What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian online Financial, stocks plus crypto trading platform that sets itself apart from the competition by charging absolutely no fees.
A fintech company founded in Autumn twenty fourteen originally as a robo-advisor automated trading app called Wealthsimple Invest, it has changed significantly over the last 8 years to include Wealthsimple Trade, a no fee discount brokerage service.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade allows Canadian investors trade single stocks and ETFs without needing to pay fees. The exception to this is when trading ETFs and stocks that are listed in USD currency. In which case, they charge a small currency conversion fee when buying and selling. But, behind us are the days of having to pay $7-12 per each trade with discount brokerages as was the case just a couple years past.
How Much Cash Will I Need in Order to Start on Wealthsimple Trade?
Wealthsimple is special such that they will allow new customers to make a minimum deposit of only $1. The majority of alternative banks and discount brokerages have sizeable minimum deposit amounts of $1,000-5k. This makes it hard for the everyday new investor to get started. With Wealthsimple Trade, you won’t have to be wealthy to start trading stocks and ETFs.
Does Wealthsimple Trade Offer RRSP Accounts?
Of course. Wealthsimple Trade has both registered and non-CRA-registered account types. You are able to choose between both RRSP and TFSA accounts in the setup phase.
Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade offers a convenient mobile app offered on Apple and also Google Play. The app makes the signup steps and also the trading of stocks and ETFs truly painless.
Is Wealthsimple Trade Trustworthy?
Yes. Wealthsimple Trade is secure. Wealthsimple has more than 15 billion CAD in Assets Under Management (AUM). they’ve been doing business for more than 7 years and currently employs roughly 600 Canadians. The controlling owner is the large publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade is the very first no-fee online brokerage to operate in Canada.
So How Do I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it incredibly straight forward to fund your account. Simply connect the app to a chequing or savings account to your Trade account, then add funds to your account in just a few clicks. Deposits from financial institutions to Wealthsimple typically take a couple of days. Funds can also be moved back to your chequing or savings accounts through the same steps.
What Other Benefits and Products Are Available?
Wealthsimple Cash – An equivalent to E-Transfers which allow anyone to quickly and easily transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you require to prepare for tax year and file your taxes online for free. It’s described to be simple, accurate and always totally free tax return filing.
Wealthsimple Spend – A combination pre paid debit card and savings account that allows you to earn 1% cashback on your spending, and also earn a very competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance platform which includes a ton of online courses on saving, investments, crypto, home buying and much more.
Each of the above products, including Wealthsimple Trade can be found inside the mobile app or at the website with one login.
So How Can I Start Using Wealthsimple Trade?
Click here to setup a Wealthsimple Trade account. For a special signup bonus offer to our audience you’ll get the cash value of a share valued at up to $4,500 Canadian when you deposit to your account.
So What if I Still Have Additional Questions Related to Wealthsimple Valuation 2022?
If this article didn’t given you the answers to all of your questions, and you’re looking for additional information about Wealthsimple Trade Joint Account, check out the Wealthsimple site to get answers to every one of your questions.