What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian digital investing, securities and crypto trading platform that differentiates itself from the competition by charging absolutely no fees.
A leading Canadian fintech business founded in Autumn 2014 exclusively as a robo-advisor algorithmic automated trading app named Wealthsimple Invest, it has improved substantially over the past 8 years to also feature Wealthsimple Trade, a zero fees discount brokerage platform.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade lets investors trade single stocks and ETFs without needing to pay commissions. The exception is when trading stocks and ETFs which are listed in US Dollars. In this case, they charge a currency conversion fee when buying and selling. But, behind us are the days of paying Upwards of $7 for each trade with digital discount brokerages as was the norm only a few years past.
Exactly How Much Money do I Need to Start With Wealthsimple Trade?
Wealthsimple is awesome such that they will allow new customers to make a minimum deposit of just $1. The majority of alternative banks and discount brokerages have sizeable minimum deposit amounts of 1k-$5,000. This makes it tough for the typical new investor to get started. With Wealthsimple Trade, one doesn’t have to already be wealthy to begin trading stocks and ETFs.
Does Wealthsimple Trade Offer RRSP Accounts?
They do. Wealthsimple Trade offers both registered and non-CRA-registered accounts. One can choose between both RRSP and TFSA account types in the setup phase.
But Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade offers a well designed mobile app that is available on both Apple and Google Play. The mobile app makes the enrollment phase and also the trading of stocks and ETFs simple.
Is Wealthsimple Trade Trustworthy?
Of course. Wealthsimple Trade is legit. Wealthsimple boasts over 15 billion CAD of Assets Under Management (AUM). They have been operating for more than 7 years and employs about 600 Canadians. The majority owner is the large public Canadian entity Power Corp of Canada. Weapthsimple Trade was the first no-fee online discount brokerage to operate in Canada.
How Does One Fund a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it incredibly easy to deposit to an account. Simply connect the app to a chequing or savings account to your Trade account, and then add funds to your account in only a couple of clicks. Deposits from banks to Wealthsimple normally take just a couple of days. Funds can also be moved back to your chequing or savings account by the exact same steps.
What Additional Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is equivalent to Interac E-transfers which allow one to quickly and easily transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to prepare for this tax season and file your taxes online for free. It’s described to be simple, accurate and always free tax filing.
Wealthsimple Spend – A combination prepaid visa and savings product which allows one to get 1% cashback on your everyday spending, as well as get a competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform which includes a bunch of different courses on topics like saving, investments, crypto, mortgages and more.
All of the mentioned features, including Wealthsimple Trade may be found in the mobile app and on their website with one login.
So How Can I Get Started Using Wealthsimple Trade?
Click here to register for a new Wealthsimple Trade account. For an exclusive signup bonus for our readers you will get the cash value of a random stock worth $25 up to $4,500 Canadian when you fund your account.
What if I Still Have Questions Concerning Wealthsimple 0.75 Interest?
If this article hasn’t given you the answers to each of your questions, and you’re searching for further information about Penny Stocks To Buy On Wealthsimple Trade, visit the Wealthsimple website to get answers to all your questions.