What is Wealthsimple?
Wealthsimple is a simple to use Canadian digital Financial, securities and crypto trading app that distinguishes itself from its competitors by charging absolutely no fees.
A leading Canadian online financial services company launched in Fall of 2014 exclusively as a robo-advisor trading platform named Wealthsimple Invest, it has improved considerably over the last 8 years to also include Wealthsimple Trade, a no fee discount brokerage platform.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade lets Canadian consumers to trade both single stocks and ETFs without having to pay any fees. The exception to this is when you’re trading stocks which are denominated in US Dollars. In that case, they charge a small currency conversion fee when buying and selling. But, gone are the days of having to pay Upwards of $7 per each trade with digital discount brokerages as was common just a few years past.
Exactly How Much Cash Will I Need to Have in Order to Get Started on Wealthsimple Trade?
Wealthsimple is cool such that they will allow Canadians to make a minimum deposit of just $1. Most alternative banks and discount brokerages have sizeable min deposit amounts of 1K-$5,000. This makes it hard for the normal new investor to start investing. With Wealthsimple Trade, you won’t have to be wealthy to start trading stocks and ETFs.
But Does Wealthsimple Trade Offer RRSP Accounts?
They do. Wealthsimple Trade has available both CRA registered and non-registered accounts. You may select between both RRSP and TFSA accounts in the setup wizard.
But Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade has a modern mobile app that is offered on iOS and also Android. The smartphone app makes the registration steps and the trading of stocks and ETFs super simple.
So Is Wealthsimple Trade Trustworthy?
For sure. Wealthsimple Trade is safe. Wealthsimple has in excess of 15 billion Canadian in Assets Under Management (AUM). they’ve been in business for more than 7 years and right now employs about 600 people. The primary shareholder is the admired public Canadian company Power Corp of Canada. Weapthsimple Trade was the first no-fees digital brokerage operating in Canada.
How Does One Fund a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it so simple to add money to your new account. Simply connect a chequing or savings account to your Trade account, and add money to your account in just a couple of clicks. Deposits from financial institutions to Wealthsimple usually take just a few days. Funds can just as easily be withdrawn your chequing or savings accounts by using the same method.
Which Additional Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An alternative to e-transfers which allow anyone to quickly and simply send cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to prepare for this tax year and file your tax return online for free. It’s described as simple, accurate and always totally free tax filing.
Wealthsimple Spend – A combination prepaid debit card and savings product which allows you to earn 1% cashback on all your everyday spending, as well as earn a competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform that includes a bunch of different courses on different topics such as saving, investments, crypto, mortgages and more.
All of the mentioned products, including Wealthsimple Trade may be accessed inside the app and at their site with your Wealthsimple login.
So How do I Begin Using Wealthsimple Trade?
Click here to register for a new Wealthsimple Trade account. For a special signup bonus offer for our readers you’ll get the cash value of a random Canadian stock worth up to $4,500 CAD when you deposit to your account.
But What if I Still Have Additional Questions Concerning Wealthsimple Zoominfo?
If this blog post hasn’t answered all of your questions, and you’re browsing for more facts relating to Wealthsimple Zoominfo, visit the Wealthsimple site for answers to all your questions.