What is Wealthsimple?
Wealthsimple is a simple to use Canadian digital Financial, stocks and crypto trading web app that sets itself apart from other apps by charging absolutely no fees.
A Toronto, Ontario based online financial services business founded in the Fall twenty fourteen originally as a robo advisor automated trading app named Wealthsimple Invest, it has changed significantly over the last 8 years to also include Wealthsimple Trade, a zero fee discount brokerage service.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade allows investors to trade both single stocks and also ETFs without having to pay commissions. The exception is when you’re trading securities that are listed in USD. In which case, they do charge a currency conversion fee when buying and selling. But, behind us are the times of having to pay Upwards of $7 per each trade with online discount brokerages as was normal just a couple years past.
Exactly How Much in Funds do I Need in Order to Get Started 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 brokerages have sizeable min deposit amounts of $1,000-$5000. This makes it hard for the common investor to get started. With Wealthsimple Trade, you won’t have to be wealthy to get started with trading stocks and ETFs.
But Does Wealthsimple Trade Have RRSP Accounts?
It does. Wealthsimple Trade has registered and non-registered account types. You are able to choose between both RRSP and TFSA account types in the setup phase.
Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade has a convenient mobile app available on Apple and also Android. The smartphone app makes the enrollment steps and also trading of stocks and ETFs super simple.
Is Wealthsimple Trade Legit?
Of course. Wealthsimple Trade is trustworthy. Wealthsimple has over 15 billion Canadian of Assets Under Management . they’ve been operating for more than 7 years and employs more than 600 Canadians. The primary shareholder is the admired publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the very first no-fee digital discount brokerage to operate in Canada.
How Does One Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it incredibly straight forward to add money to a new account. Just connect to a chequing or savings account with your Trade account, and then fund your account in just a few steps. Deposits from banks to Wealthsimple typically take only a few days. Funds can also be withdrawn your chequing or savings accounts by the exact same method.
Which Additional Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is equivalent to e-transfers that allow anyone to quickly and efficiently send cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to prepare for tax season and submit your tax return online free. It’s described to be simple, accurate and always totally free tax return filing.
Wealthsimple Spend – A hybrid pre paid debit card and savings product which lets one to recieve 1% cashback on all your everyday spending, and also get a competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform that offers a variety of courses on different topics such as saving, investing, crypto, mortgages and much more.
Each of the above products, including Wealthsimple Trade may be found on the app or from the website with your Wealthsimple login.
But How Should I Start With Wealthsimple Trade?
Click here to signup for your Wealthsimple Trade account. As an exclusive signup bonus to our audience you will get the equivalent cash value of a Canadian stock valued at up to $4,500 CAD once you fund your account.
But What if I Still Have Additional Questions About After Hours Trading Wealthsimple?
If this blog post still hasn’t given you the answers to all of your questions, and you’re browsing for more specific info about Wealthsimple Bitcoin Review, check out the Wealthsimple website for answers to each your questions.