What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian digital investing, stocks plus crypto trading app that distinguishes itself from its competitors by charging no fees.
A leading Canadian fintech business launched in the Fall twenty fourteen exclusively as a robo-advisor algorithmic automated trading app called Wealthsimple Invest, it has changed substantially over the past eight years to also include Wealthsimple Trade, a no fees discount brokerage service.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade allows consumers to trade both stand alone stocks and ETFs without paying any fees. The exception is when trading securities that are displayed in USD currency. In which case, they will charge a small currency conversion fee when buying and selling. But, behind us are the days of paying Upwards of $7 per trade with online discount brokerages as was normal only a couple years past.
Exactly How Much in Funds do I Need to Have to Get Started With Wealthsimple Trade?
Wealthsimple is special such that they allow new customers to make a minimum deposit of just $1. Many traditional banks and brokerages have large minimum deposit amounts of $1,000-$5,000. This makes it impossible for the normal investor to start investing. With Wealthsimple Trade, one doesn’t need to already be wealthy to begin trading stocks and ETFs.
But Does Wealthsimple Trade Offer TFSA Accounts?
They do. Wealthsimple Trade offers both registered and non-registered accounts. You may choose both RRSP and TFSA account types during the setup wizard.
Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade offers a modern mobile app that is offered to download on iOS and also Google Play. The smartphone app makes the signup steps and also trading of stocks and ETFs incredibly easy.
So Is Wealthsimple Trade Legit?
Definitely. Wealthsimple Trade is trustworthy. Wealthsimple boasts in excess of 15 billion CAD in Assets Under Management (AUM). This company has been in business for more than 7 years and also now employs roughly 600 people. The majority owner is the respected public Canadian entity Power Corp of Canada. Weapthsimple Trade was the first no-fee digital brokerage operating in Canada.
But How Can I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it easy to add money to an account. Simply connect to a chequing or savings account to your Trade account, and then add money to your account in simply a couple of steps. Deposits from banks to Wealthsimple typically take just a couple of days. Funds can just as easily be moved to your chequing or savings account using the exact same method.
What Other Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – An alternative to E-Transfers which allow anyone to quickly and simply transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to get ready for this tax year and file your tax return online free. It’s pitched to be simple, accurate and always totally free tax filing.
Wealthsimple Spend – A hybrid prepaid visa and savings account that lets one to earn 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 includes a bunch of courses on different topics such as saving, investing, crypto, home buying and more.
Each of the above features, including Wealthsimple Trade may be found inside the app and from their website with one login.
How do I Get Started Using Wealthsimple Trade?
Click here to signup for a Wealthsimple Trade account. As a special signup bonus for our readers you’ll get the cash value of a Canadian stock valued at $25 up to $4,500 CAD once you fund your account.
So What if I Still Have Additional Questions Concerning Wealthsimple 3 Dollars A Month?
If this blog post didn’t given you the answers to all of your questions, and you’re still searching for additional answers about Stocks Available On Wealthsimple Trade, check out the Wealthsimple website to find answers to every one of your questions.