Wealthsimple Trade Vs Rbc Direct Investing: Complete Guide

What Exactly is Wealthsimple?

Wealthsimple is a convenient and easy to use Canadian online Financial, stock plus crypto trading web app that sets itself apart from its competitors by charging absolutely no fees. 

A leading Canadian online financial services company founded in the Fall 2014 originally as a robo advisor automated trading platform called Wealthsimple Invest, it has evolved substantially over the last eight years to feature Wealthsimple Trade, a no fee discount brokerage app.

Does Wealthsimple Trade Charge Any Fees?

Wealthsimple Trade allows Canadian investors trade single stocks and also ETFs without needing to pay commissions. The exception to this is when trading ETFs and stocks that are listed in USD. In that case, they charge a nominal currency conversion fee when buying and selling. But, behind us are the times of paying more than $7 per each trade with discount brokerages as was normal only a few years past.

Exactly How Much Cash Will I Need to Get Started With Wealthsimple Trade?

Wealthsimple is awesome such that they allow Canadians to make a minimum deposit of only $1. Many traditional banks and brokerages have quite large minimum deposit amounts of $1,000-$5000. This makes it difficult for the everyday new investor to get started. With Wealthsimple Trade, you won’t have to be wealthy to begin trading stocks and ETFs.

So Does Wealthsimple Trade Offer RRSP Accounts?

Of course. Wealthsimple Trade has CRA registered and non-CRA-registered account types. One may select between both RRSP and TFSA accounts during the setup process. 

But Does Wealthsimple Trade Have a Mobile Application?

Yes, Wealthsimple Trade offers a convenient mobile app that is offered on both IOS and also Google Play. The mobile app makes the signup process and trading of stocks and ETFs incredibly a breeze.

But Is Wealthsimple Trade Legit?

Of course. Wealthsimple Trade is legit. Wealthsimple has in excess of 15 billion CAD in Assets Under Management . they’ve been doing business for more than 7 years and also now employs about 600 people. The primary owner is the large public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the first no-fees online discount brokerage operating in Canada.

But How Does One Add Funds to a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it very easy to add funds to your new account. Just connect a chequing or savings account to your Trade account, and then add funds to your account in simply a few clicks. Deposits from banks to Wealthsimple usually take only a few days. Funds can the same way can be moved to a chequing or savings account by using the same process.

Which Other Benefits and Products Are Offered by Wealthsimple?

Wealthsimple Cash – This is alternative to Interac e-transfers that allows anyone to quickly and easily send cash to friends and family in Canada.

Wealthsimple Tax – Everything you need to prepare for tax season and file your tax return online free. It’s advertised as simple, accurate and always totally free income tax filing.

Wealthsimple Spend – A combination prepaid debit card and savings product that lets one to get 1% cashback on your everyday purchases, 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 bunch of courses on different topics such as saving, investing, crypto, real estate and much more. 

Each of the mentioned products, along with Wealthsimple Trade can be found within the mobile app and at the site with a single login.

But How Should I Begin Using Wealthsimple Trade?

Click here to create your Wealthsimple Trade account. For a special registration bonus for our audience you’ll receive the equivalent cash value of a random share worth up to $4,500 CAD once you add funds to your account.

What if I Still Have Questions Concerning Wealthsimple 700 Million?

If this article still hasn’t answered each of your questions, and you’re still searching for additional answers about Wealthsimple Trade Vs Rbc Direct Investing, go to the Wealthsimple site to get answers to all your questions.