What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian web based Financial, stocks and crypto trading web app that distinguishes itself from similar apps by charging no fees.
A leading Canadian fintech business founded in Fall 2014 exclusively as a robo-advisor algorithmic automated trading app called Wealthsimple Invest, it has improved substantially over the previous 8 years to also include Wealthsimple Trade, a no fees discount brokerage app.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade allows Canadian consumers to trade stand alone stocks and also ETFs without having to pay commissions. The exception to this is when you’re trading stocks and ETFs that are displayed in US Dollars. In that case, they charge a currency conversion fee when buying and selling. But, behind us are the days of having to pay Upwards of $7 per trade with discount brokerages as was expected a couple years past.
Exactly How Much in Funds do I Need to Begin Investing on Wealthsimple Trade?
Wealthsimple is awesome in that they will allow new customers to make a minimum deposit of only $1. Many traditional banks and brokerages have sizeable minimum deposit amounts of 1K-5K. This makes it difficult for the every day investor to start investing. With Wealthsimple Trade, you don’t have to already be wealthy to begin trading stocks and ETFs.
But Does Wealthsimple Trade Offer TFSA Accounts?
They do. Wealthsimple Trade has available registered and non-registered accounts. You can select both RRSP and TFSA account types during the setup wizard.
Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade offers a well designed mobile app that is available to download on both Apple and Android. The mobile app makes the registration steps and also the trading of stocks and ETFs very easy.
But Is Wealthsimple Trade Legit?
Definitely. Wealthsimple Trade is trustworthy. Wealthsimple has over 15 billion CAD of Assets Under Management (AUM). they’ve been in business for more than 7 years and also right now employs about 600 folks. The majority owner is the large publicly traded Canadian entity Power Corp of Canada. Weapthsimple Trade is the very first no-fees online discount brokerage operating in Canada.
But How Can I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it quite simple to fund your new account. Simply connect a chequing or savings account to your Trade account, and add money to your account in just a couple of steps. Deposits from banks to Wealthsimple usually take only a few days. Funds can the same way can be moved back to your chequing or savings accounts through the same steps.
What Other Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – An alternative to Interac e-Transfers that allows one to quickly and simply send money to friends and family in Canada.
Wealthsimple Tax – Everything you need to get ready for this tax year and file your tax return online for free. It’s advertised to be easy, accurate and always totally free tax return filing.
Wealthsimple Spend – A combination pre paid visa and savings account that lets one to earn 1% cashback on your everyday purchases, and also get a competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform that offers a ton of different online courses on different topics such as saving, investments, crypto, mortgages and much more.
All of the mentioned products, including Wealthsimple Trade can be found in the app or from their website with a single login.
So How Can I Start With Wealthsimple Trade?
Click here to register for a Wealthsimple Trade account. As a special registration bonus offer for our readers you’ll get the equivalent cash value of a random share worth $25 up to $4,500 Canadian once you fund your account.
But What if I Still Have Additional Questions Related to Wealthsimple Digital Assets Inc?
If this article didn’t answered each of your questions, and you’re still searching for further specific info relating to Wealthsimple Income Tax Review, check out the Wealthsimple site to find answers to each your questions.