What is Wealthsimple?
Wealthsimple is a simple to use Canadian online Financial, securities plus crypto trading platform that differentiates itself from the competition by charging no fees.
A fintech company launched in the Fall of 2014 exclusively as a robo advisor algorithmic automated trading platform called Wealthsimple Invest, it has grown significantly over the previous eight years to include Wealthsimple Trade, a no fee discount brokerage platform.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade lets consumers to trade both single stocks and also ETFs without having to pay any fees. The exception is when you’re trading securities that are denominated in US Dollars. In this case, they charge a currency conversion fee both when buying and selling. But, behind us are the days of paying Upwards of $7 per each trade with discount brokerages as was normal only a couple years ago.
Exactly How Much in Funds Will I Need to Have in Order to Start Investing on Wealthsimple Trade?
Wealthsimple is special in that they will allow Canadian investors to make a minimum deposit of just $1. The majority of traditional banks and discount brokerages have large initial deposit amounts of 1k-5K. This makes it impossible for the normal new investor to start. With Wealthsimple Trade, you don’t need to be wealthy to begin trading stocks and ETFs.
Does Wealthsimple Trade Have Registered Accounts?
It does. Wealthsimple Trade offers CRA registered and non-registered accounts. You can select between both RRSP and TFSA accounts during the setup process.
So Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade has a easy to use mobile app that is offered on both Apple and Google Play. The mobile app makes the signup phase and also trading of stocks and ETFs truly painless.
So Is Wealthsimple Trade Safe?
Of course. Wealthsimple Trade is trustworthy. Wealthsimple reports in excess of 15 billion CAD of Assets Under Management . They have been in business for more than 7 years and also right now employs over 600 Canadians. The main shareholder is the large public Canadian entity Power Corp of Canada. Weapthsimple Trade is the first no-fee online brokerage to operate in Canada.
So How Do I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it very straight forward to add funds to an account. Simply connect to a chequing or savings account to your Trade account, and add money to your account in simply a few steps. Deposits from your bank to Wealthsimple normally take a few days. Funds can just as easily be moved to your chequing or savings account by using the same steps.
Which Additional Features and Products Are Available?
Wealthsimple Cash – This is equivalent to Interac E-transfers that allow one to quickly and efficiently transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you require to prepare for this tax year and submit your tax return online for free. It’s described to be simple, accurate and always totally free tax return filing.
Wealthsimple Spend – A hybrid prepaid debit card and savings account which lets one to earn 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 platform which offers a ton of different online courses on different topics such as saving, investments, crypto, mortgages and much more.
Each of the mentioned products, along with Wealthsimple Trade can be accessed in the mobile app and on the website with a single login.
So How Should I Start With Wealthsimple Trade?
Click here to register for your Wealthsimple Trade account. For an exclusive signup bonus to our audience you’ll get the cash value of a share worth up to $4,500 Canadian as soon as you make an initial deposit to your account.
So What if I Still Have Questions Related to Stop Limit Sell Wealthsimple?
If this review hasn’t answered all of your questions, and you’re browsing for more specific facts about How Long To Withdraw From Wealthsimple Trade, visit the Wealthsimple site for answers to each your questions.