What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian digital Financial, securities and crypto trading web app that distinguishes itself from its competitors by charging absolutely no fees.
A leading Canadian fintech company launched in Autumn twenty fourteen originally as a robo advisor algorithmic automated trading platform called Wealthsimple Invest, it has improved significantly over the past 8 years to also include Wealthsimple Trade, a zero fees discount brokerage service.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade lets Canadian consumers to trade both single stocks and ETFs without needing to pay any fees. The exception is when you’re trading stocks that are denominated in USD currency. In this case, they charge a small currency conversion fee when buying and selling. However, gone are the days of paying $7-12 per trade with digital discount brokerages as was the case just a couple years ago.
Exactly How Much in Funds do I Need to Have in Order to Get Started on Wealthsimple Trade?
Wealthsimple is unique in that they allow investors to make a minimum deposit of just $1. Many alternative banks and discount brokerages have quite large initial deposit amounts of $1000-$5,000. This makes it difficult for the typical investor to start investing. With Wealthsimple Trade, you don’t need to be wealthy to get started with trading stocks and ETFs.
So Does Wealthsimple Trade Offer RRSP Accounts?
Of course. Wealthsimple Trade has both CRA registered and non-CRA-registered account types. One are free to select between both RRSP and TFSA account types in the setup wizard.
So Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade offers a easy to use mobile app that is available on iOS and also Google Play. The smartphone app makes the registration steps and also trading of stocks and ETFs incredibly easy.
Is Wealthsimple Trade Safe?
. Wealthsimple Trade is legit. Wealthsimple has more than 15 billion Canadian in Assets Under Management . This company has been in business for more than 7 years and also employs roughly 600 Canadians. The main shareholder is the publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the very first no-fee digital brokerage to operate in Canada.
So How Does One Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it quite simple to add funds to a new account. Just connect the app to a chequing or savings account with your Trade account, and then add funds to your account in simply a few clicks. Deposits from financial institutions to Wealthsimple usually take just a few days. Funds can also be withdrawn your chequing or savings accounts through the same method.
Which Other Benefits and Products Are Available?
Wealthsimple Cash – An alternative to e-transfers that allow you to quickly and efficiently send cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for tax year and file your tax return online for free. It’s advertised to be simple, accurate and always totally free tax return filing.
Wealthsimple Spend – A combination pre paid visa and savings account that allows one to get 1% cashback on all your everyday spending, as well as earn a competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform that offers a ton of different online courses on different topics such as saving, investments, crypto, home buying and much more.
Every one of the mentioned products, including Wealthsimple Trade can be found in the mobile app or from the site with your Wealthsimple login.
But How Can I Start Using Wealthsimple Trade?
Click here to register for a new Wealthsimple Trade account. For an exclusive registration bonus offer to our readers you’ll get the cash value of a stock worth $25 up to $4,500 CAD as soon as you deposit to your account.
So What if I Still Have Questions Concerning Wealthsimple Withdrawal?
If this article still hasn’t answered all of your questions, and you’re browsing for more specific info relating to Wealthsimple Withdrawal, visit the Wealthsimple website to get answers to every one of your questions.