What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian online investing, stock plus crypto trading app that sets itself apart from other apps by charging no fees.
A Toronto, Ontario based fintech business founded in the Autumn of twenty fourteen exclusively as a robo advisor algorithmic trading app called Wealthsimple Invest, it has changed significantly over the last 8 years to also include Wealthsimple Trade, a no fee discount brokerage platform.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade allows Canadian investors to trade both individual stocks and also ETFs without needing to pay commissions. The exception to this is when trading stocks which are denominated in USD. In that case, they charge a small currency conversion fee when buying and selling. But, gone are the days of paying more than $7 per each trade with digital discount brokerages as was the norm a few years past.
Exactly How Much in Funds do I Need to Have to Get Started on Wealthsimple Trade?
Wealthsimple is special in that they allow new customers to make a minimum deposit of only $1. Most alternative banks and brokerages have large initial deposit amounts of $1000-$5000. This makes it difficult for the typical new investor to start. With Wealthsimple Trade, one doesn’t need to already be wealthy to start trading stocks and ETFs.
But Does Wealthsimple Trade Offer RRSP Accounts?
Yes. Wealthsimple Trade offers both CRA registered and non-CRA-registered account types. One are able to select both RRSP and TFSA accounts during the setup process.
Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade has a well designed mobile app available on Apple and also Google Play. The smartphone app makes the signup process and also trading of stocks and ETFs simple.
So Is Wealthsimple Trade Secure?
Yes. Wealthsimple Trade is safe. Wealthsimple boasts more than 15 billion Canadian of Assets Under Management (AUM). These folks have been expanding for more than 7 years and also right now employs about 600 Canadians. The controlling shareholder is the admired public Canadian corporation Power Corp of Canada. Weapthsimple Trade is the first no-fee digital brokerage to operate in Canada.
But How Does One Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it straight forward to deposit to an account. Just connect a chequing or savings account with your Trade account, and then fund your account in only a few clicks. Deposits from your bank to Wealthsimple normally take only a couple of days. Funds can the same way can be moved to a chequing or savings account by using the same method.
What Other Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is alternative to Interac e-transfers that allow you to quickly and efficiently send money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to get ready for this tax year and file your taxes online for free. It’s described to be easy, accurate and always free income tax filing.
Wealthsimple Spend – A hybrid prepaid debit card and savings product which allows one to get 1% cashback on your spending, as well as get a competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform which offers a ton of courses on saving, investing, crypto, mortgages and much more.
Each of the listed products, along with Wealthsimple Trade may be accessed in the mobile app or on their website with your Wealthsimple login.
So How Should I Get Started Using Wealthsimple Trade?
Click here to setup your Wealthsimple Trade account. As an exclusive registration bonus offer to our readers you’ll receive the cash value of a Canadian stock worth up to $4,500 Canadian once you add funds to your account.
But What if I Still Have Questions Concerning Is Wealthsimple.legit?
If this blog post didn’t answered all of your questions, and you’re searching for additional specific info about Wealthsimple Trade Phone Number, visit the Wealthsimple website to find answers to each your questions.