What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian digital investing, stocks plus crypto trading app that distinguishes itself from the competition by charging no fees.
A fintech business launched in Autumn of 2014 originally as a robo-advisor automated trading platform called Wealthsimple Invest, it has improved substantially over the previous 8 years to also include Wealthsimple Trade, a no fee discount brokerage service.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade allows consumers to trade stand alone stocks and also ETFs without needing to pay any fees. The exception to this is when you’re trading stocks which are listed in USD currency. In this case, they will charge a currency conversion fee both when buying and selling. However, past us are the days of having to pay $7-12 per trade with online discount brokerages as was the case just a few years ago.
How Much Money Will I Need in Order to Get Started With Wealthsimple Trade?
Wealthsimple is cool such that they allow investors to make a minimum deposit of just $1. Most alternative banks and brokerages have quite large initial deposit amounts of 1K-5k. This makes it impossible for the typical new investor to get started. With Wealthsimple Trade, you won’t have to already be wealthy to begin trading stocks and ETFs.
But Does Wealthsimple Trade Offer RRSP Accounts?
Yes. Wealthsimple Trade has available both registered and non-registered accounts. One are free to choose between both RRSP and TFSA accounts during the setup phase.
So Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade offers a modern mobile app that is available to download on both IOS and Google Play. The smartphone app makes the signup steps and also trading of stocks and ETFs easy.
But Is Wealthsimple Trade Safe?
Of course. Wealthsimple Trade is secure. Wealthsimple boasts over 15 billion CAD of Assets Under Management . they’ve been operating for more than 7 years and now employs more than 600 folks. The primary owner is the large public Canadian company Power Corp of Canada. Weapthsimple Trade was the very first no-fees digital discount brokerage operating in Canada.
But How Does One Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it quite simple to add funds to your account. Simply connect a chequing or savings account with your Trade account, and fund your account in just a couple of clicks. Deposits from banks to Wealthsimple typically take only a couple of days. Funds can just as easily be moved back to your chequing or savings accounts by the same process.
What Other Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – An alternative to Interac E-Transfers which allow you to quickly and easily send money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to get ready for tax season and submit your tax return online for free. It’s advertised to be easy, accurate and always totally free income tax filing.
Wealthsimple Spend – A combination prepaid visa and savings account that lets one to get 1% cashback on your purchases, and also earn a very competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform that offers a variety of different online courses on topics like saving, investments, crypto, mortgages and much more.
Each of the mentioned products, including Wealthsimple Trade can be found on the app and at the site with a single login.
But How Should I Get Started With Wealthsimple Trade?
Click here to create a Wealthsimple Trade account. For a special registration bonus for our readers you will get the equivalent cash value of a Canadian stock worth $25 up to $4,500 CAD once you deposit to your account.
What if I Still Have Additional Questions About Wealthsimple Free Stock?
If this article still hasn’t given you the answers to each of your questions, and you’re still searching for further facts relating to Wealthsimple Tfsa Review, check out the Wealthsimple website for answers to all your questions.