What is Wealthsimple?
Wealthsimple is a simple to use Canadian web based Financial, stock and crypto trading platform that sets itself apart from similar apps by charging no fees.
A Toronto, Ontario based fintech business founded in the Autumn of 2014 exclusively as a robo advisor trading app named Wealthsimple Invest, it has grown substantially over the past 8 years to also include Wealthsimple Trade, a no fees discount brokerage app.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade allows Canadian investors trade both single stocks and ETFs without paying any commissions. The exception to this is when you’re trading ETFs and stocks that are displayed in USD currency. In this case, they charge a nominal currency conversion fee when buying and selling. However, gone are the times of having to pay $7-12 per trade with digital discount brokerages as was the case just a few years past.
Exactly How Much Money do I Need to Have in Order to Get Started With Wealthsimple Trade?
Wealthsimple is special in that they allow investors to make a minimum deposit of only $1. The majority of traditional banks and discount brokerages have sizeable min deposit amounts of $1000-5K. This makes it hard for the normal new investor to start investing. With Wealthsimple Trade, you won’t need to already be wealthy to get started with trading stocks and ETFs.
So Does Wealthsimple Trade Offer RRSP Accounts?
Of course. Wealthsimple Trade has available registered and non-registered accounts. One are free to select between both RRSP and TFSA account types in the setup process.
But Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade has a easy to use mobile app that is offered to download on IOS and Android. The mobile app makes the signup phase and the trading of stocks and ETFs super painless.
So Is Wealthsimple Trade Secure?
Definitely. Wealthsimple Trade is trustworthy. Wealthsimple reports more than 15 billion Canadian in Assets Under Management (AUM). These folks have been in business for more than 7 years and also employs roughly 600 folks. The majority owner is the respected publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade is the first no-fee online discount brokerage operating in Canada.
So How Does One Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it quite straight forward to add money to your new account. Just connect to a chequing or savings account with your Trade account, and fund your account in just a couple of clicks. Deposits from financial institutions to Wealthsimple usually take only a few days. Funds can also be moved to a chequing or savings accounts by the same steps.
What Other Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is alternative to Interac e-Transfers that allows you to quickly and simply send cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to get ready for this tax year and submit your tax return online for free. It’s pitched to be easy, accurate and always free tax filing.
Wealthsimple Spend – A combination pre paid debit card and savings account which allows one to recieve 1% cashback on your purchases, as well as get a competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform that offers a variety of different courses on topics like saving, investing, crypto, home buying and more.
All of the listed products, including Wealthsimple Trade can be found inside the app and from their site with a single login.
So How do I Start With Wealthsimple Trade?
Click here to register for a Wealthsimple Trade account. For a special registration bonus offer to our readers you will get the cash value of a stock worth up to $4,500 Canadian when you deposit to your account.
What if I Still Have Questions Related to Wealthsimple Valuation 2022?
If this review still hasn’t given you the answers to all of your questions, and you’re still searching for additional info relating to Wealthsimple Valuation 2022, go to the Wealthsimple site to get answers to all your questions.