What is Wealthsimple?
Wealthsimple is a simple to use Canadian digital Financial, stock and crypto trading web app that differentiates itself from the competition by charging absolutely no fees.
A online financial services business launched in the Autumn 2014 exclusively as a robo-advisor algorithmic automated trading app called Wealthsimple Invest, it has changed considerably over the previous 8 years to also include Wealthsimple Trade, a zero fees discount brokerage platform.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade allows investors trade both single stocks and also ETFs without having to pay any fees. The exception to this is when trading stocks and ETFs which are listed in USD currency. In this case, they charge a small currency conversion fee when buying and selling. But, past us are the days of paying more than $7 for each trade with online discount brokerages as was normal only a few years ago.
Exactly How Much in Funds do I Need to Have to Begin Investing With Wealthsimple Trade?
Wealthsimple is unique such that they will allow investors to make a minimum deposit of only $1. The majority of alternative banks and brokerages have quite large minimum deposit amounts of $1,000-$5,000. This makes it difficult for the normal new investor to start investing. With Wealthsimple Trade, you won’t have to be wealthy to start trading stocks and ETFs.
But Does Wealthsimple Trade Offer RRSP Accounts?
Yes. Wealthsimple Trade has CRA registered and non-CRA-registered account types. One may select both RRSP and TFSA accounts during the setup process.
So Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade offers a convenient mobile app that is available to download on both IOS and also Android. The smartphone app makes the registration process and the trading of stocks and ETFs super simple.
But Is Wealthsimple Trade Legit?
. Wealthsimple Trade is trustworthy. Wealthsimple reports over 15 billion Canadian of Assets Under Management (AUM). they’ve been doing business for more than 7 years and right now employs roughly 600 folks. The primary owner is the admired publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade is the very first no-fees digital discount brokerage operating in Canada.
How Does One Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it simple to add money to your new account. Just connect a chequing or savings account to your Trade account, then fund your account in only a couple of clicks. Deposits from banks to Wealthsimple usually take only a couple of days. Funds can just as easily be moved to your chequing or savings account by using the same process.
What Additional Features and Products Are Available?
Wealthsimple Cash – An equivalent to e-Transfers which allow one to quickly and simply transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to get ready for tax year and submit your tax return online for free. It’s pitched to be easy, accurate and always free income tax filing.
Wealthsimple Spend – A combination prepaid visa and savings product that lets one to get 1% cashback on all your spending, and also get a very competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform that includes a variety of online courses on topics like saving, investing, crypto, mortgages and more.
Every one of the listed products, including Wealthsimple Trade can be accessed within the mobile app and on the site with one login.
So How do I Get Started With Wealthsimple Trade?
Click here to setup a Wealthsimple Trade account. For an exclusive registration bonus for our readers you will receive the cash value of a share valued at up to $4,500 Canadian once you make an initial deposit to your account.
So What if I Still Have Additional Questions About Wealthsimple Fractional Shares?
If this blog post hasn’t answered each of your questions, and you’re searching for more specific information about Wealthsimple Review Trustpilot, go to the Wealthsimple website for answers to every one of your questions.