What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian online investing, securities and crypto trading app that differentiates itself from the competition by charging no fees.
A online financial services company founded in Autumn twenty fourteen exclusively as a robo advisor automated trading platform called Wealthsimple Invest, it has grown substantially over the previous eight years to also include Wealthsimple Trade, a zero fee discount brokerage platform.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade lets Canadian consumers to trade stand alone stocks and ETFs without having to pay any commissions. The exception to this is when you’re trading stocks that are denominated in USD currency. In this case, they charge a currency conversion fee both when buying and selling. However, behind us are the days of having to pay $7-12 per each trade with discount brokerages as was expected only a couple years ago.
How Much in Funds Will I Need to Have to Start Investing on Wealthsimple Trade?
Wealthsimple is awesome in that they will allow Canadians to make a minimum deposit of only $1. Many alternative banks and brokerages have quite large minimum deposit amounts of 1k-$5000. This makes it difficult for the everyday investor to get started. With Wealthsimple Trade, you won’t have to already be wealthy to start trading stocks and ETFs.
But Does Wealthsimple Trade Offer RRSP Accounts?
They do. Wealthsimple Trade offers both registered and non-registered account types. One can select between both RRSP and TFSA accounts in the setup wizard.
Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade offers a modern mobile app available on Apple and Android. The mobile app makes the signup process and also trading of stocks and ETFs very painless.
But Is Wealthsimple Trade Secure?
Yes. Wealthsimple Trade is legit. Wealthsimple boasts over 15 billion Canadian in Assets Under Management . they’ve been operating for more than 7 years and also at this time employs over 600 Canadians. The main shareholder is the respected publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade was the very first no-fee online discount brokerage operating in Canada.
But How Do I Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it very easy to deposit to your new account. Simply connect a chequing or savings account with your Trade account, and then add money to your account in simply a few clicks. Deposits from banks to Wealthsimple usually take a couple of days. Funds can also be moved back to your chequing or savings account with the exact same process.
What Additional Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is alternative to Interac e-transfers which allows anyone to quickly and easily transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you require to prepare for this tax year and submit your tax return online free. It’s advertised to be simple, accurate and always free tax filing.
Wealthsimple Spend – A hybrid pre paid visa and savings product that allows one to recieve 1% cashback on all your purchases, as well as earn a very competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform which offers a variety of online courses on saving, investing, crypto, real estate and much more.
Every one of the above products, including Wealthsimple Trade can be found on the app or at their site with your Wealthsimple login.
How do I Begin Using Wealthsimple Trade?
Click here to setup a new Wealthsimple Trade account. For an exclusive signup bonus offer for our readers you will get the cash value of a Canadian stock worth $25 up to $4,500 Canadian once you make an initial deposit to your account.
But What if I Still Have Additional Questions Concerning Wealthsimple Cash App?
If this review didn’t given you the answers to all of your questions, and you’re still looking for further specific facts relating to Wealthsimple Review Francais, check out the Wealthsimple website to get answers to every one of your questions.