What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian web based investing, securities and crypto trading platform that distinguishes itself from its competitors by charging no fees.
A leading Canadian fintech business launched in the Autumn twenty fourteen exclusively as a robo-advisor algorithmic automated trading app called Wealthsimple Invest, it has grown significantly over the previous 8 years to feature Wealthsimple Trade, a no fees discount brokerage platform.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade lets Canadian investors to trade stand alone stocks and ETFs without having to pay any commissions. The exception to this is when you’re trading ETFs and stocks that are displayed in US Dollars. In which case, they charge a small currency conversion fee both when buying and selling. However, past us are the times of having to pay Upwards of $7 for each trade with discount brokerages as was expected a couple years ago.
Exactly How Much in Funds do I Need to Have to Get Started on Wealthsimple Trade?
Wealthsimple is cool such that they will allow Canadians to make a minimum deposit of only $1. Most traditional banks and discount brokerages have sizeable initial deposit amounts of $1000-$5,000. This makes it impossible for the every day investor to start. With Wealthsimple Trade, one doesn’t have to be wealthy to get started with trading stocks and ETFs.
But Does Wealthsimple Trade Have RRSP Accounts?
Yes. Wealthsimple Trade offers both CRA registered and non-registered accounts. You may select both RRSP and TFSA account types during the setup wizard.
Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade offers a well designed mobile app that is available on Apple and Google Play. The smartphone app makes the registration process and also trading of stocks and ETFs simple.
Is Wealthsimple Trade Safe?
Definitely. Wealthsimple Trade is legit. Wealthsimple has over 15 billion Canadian in Assets Under Management . This company has been in business for more than 7 years and right now employs more than 600 Canadians. The majority owner is the large public Canadian company Power Corp of Canada. Weapthsimple Trade was the first no-fee online brokerage to operate in Canada.
But How Can I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it very easy to fund your account. Just connect a chequing or savings account to your Trade account, then fund your account in only a couple of clicks. Deposits from your bank to Wealthsimple typically take only a few days. Funds can the same way can be moved to a chequing or savings account by the same steps.
What Additional Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is equivalent to E-Transfers which allows you to quickly and easily send money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to get ready for this tax season and file your taxes online for free. It’s described as easy, accurate and always free income tax filing.
Wealthsimple Spend – A combination prepaid debit card and savings product which allows one to earn 1% cashback on all your everyday spending, and also get a very competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance platform that includes a bunch of courses on saving, investments, crypto, mortgages and much more.
Each of the mentioned features, along with Wealthsimple Trade may be accessed within the mobile app and at the site with a single login.
So How Should I Get Started With Wealthsimple Trade?
Click here to setup your Wealthsimple Trade account. For a special registration bonus offer to our readers you’ll receive the equivalent cash value of a random stock worth up to $4,500 CAD when you deposit to your account.
So What if I Still Have Additional Questions About What Crypto Is On Wealthsimple?
If this review still hasn’t answered all of your questions, and you’re browsing for more specific info relating to Wealthsimple Trade Mutual Funds, check out the Wealthsimple website to find answers to every one of your questions.