What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian digital Financial, stocks and crypto trading web app that differentiates itself from similar apps by charging absolutely no fees.
A Toronto, Ontario based online financial services company launched in the Autumn of twenty fourteen originally as a robo-advisor trading platform named Wealthsimple Invest, it has improved significantly over the previous eight years to feature Wealthsimple Trade, a no fee discount brokerage app.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade lets Canadian consumers to trade both stand alone stocks and also ETFs without having to pay commissions. The exception to this is when trading securities which are listed in US Dollars. In that case, they do charge a small currency conversion fee both when buying and selling. However, past us are the times of paying Upwards of $7 per each trade with online discount brokerages as was common just a couple years past.
Exactly How Much Money do I Need in Order to Start on Wealthsimple Trade?
Wealthsimple is unique such that they allow Canadian investors to make a minimum deposit of just $1. The majority of traditional banks and discount brokerages have large initial deposit amounts of 1k-5k. This makes it impossible for the every day investor to get started. With Wealthsimple Trade, you won’t need to already be wealthy to begin trading stocks and ETFs.
But Does Wealthsimple Trade Offer TFSA Accounts?
Yes. Wealthsimple Trade offers both registered and non-registered accounts. You are free to choose both RRSP and TFSA accounts in the setup process.
But Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade has a easy to use mobile app that is available to download on both Apple and also Google Play. The smartphone app makes the registration phase and also the trading of stocks and ETFs painless.
Is Wealthsimple Trade Trustworthy?
Most definitely. Wealthsimple Trade is secure. Wealthsimple boasts over 15 billion CAD of Assets Under Management (AUM). This company has been operating for more than 7 years and also employs more than 600 people. The controlling owner is the respected publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade was the very first no-fees digital discount brokerage to operate in Canada.
How Do I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it incredibly straight forward to add funds to your account. Simply connect to a chequing or savings account with your Trade account, and then add funds to your account in just a couple of steps. Deposits from banks to Wealthsimple normally take only a few days. Funds can just as easily be moved back to a chequing or savings account by using the exact same method.
Which Other Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is alternative to Interac E-transfers which allow anyone to quickly and easily send money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for tax season and submit your taxes online for free. It’s pitched to be easy, accurate and always free tax return filing.
Wealthsimple Spend – A hybrid pre paid visa and savings product which lets you to earn 1% cashback on your everyday spending, as well as earn a 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 online courses on different topics such as saving, investing, crypto, mortgages and more.
Every one of the above features, along with Wealthsimple Trade may be found within the app or from their site with a single login.
How Can I Begin Using Wealthsimple Trade?
Click here to signup for a new Wealthsimple Trade account. As a special registration bonus for our readers you will get the equivalent cash value of a Canadian stock worth up to $4,500 Canadian as soon as you deposit to your account.
So What if I Still Have Additional Questions Related to Can You Trade Options On Wealthsimple?
If this article still hasn’t answered each of your questions, and you’re searching for more specific information relating to Wealthsimple Google Review, go to the Wealthsimple website for answers to all your questions.