What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian digital Financial, securities and crypto trading app that differentiates itself from other apps by charging absolutely no fees.
A online financial services company launched in the Fall of twenty fourteen exclusively as a robo advisor algorithmic automated trading app called Wealthsimple Invest, it has evolved significantly over the last eight years to also feature Wealthsimple Trade, a no fees discount brokerage app.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade lets Canadian consumers to trade single stocks and also ETFs without needing to pay commissions. The exception to this is when you’re trading securities which are listed in US Dollars. In which case, they do charge a currency conversion fee when buying and selling. However, past us are the days of paying $7-12 per trade with discount brokerages as was the case only a few years past.
How Much in Funds do I Need in Order to Get Started With Wealthsimple Trade?
Wealthsimple is cool such that they allow investors to make a minimum deposit of only $1. The majority of traditional banks and discount brokerages have quite large initial deposit amounts of 1K-5k. This makes it tough for the typical new investor to start. With Wealthsimple Trade, you don’t need to be wealthy to start trading stocks and ETFs.
So Does Wealthsimple Trade Have Registered Accounts?
It does. Wealthsimple Trade offers both registered and non-CRA-registered accounts. You are able to choose both RRSP and TFSA accounts in the setup process.
So Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade has a easy to use mobile app available on IOS and also Google Play. The smartphone app makes the registration process and also trading of stocks and ETFs truly a breeze.
Is Wealthsimple Trade Trustworthy?
Of course. Wealthsimple Trade is secure. Wealthsimple has in excess of 15 billion CAD in Assets Under Management . This company has been operating for more than 7 years and also employs more than 600 folks. The majority owner is the public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the very first no-fee online discount brokerage to operate in Canada.
How Do I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it simple to deposit to an account. Just connect to a chequing or savings account with your Trade account, and then fund your account in just a few steps. Deposits from financial institutions to Wealthsimple normally take just a couple of days. Funds can the same way can be withdrawn your chequing or savings accounts through the exact same method.
Which Other Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is equivalent to e-transfers which allows one to quickly and easily send money to friends and family in Canada.
Wealthsimple Tax – Everything you need to prepare for tax season and file your taxes online free. It’s described as simple, accurate and always free tax filing.
Wealthsimple Spend – A hybrid prepaid visa and savings account which allows one to earn 1% cashback on all your spending, and also earn a very competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform that includes a ton of different courses on saving, investing, crypto, mortgages and much more.
Each of the mentioned products, including Wealthsimple Trade can be accessed inside the app and on their website with a single login.
How Can I Begin With Wealthsimple Trade?
Click here to signup for a Wealthsimple Trade account. For an exclusive registration bonus offer for our readers you will get the cash value of a random stock worth $25 up to $4,500 Canadian once you deposit to your account.
What if I Still Have Additional Questions Concerning Resp Wealthsimple?
If this review didn’t answered all of your questions, and you’re looking for more specific answers about Etfs Wealthsimple Trade, go to the Wealthsimple website to find answers to every one of your questions.