What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian online Financial, securities and crypto trading app that differentiates itself from its competitors by charging absolutely no fees.
A Toronto, Ontario based fintech business founded in the Autumn of twenty fourteen exclusively as a robo advisor algorithmic automated trading app named Wealthsimple Invest, it has evolved significantly over the past 8 years to also include Wealthsimple Trade, a no fee discount brokerage platform.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade allows Canadian consumers to trade stand alone stocks and also ETFs without paying any fees. The exception is when trading stocks and ETFs which are displayed in US Dollars. In that case, they will charge a nominal currency conversion fee when buying and selling. However, behind us are the days of having to pay Upwards of $7 per trade with online discount brokerages as was expected only a couple years ago.
Exactly How Much Cash do I Need to Begin Investing With Wealthsimple Trade?
Wealthsimple is special such that they will allow new customers to make a minimum deposit of only $1. Many traditional banks and discount brokerages have quite large minimum deposit amounts of 1K-$5,000. This makes it difficult for the every day new investor to get started. With Wealthsimple Trade, you won’t need to already be wealthy to begin trading stocks and ETFs.
But Does Wealthsimple Trade Have RRSP Accounts?
They do. Wealthsimple Trade has both CRA registered and non-registered accounts. You are able to select both RRSP and TFSA account types during the setup process.
So Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade offers a easy to use mobile app available on IOS and also Google Play. The smartphone app makes the enrollment process and also trading of stocks and ETFs incredibly a breeze.
But Is Wealthsimple Trade Secure?
Definitely. Wealthsimple Trade is legit. Wealthsimple has over 15 billion CAD in Assets Under Management . This company has been doing business for more than 7 years and right now employs roughly 600 folks. The primary owner is the admired publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade is the first no-fee online discount brokerage operating in Canada.
But How Can I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it very straight forward to deposit to your new account. Just connect to a chequing or savings account with your Trade account, then fund your account in just a couple of clicks. Deposits from banks to Wealthsimple usually take just a couple of days. Funds can the same way can be moved to a chequing or savings accounts using the exact same steps.
Which Other Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is alternative to e-Transfers which allows one to quickly and simply send cash to friends and family in Canada.
Wealthsimple Tax – Everything you require to get ready for tax year and file your tax return online for free. It’s pitched to be simple, accurate and always totally free tax return filing.
Wealthsimple Spend – A combination pre paid visa and savings account which lets one to recieve 1% cashback on your purchases, and also get a competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform which includes a variety of different courses on topics like saving, investments, crypto, real estate and more.
All of the above features, including Wealthsimple Trade can be found on the mobile app and on their website with your Wealthsimple login.
So How do I Start With Wealthsimple Trade?
Click here to register for a new Wealthsimple Trade account. For an exclusive signup bonus offer to our audience you’ll get the cash value of a share valued at up to $4,500 Canadian when you make an initial deposit to your account.
What if I Still Have Questions About Youtube Wealthsimple Trade?
If this blog post still hasn’t given you the answers to each of your questions, and you’re looking for further specific facts about Youtube Wealthsimple Trade, visit the Wealthsimple website to get answers to all your questions.