What is Wealthsimple?
Wealthsimple is a simple to use Canadian online Financial, stocks plus crypto trading platform that differentiates itself from other apps by charging no fees.
A leading Canadian online financial services business launched in the Autumn 2014 originally as a robo advisor trading app named Wealthsimple Invest, it has improved substantially over the past eight years to also feature Wealthsimple Trade, a no fee discount brokerage app.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade lets investors trade single stocks and also ETFs without having to pay fees. The exception to this is when trading ETFs and stocks which are displayed in USD. In that case, they charge a small currency conversion fee both when buying and selling. However, behind us are the times of paying Upwards of $7 for each trade with discount brokerages as was the norm only a few years past.
How Much Money Will I Need to Have to Begin Investing on Wealthsimple Trade?
Wealthsimple is cool such that they allow Canadians to make a minimum deposit of just $1. The majority of alternative banks and brokerages have sizeable minimum deposit amounts of $1,000-$5000. This makes it impossible for the every day investor to get started. With Wealthsimple Trade, one doesn’t need to be wealthy to start trading stocks and ETFs.
So Does Wealthsimple Trade Have RRSP Accounts?
They do. Wealthsimple Trade has available registered and non-registered accounts. You may choose both RRSP and TFSA accounts during the setup wizard.
Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade offers a convenient mobile app available on both IOS and Android. The smartphone app makes the signup phase and also trading of stocks and ETFs incredibly painless.
Is Wealthsimple Trade Secure?
Yes. Wealthsimple Trade is secure. Wealthsimple has more than 15 billion Canadian of Assets Under Management . they’ve been in business for more than 7 years and currently employs over 600 people. The majority shareholder is the respected publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade was the first no-fees digital discount brokerage operating in Canada.
But How Can I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it very simple to deposit to your account. Simply connect a chequing or savings account with your Trade account, then add money to your account in simply a few steps. Deposits from financial institutions to Wealthsimple normally take just a couple of days. Funds can the same way can be moved back to your chequing or savings accounts by using the same method.
Which Other Features and Products Are Available?
Wealthsimple Cash – This is equivalent to E-transfers that allow one to quickly and easily send money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to prepare for tax year and submit your taxes online for free. It’s advertised to be simple, accurate and always totally free income tax filing.
Wealthsimple Spend – A combination prepaid debit card and savings product which allows one to earn 1% cashback on all your everyday purchases, as well as get a very competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform which offers a bunch of courses on topics like saving, investments, crypto, real estate and more.
Each of the mentioned products, along with Wealthsimple Trade may be accessed on the mobile app or on the site with one login.
How do I Get Started With Wealthsimple Trade?
Click here to create a Wealthsimple Trade account. For an exclusive registration bonus to our audience you will get the equivalent cash value of a stock valued at up to $4,500 CAD when you fund your account.
What if I Still Have Additional Questions Concerning Why Use Wealthsimple?
If this review didn’t answered all of your questions, and you’re still looking for further specific answers relating to Why Use Wealthsimple, check out the Wealthsimple website to get answers to each your questions.