What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian digital investing, securities plus crypto trading app that differentiates itself from similar apps by charging absolutely no fees.
A Toronto, Ontario based online financial services business launched in the Fall of twenty fourteen exclusively as a robo advisor automated trading platform named Wealthsimple Invest, it has grown substantially over the last 8 years to include Wealthsimple Trade, a zero fee discount brokerage app.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade lets Canadian consumers trade individual stocks and also ETFs without paying commissions. The exception is when trading stocks that are listed in USD. In that case, they will charge a nominal currency conversion fee when buying and selling. But, gone are the days of paying $7-12 per each trade with discount brokerages as was normal a couple years past.
Exactly How Much Cash do I Need to Start With Wealthsimple Trade?
Wealthsimple is cool in that they allow Canadian investors to make a minimum deposit of only $1. Many alternative banks and discount brokerages have large min deposit amounts of 1k-5k. This makes it tough for the everyday new investor to start investing. With Wealthsimple Trade, you won’t have to already be wealthy to begin trading stocks and ETFs.
But Does Wealthsimple Trade Have RRSP Accounts?
Of course. Wealthsimple Trade offers registered and non-CRA-registered account types. You can choose both RRSP and TFSA accounts in the setup phase.
So Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade offers a easy to use mobile app that is available on Apple and also Android. The smartphone app makes the registration process and trading of stocks and ETFs truly painless.
Is Wealthsimple Trade Safe?
Of course. Wealthsimple Trade is trustworthy. Wealthsimple boasts in excess of 15 billion Canadian in Assets Under Management (AUM). they’ve been expanding for more than 7 years and also now employs more than 600 people. The controlling shareholder is the public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the very first no-fee digital discount brokerage to operate in Canada.
But How Can I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it quite simple to add money to a new account. Simply connect a chequing or savings account with your Trade account, then add funds to your account in just a few clicks. Deposits from financial institutions to Wealthsimple typically take a few days. Funds can just as easily be moved back to your chequing or savings accounts through the exact same steps.
Which Other Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An equivalent to Interac e-Transfers that allow you to quickly and efficiently send money to friends and family in Canada.
Wealthsimple Tax – Everything you require to get ready for tax season and submit your tax return online for free. It’s advertised to be simple, accurate and always free tax filing.
Wealthsimple Spend – A combination pre paid visa and savings product which allows you to recieve 1% cashback on all your everyday purchases, and also get a very competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance platform that includes a ton of different courses on different topics such as saving, investing, crypto, home buying and much more.
All of the listed products, including Wealthsimple Trade can be found in the app and on their site with a single login.
But How do I Start With Wealthsimple Trade?
Click here to signup for your Wealthsimple Trade account. As an exclusive signup bonus for our readers you will receive the equivalent cash value of a share worth $25 up to $4,500 CAD when you fund your account.
What if I Still Have Additional Questions Related to Yahoo Finance Wealthsimple?
If this review still hasn’t given you the answers to each of your questions, and you’re searching for additional info about Yahoo Finance Wealthsimple, go to the Wealthsimple site for answers to every one of your questions.