deposit to your account.
But What if I Still Have Additional Questions Related to Wealthsimple United States?
If this review hasn’t answered each of your questions, and you’re still searching for further specific facts about Wealthsimple United States, check out the Wealthsimple website for answers to every one of your questions.