What is Wealthsimple?
Wealthsimple is an easy to use Canadian online investing, stock and crypto trading app that differentiates itself from the competition by charging absolutely no fees.
A Toronto, Ontario based fintech business founded in Autumn twenty fourteen originally as a robo-advisor automated trading platform named Wealthsimple Invest, it has grown substantially over the past eight years to feature Wealthsimple Trade, a zero fee discount brokerage platform.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade allows investors to trade single stocks and also ETFs without needing to pay fees. The exception is when you’re trading stocks and ETFs that are displayed in USD currency. In which case, they charge a small currency conversion fee when buying and selling. However, gone are the times of having to pay Upwards of $7 per trade with digital discount brokerages as was common just a couple years ago.
How Much Money Will I Need in Order to Start on Wealthsimple Trade?
Wealthsimple is unique in that they will allow new customers to make a minimum deposit of only $1. Most alternative banks and brokerages have quite large min deposit amounts of 1K-5K. This makes it hard for the common new investor to start. With Wealthsimple Trade, one doesn’t have to be wealthy to get started with trading stocks and ETFs.
So Does Wealthsimple Trade Have RRSP Accounts?
They do. Wealthsimple Trade offers both registered and non-registered account types. One may select between both RRSP and TFSA account types during the setup process.
Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade offers a convenient mobile app that is available to download on IOS and also Google Play. The app makes the enrollment steps and also trading of stocks and ETFs super a breeze.
So Is Wealthsimple Trade Secure?
Definitely. Wealthsimple Trade is secure. Wealthsimple reports more than 15 billion Canadian of Assets Under Management (AUM). This company has been operating for more than 7 years and also employs more than 600 people. The primary shareholder is the admired public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the very first no-fee digital brokerage operating in Canada.
How Can I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it simple to deposit to your new account. Just connect to a chequing or savings account to your Trade account, and then fund your account in simply a couple of steps. Deposits from financial institutions to Wealthsimple normally take just a couple of days. Funds can just as easily be withdrawn a chequing or savings account with the exact same process.
Which Additional Features and Products Are Available?
Wealthsimple Cash – This is alternative to Interac E-Transfers that allow anyone to quickly and simply transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to prepare for tax year and submit your taxes online free. It’s pitched as easy, accurate and always totally free tax filing.
Wealthsimple Spend – A hybrid prepaid visa and savings account which lets one to get 1% cashback on your purchases, as well as earn a competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform which offers a ton of different courses on topics like saving, investing, crypto, mortgages and much more.
All of the listed features, along with Wealthsimple Trade can be found within the app and at the site with your Wealthsimple login.
How do I Get Started With Wealthsimple Trade?
Click here to setup your Wealthsimple Trade account. For a special signup bonus to our audience you will get the cash value of a random share worth up to $4,500 CAD once you add funds to your account.
But What if I Still Have Additional Questions About Binance Vs Wealthsimple?
If this blog post still hasn’t given you the answers to each of your questions, and you’re looking for more specific information relating to Wealthsimple Review Daily, check out the Wealthsimple website for answers to all your questions.