What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian online Financial, stocks plus crypto trading app that distinguishes itself from its competitors by charging absolutely no fees.
A leading Canadian online financial services company launched in Fall twenty fourteen exclusively as a robo advisor algorithmic automated trading app called Wealthsimple Invest, it has evolved substantially over the past 8 years to also include Wealthsimple Trade, a no fee discount brokerage platform.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade allows consumers to trade both individual stocks and ETFs without needing to pay any fees. The exception is when you’re trading stocks and ETFs that are listed in USD currency. In this case, they do charge a currency conversion fee both when buying and selling. But, past us are the days of having to pay Upwards of $7 per each trade with online discount brokerages as was common only a few years past.
How Much in Funds do I Need to Have to Start With Wealthsimple Trade?
Wealthsimple is unique such that they allow investors to make a minimum deposit of only $1. Many traditional banks and discount brokerages have large min deposit amounts of 1k-$5000. This makes it tough for the typical new investor to get started. With Wealthsimple Trade, you won’t have to be wealthy to begin trading stocks and ETFs.
Does Wealthsimple Trade Have TFSA Accounts?
Of course. Wealthsimple Trade has CRA registered and non-registered account types. One are able to select between both RRSP and TFSA accounts during the setup wizard.
But Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade offers a easy to use mobile app that is available to download on iOS and also Android. The app makes the enrollment steps and also the trading of stocks and ETFs truly simple.
Is Wealthsimple Trade Safe?
Definitely. Wealthsimple Trade is safe. Wealthsimple has over 15 billion Canadian of Assets Under Management (AUM). they’ve been doing business for more than 7 years and currently employs more than 600 folks. The main shareholder is the public Canadian company Power Corp of Canada. Weapthsimple Trade was the first no-fee digital discount brokerage operating in Canada.
How Can I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it very easy to deposit to an account. Just connect a chequing or savings account with your Trade account, then add money to your account in just a few clicks. Deposits from banks to Wealthsimple typically take just a couple of days. Funds can also be moved to a chequing or savings accounts through the exact same steps.
Which Other Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – An equivalent to Interac e-Transfers which allow one to quickly and simply send money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to get ready for this tax season and file your taxes online for free. It’s pitched as easy, accurate and always totally free tax return filing.
Wealthsimple Spend – A combination prepaid visa and savings account which lets one to recieve 1% cashback on all your purchases, as well as get a competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform that offers a variety of different online courses on topics like saving, investments, crypto, mortgages and much more.
Every one of the mentioned products, along with Wealthsimple Trade can be accessed on the mobile app or at the site with a single login.
But How do I Start Using Wealthsimple Trade?
Click here to signup for a new Wealthsimple Trade account. For an exclusive signup bonus offer for our readers you’ll get the cash value of a random stock worth up to $4,500 CAD as soon as you deposit to your account.
What if I Still Have Questions About Jonathan Lau Wealthsimple?
If this blog post still hasn’t given you the answers to all of your questions, and you’re still looking for more info about Are There Fees For Wealthsimple Trade, go to the Wealthsimple site to get answers to all your questions.