What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian digital Financial, stocks and crypto trading app that distinguishes itself from its competitors by charging absolutely no fees.
A online financial services business founded in the Fall of twenty fourteen exclusively as a robo advisor algorithmic trading app named Wealthsimple Invest, it has evolved considerably over the previous 8 years to also include Wealthsimple Trade, a no fee discount brokerage app.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade lets investors to trade both individual stocks and also ETFs without having to pay any commissions. The exception to this is when you’re trading ETFs and stocks that are displayed in US Dollars. In this case, they do charge a small currency conversion fee both when buying and selling. However, past us are the days of having to pay Upwards of $7 per trade with digital discount brokerages as was the norm a few years past.
How Much Cash do I Need to Have to Start Investing on Wealthsimple Trade?
Wealthsimple is awesome such that they will allow Canadian investors to make a minimum deposit of only $1. Many alternative banks and brokerages have large initial deposit amounts of $1,000-$5,000. This makes it hard for the every day investor to start. With Wealthsimple Trade, you won’t need to be wealthy to get started with trading stocks and ETFs.
Does Wealthsimple Trade Have Registered Accounts?
Of course. Wealthsimple Trade has available registered and non-registered accounts. One may select between both RRSP and TFSA accounts during the setup wizard.
Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade offers a modern mobile app offered on both Apple and Android. The smartphone app makes the enrollment process and trading of stocks and ETFs painless.
Is Wealthsimple Trade Trustworthy?
Of course. Wealthsimple Trade is secure. Wealthsimple reports in excess of 15 billion CAD of Assets Under Management . This company has been operating for more than 7 years and also now employs more than 600 Canadians. The majority owner is the respected publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade is the first no-fees online discount brokerage operating in Canada.
So How Does One Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it very simple to add funds to a new account. Just connect to a chequing or savings account to your Trade account, and then add funds to your account in simply a few steps. Deposits from banks to Wealthsimple typically take only a few days. Funds can also be moved to your chequing or savings accounts with the same process.
Which Other Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is equivalent to Interac E-transfers that allows one to quickly and efficiently transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for this tax season and file your tax return online free. It’s advertised as easy, accurate and always free income tax filing.
Wealthsimple Spend – A combination prepaid visa and savings account which allows you to recieve 1% cashback on your everyday purchases, as well as get a very competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform which includes a variety of different courses on saving, investments, crypto, real estate and more.
All of the mentioned products, along with Wealthsimple Trade can be found within the mobile app and at the website with a single login.
How do I Get Started Using Wealthsimple Trade?
Click here to create your Wealthsimple Trade account. For an exclusive registration bonus offer for our readers you’ll receive the cash value of a Canadian stock worth up to $4,500 CAD when you add funds to your account.
What if I Still Have Additional Questions About Wealthsimple Design System?
If this blog post still hasn’t given you the answers to all of your questions, and you’re still looking for further specific facts relating to Wealthsimple Invest Performance Review, go to the Wealthsimple site to find answers to all your questions.