What is Wealthsimple?
Wealthsimple is a simple to use Canadian web based Financial, securities plus crypto trading platform that sets itself apart from the competition by charging no fees.
A online financial services business founded in Fall twenty fourteen originally as a robo-advisor trading app called Wealthsimple Invest, it has improved considerably over the previous eight years to feature Wealthsimple Trade, a zero fee discount brokerage service.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade allows investors to trade both stand alone stocks and ETFs without needing to pay any commissions. The exception is when you’re trading ETFs and stocks which are denominated in US Dollars. In that case, they will charge a small currency conversion fee when buying and selling. But, gone are the days of having to pay more than $7 for each trade with digital discount brokerages as was the norm just a few years ago.
How Much Cash Will I Need in Order to Get Started With Wealthsimple Trade?
Wealthsimple is special in that they will allow Canadians to make a minimum deposit of only $1. Most traditional banks and discount brokerages have sizeable min deposit amounts of $1,000-5K. This makes it hard for the normal investor to start investing. With Wealthsimple Trade, you won’t need to be wealthy to begin trading stocks and ETFs.
But Does Wealthsimple Trade Offer Registered Accounts?
Yes. Wealthsimple Trade has available CRA registered and non-registered accounts. One are able 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 that is offered on Apple and Android. The smartphone app makes the registration steps and the trading of stocks and ETFs truly simple.
So Is Wealthsimple Trade Legit?
Of course. Wealthsimple Trade is trustworthy. Wealthsimple has more than 15 billion CAD in Assets Under Management (AUM). These folks have been expanding for more than 7 years and currently employs roughly 600 folks. The controlling owner is the admired public Canadian company Power Corp of Canada. Weapthsimple Trade is the first no-fees online discount brokerage operating in Canada.
How Does One Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it simple to deposit to your new account. Just connect a chequing or savings account with your Trade account, and then add funds to your account in just a few clicks. Deposits from financial institutions to Wealthsimple usually take a few days. Funds can just as easily be moved to your chequing or savings accounts using the exact same method.
Which Additional Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is alternative to e-Transfers that allows one to quickly and simply send cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for this tax year and submit your taxes online free. It’s described to be simple, accurate and always free income tax filing.
Wealthsimple Spend – A combination pre paid debit card and savings product which allows one to get 1% cashback on your spending, as well as earn a very competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform which offers a variety of different online courses on saving, investing, crypto, real estate and more.
All of the mentioned products, including Wealthsimple Trade may be found in the app and at the website with one login.
How Should I Start With Wealthsimple Trade?
Click here to signup for a new Wealthsimple Trade account. As a special registration bonus to our audience you’ll receive the cash value of a random Canadian stock worth $25 up to $4,500 Canadian as soon as you deposit to your account.
But What if I Still Have Additional Questions Related to Wealthsimple Head Office?
If this review didn’t answered all of your questions, and you’re looking for further facts about Wealth Simple Review 2020, go to the Wealthsimple website to get answers to all your questions.