What is Wealthsimple?
Wealthsimple is an easy to use Canadian online Financial, securities and crypto trading app that differentiates itself from its competitors by charging no fees.
A Toronto, Ontario based fintech business launched in the Fall 2014 originally as a robo-advisor algorithmic automated trading app named Wealthsimple Invest, it has changed significantly over the last 8 years to also include Wealthsimple Trade, a zero fee discount brokerage platform.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade allows consumers trade individual stocks and also ETFs without paying any fees. The exception to this is when you’re trading securities that are denominated in USD currency. In this case, they do charge a currency conversion fee both when buying and selling. But, behind us are the times of having to pay $7-12 per trade with discount brokerages as was the case just a couple years past.
Exactly How Much Cash do I Need in Order to Start Investing With Wealthsimple Trade?
Wealthsimple is awesome in that they allow Canadians to make a minimum deposit of only $1. The majority of alternative banks and discount brokerages have quite large minimum deposit amounts of 1K-$5,000. This makes it impossible for the normal investor to start. With Wealthsimple Trade, one doesn’t need to be wealthy to start trading stocks and ETFs.
But Does Wealthsimple Trade Offer RRSP Accounts?
They do. Wealthsimple Trade offers both CRA registered and non-CRA-registered account types. You are free to choose both RRSP and TFSA account types in the setup process.
Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade offers a well designed mobile app offered on both Apple and Android. The mobile app makes the signup process and the trading of stocks and ETFs truly simple.
Is Wealthsimple Trade Secure?
Most definitely. Wealthsimple Trade is legit. Wealthsimple has over 15 billion Canadian in Assets Under Management . they’ve been doing business for more than 7 years and currently employs about 600 folks. The controlling owner is the admired publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade is the very first no-fee online brokerage operating in Canada.
How Do I Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it quite simple to add money to your new account. Simply connect a chequing or savings account to your Trade account, then add funds to your account in simply a few clicks. Deposits from your bank to Wealthsimple normally take just a few days. Funds can the same way can be withdrawn your chequing or savings accounts through the exact same method.
Which Additional Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An alternative to Interac E-transfers which allow you to quickly and simply transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you require to prepare for this tax year and file your tax return online free. It’s described to be easy, accurate and always free income tax filing.
Wealthsimple Spend – A hybrid prepaid debit card and savings account which lets you to recieve 1% cashback on your spending, and also earn a 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 topics like saving, investments, crypto, real estate and much more.
Each of the above features, along with Wealthsimple Trade can be found in the mobile app or from their website with your Wealthsimple login.
But How do I Start With Wealthsimple Trade?
Click here to create a Wealthsimple Trade account. As a special registration bonus offer to our readers you will receive the equivalent cash value of a random share worth up to $4,500 Canadian when you make an initial deposit to your account.
But What if I Still Have Additional Questions Related to Tfsa Wealthsimple Trade?
If this review didn’t given you the answers to all of your questions, and you’re still looking for additional information relating to Wealthsimple Trade How Long To Withdraw, check out the Wealthsimple site to find answers to all your questions.