What is Wealthsimple?
Wealthsimple is a simple to use Canadian digital investing, securities plus crypto trading app that sets itself apart from other apps by charging absolutely no fees.
A leading Canadian online financial services company founded in Autumn of twenty fourteen exclusively as a robo advisor automated trading app named Wealthsimple Invest, it has changed considerably over the previous 8 years to also include Wealthsimple Trade, a no fees discount brokerage app.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade lets consumers to trade individual stocks and ETFs without paying any commissions. The exception is when trading stocks and ETFs which are listed in USD currency. In which case, they charge a currency conversion fee when buying and selling. But, gone are the times of having to pay $7-12 per trade with online discount brokerages as was common only a few years ago.
Exactly How Much Money Will I Need to Get Started With Wealthsimple Trade?
Wealthsimple is unique in that they allow Canadians to make a minimum deposit of only $1. Most alternative banks and brokerages have large initial deposit amounts of 1K-5K. This makes it impossible for the common new investor to get started. With Wealthsimple Trade, you don’t need to already be wealthy to get started with trading stocks and ETFs.
Does Wealthsimple Trade Have TFSA Accounts?
Yes. Wealthsimple Trade has both registered and non-CRA-registered account types. One are free to choose both RRSP and TFSA accounts during the setup phase.
So Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade offers a well designed mobile app offered to download on both Apple and Android. The smartphone app makes the enrollment phase and the trading of stocks and ETFs very painless.
But Is Wealthsimple Trade Trustworthy?
Most definitely. Wealthsimple Trade is secure. Wealthsimple boasts more than 15 billion Canadian of Assets Under Management (AUM). They have been doing business for more than 7 years and also employs over 600 folks. The majority owner is the respected publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade was the first no-fee digital discount brokerage to operate in Canada.
How Can I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it very straight forward to add money to a new account. Simply connect the app to a chequing or savings account with your Trade account, and fund your account in simply a couple of clicks. Deposits from your bank to Wealthsimple usually take only a few days. Funds can just as easily be withdrawn your chequing or savings accounts through the exact same method.
Which Additional Features and Products Are Available?
Wealthsimple Cash – This is alternative to e-Transfers which allow one to quickly and easily transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you need to prepare for tax year and file your tax return online free. It’s described to be easy, accurate and always free tax return filing.
Wealthsimple Spend – A combination prepaid debit card and savings product that allows you to recieve 1% cashback on all your spending, and also earn a competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform that offers a variety of different courses on saving, investments, crypto, mortgages and much more.
All of the mentioned products, including Wealthsimple Trade may be accessed within the mobile app or on their website with a single login.
But How do I Start Using Wealthsimple Trade?
Click here to signup for a Wealthsimple Trade account. As an exclusive registration bonus to our readers you will get the cash value of a Canadian stock worth $25 up to $4,500 CAD as soon as you make an initial deposit to your account.
But What if I Still Have Questions Related to Wealthsimple Zero Commission Trading?
If this blog post still hasn’t given you the answers to all of your questions, and you’re searching for more answers about How To Cancel A Deposit On Wealthsimple Trade, check out the Wealthsimple website to find answers to all your questions.