What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian web based Financial, stocks and crypto trading web app that distinguishes itself from the competition by charging absolutely no fees.
A online financial services company launched in Fall of twenty fourteen exclusively as a robo advisor algorithmic automated trading platform called Wealthsimple Invest, it has improved significantly over the last eight years to include Wealthsimple Trade, a no fee discount brokerage platform.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade lets investors to trade stand alone stocks and also ETFs without having to pay commissions. The exception is when you’re trading stocks which are displayed in USD currency. In which case, they will charge a nominal currency conversion fee when buying and selling. But, gone are the times of paying more than $7 per each trade with online discount brokerages as was common a couple years ago.
How Much in Funds do I Need in Order to Get Started on Wealthsimple Trade?
Wealthsimple is unique such that they will allow Canadian investors to make a minimum deposit of just $1. The majority of alternative banks and brokerages have sizeable min deposit amounts of $1,000-5K. This makes it hard for the typical new investor to get started. With Wealthsimple Trade, you don’t have to already be wealthy to begin trading stocks and ETFs.
Does Wealthsimple Trade Have Registered Accounts?
It does. Wealthsimple Trade has available both registered and non-CRA-registered accounts. One can select both RRSP and TFSA accounts during the setup process.
Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade has a well designed mobile app available on both Apple and Android. The mobile app makes the enrollment process and also trading of stocks and ETFs super easy.
Is Wealthsimple Trade Secure?
Of course. Wealthsimple Trade is safe. Wealthsimple has in excess of 15 billion CAD of Assets Under Management (AUM). They have been in business for more than 7 years and also currently employs over 600 Canadians. The primary shareholder is the public Canadian corporation Power Corp of Canada. Weapthsimple Trade was the first no-fee digital brokerage to operate in Canada.
But How Can I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it easy to add money to your account. Just connect the app to a chequing or savings account to your Trade account, then add funds to your account in simply a few steps. Deposits from financial institutions to Wealthsimple normally take a few days. Funds can also be moved back to your chequing or savings account through the same process.
Which Other Benefits and Products Are Available?
Wealthsimple Cash – An equivalent to Interac e-transfers which allows you to quickly and easily send money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to get ready for this tax year and file your tax return online free. It’s advertised to be easy, accurate and always free income tax filing.
Wealthsimple Spend – A combination prepaid visa and savings account which lets one to get 1% cashback on all your everyday purchases, and also get a competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform that includes a bunch of online courses on topics like saving, investing, crypto, mortgages and more.
Each of the above products, along with Wealthsimple Trade can be found inside the app and on the website with a single login.
How Should I Start With Wealthsimple Trade?
Click here to register for a Wealthsimple Trade account. For an exclusive signup bonus for our readers you’ll receive the cash value of a Canadian stock worth $25 up to $4,500 CAD once you fund your account.
So What if I Still Have Questions Related to Dividend Stocks Wealthsimple?
If this article didn’t given you the answers to all of your questions, and you’re still browsing for further info about Review Of Wealthsimple Tax, visit the Wealthsimple website for answers to all your questions.