What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian web based investing, securities and crypto trading platform that distinguishes itself from its competitors by charging absolutely no fees.
A leading Canadian fintech company launched in Autumn of 2014 exclusively as a robo-advisor trading app named Wealthsimple Invest, it has improved substantially over the previous eight years to feature Wealthsimple Trade, a no fees discount brokerage service.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade lets Canadian consumers trade both individual stocks and also ETFs without needing to pay any commissions. The exception is when you’re trading stocks and ETFs that are listed in USD. In which case, they charge a small currency conversion fee both when buying and selling. However, gone are the times of paying $7-12 per trade with discount brokerages as was common a few years ago.
Exactly How Much in Funds Will I Need to Have to Begin Investing on Wealthsimple Trade?
Wealthsimple is unique such that they will allow Canadian investors to make a minimum deposit of only $1. The majority of traditional banks and brokerages have large minimum deposit amounts of 1k-5K. This makes it tough for the everyday new investor to start investing. With Wealthsimple Trade, you won’t have to already be wealthy to start trading stocks and ETFs.
But Does Wealthsimple Trade Have Registered Accounts?
It does. Wealthsimple Trade has both CRA registered and non-CRA-registered accounts. One may select both RRSP and TFSA account types in the setup wizard.
So Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade has a convenient mobile app that is available on both iOS and also Android. The smartphone app makes the registration steps and also the trading of stocks and ETFs truly simple.
Is Wealthsimple Trade Secure?
Most definitely. Wealthsimple Trade is secure. Wealthsimple has more than 15 billion CAD in Assets Under Management . This company has been operating for more than 7 years and also currently employs about 600 folks. The main owner is the admired publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade is the very first no-fee digital discount brokerage operating in Canada.
How Can I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it incredibly straight forward to deposit to a new account. Just connect the app to a chequing or savings account with your Trade account, and then add funds to your account in simply a couple of clicks. Deposits from financial institutions to Wealthsimple normally take only a couple of days. Funds can just as easily be moved back to your chequing or savings account by using the same method.
Which Other Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – An alternative to Interac e-transfers which allows one to quickly and simply transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to prepare for this tax year and file your tax return online for free. It’s pitched to be simple, accurate and always totally free income tax filing.
Wealthsimple Spend – A combination pre paid visa and savings product that allows you to recieve 1% cashback on all your everyday purchases, and also get a very competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform that offers a bunch of different courses on saving, investing, crypto, home buying and much more.
Each of the mentioned products, including Wealthsimple Trade can be accessed within the app or on their site with one login.
So How Can I Start Using Wealthsimple Trade?
Click here to create a Wealthsimple Trade account. For a special registration bonus offer for our audience you’ll receive the equivalent cash value of a random share worth $25 up to $4,500 Canadian once you fund your account.
But What if I Still Have Additional Questions Concerning Wealthsimple 0.5 Fee Reddit?
If this blog post still hasn’t answered all of your questions, and you’re still browsing for further specific facts about Premium Wealthsimple Trade, go to the Wealthsimple website to find answers to every one of your questions.