What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian online investing, stocks plus crypto trading web app that distinguishes itself from similar apps by charging no fees.
A leading Canadian fintech business founded in Autumn of twenty fourteen originally as a robo advisor algorithmic automated trading app named Wealthsimple Invest, it has changed considerably over the past 8 years to include Wealthsimple Trade, a zero fees discount brokerage app.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade allows investors to trade individual stocks and also ETFs without having to pay fees. The exception is when trading stocks which are displayed in USD currency. In which case, they charge a small 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 the case a few years past.
Exactly How Much in Funds Will I Need to Have in Order to Start Investing on Wealthsimple Trade?
Wealthsimple is awesome in that they will allow investors to make a minimum deposit of just $1. The majority of traditional banks and discount brokerages have sizeable initial deposit amounts of $1,000-$5000. This makes it hard for the common investor to start investing. With Wealthsimple Trade, one doesn’t need to be wealthy to get started with trading stocks and ETFs.
So Does Wealthsimple Trade Offer RRSP Accounts?
Yes. Wealthsimple Trade has available CRA registered and non-registered accounts. You are able to choose between both RRSP and TFSA accounts during the setup process.
So Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade has a modern mobile app offered on IOS and also Google Play. The app makes the enrollment phase and also trading of stocks and ETFs truly painless.
But Is Wealthsimple Trade Trustworthy?
Most definitely. Wealthsimple Trade is secure. Wealthsimple has over 15 billion CAD of Assets Under Management . This company has been in business for more than 7 years and now employs over 600 folks. The controlling owner is the public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the very first no-fee online discount brokerage operating in Canada.
So How Do I Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it incredibly simple to deposit to your account. Simply connect to a chequing or savings account to your Trade account, and then add money to your account in just a few steps. Deposits from financial institutions to Wealthsimple normally take a few days. Funds can the same way can be moved back to a chequing or savings accounts through the same process.
Which Other Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is alternative to e-transfers that allow anyone to quickly and efficiently transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you need to prepare for this tax year and submit your tax return online free. It’s described to be easy, accurate and always free tax return filing.
Wealthsimple Spend – A hybrid pre paid visa and savings account which allows you to earn 1% cashback on all your everyday spending, as well as get a competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform which includes a variety of online courses on saving, investing, crypto, real estate and much more.
Every one of the above features, along with Wealthsimple Trade may be found within the mobile app and from the site with one login.
So How Can I Start Using Wealthsimple Trade?
Click here to signup for a new Wealthsimple Trade account. For an exclusive registration bonus to our audience you’ll get the equivalent cash value of a random Canadian stock worth $25 up to $4,500 Canadian as soon as you add funds to your account.
But What if I Still Have Questions Concerning Otc Wealthsimple?
If this blog post didn’t given you the answers to all of your questions, and you’re still browsing for additional facts relating to How Much Does It Cost To Trade On Wealthsimple, check out the Wealthsimple site for answers to every one of your questions.