What is Wealthsimple?
Wealthsimple is a simple to use Canadian online investing, stocks plus crypto trading app that sets itself apart from similar apps by charging no fees.
A online financial services company launched in Fall of 2014 exclusively as a robo advisor algorithmic automated trading platform called Wealthsimple Invest, it has grown significantly over the last eight years to feature Wealthsimple Trade, a no fee discount brokerage app.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade allows Canadian investors to trade stand alone stocks and ETFs without having to pay any commissions. The exception to this is when trading securities which are listed in USD. In which case, they do charge a nominal currency conversion fee when buying and selling. But, past us are the days of having to pay more than $7 for each trade with discount brokerages as was common just a few years ago.
Exactly How Much Money do I Need in Order to Get Started With Wealthsimple Trade?
Wealthsimple is cool in that they allow new customers to make a minimum deposit of just $1. The majority of traditional banks and discount brokerages have quite large minimum deposit amounts of $1,000-$5,000. This makes it impossible for the common investor to start investing. With Wealthsimple Trade, you won’t need to be wealthy to get started with trading stocks and ETFs.
Does Wealthsimple Trade Offer Registered Accounts?
Yes. Wealthsimple Trade offers registered and non-CRA-registered account types. One are able to select between both RRSP and TFSA accounts in the setup process.
Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade has a modern mobile app offered on both IOS and Google Play. The app makes the enrollment phase and also the trading of stocks and ETFs incredibly simple.
Is Wealthsimple Trade Secure?
Yes. Wealthsimple Trade is secure. Wealthsimple has in excess of 15 billion CAD in Assets Under Management . they’ve been doing business for more than 7 years and right now employs roughly 600 people. The majority owner is the public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the first no-fee digital discount brokerage to operate in Canada.
How Do I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it straight forward to add funds to a new account. Simply connect a chequing or savings account with your Trade account, then add money to your account in simply a few clicks. Deposits from your bank to Wealthsimple normally take a couple of days. Funds can just as easily be withdrawn a chequing or savings accounts by the same steps.
What Other Features and Products Are Available?
Wealthsimple Cash – An equivalent to E-Transfers that allows you to quickly and efficiently transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to get ready for this tax season and submit your taxes online for free. It’s pitched to be simple, accurate and always totally free tax filing.
Wealthsimple Spend – A hybrid prepaid visa and savings product that allows one to get 1% cashback on all your spending, as well as get a very competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform that offers a variety of different online courses on different topics such as saving, investments, crypto, real estate and more.
Every one of the above features, including Wealthsimple Trade may be accessed on the mobile app and on the website with a single login.
But How Should I Get Started With Wealthsimple Trade?
Click here to setup a Wealthsimple Trade account. As a special signup bonus for our audience you will get the equivalent cash value of a share worth $25 up to $4,500 Canadian once you make an initial deposit to your account.
So What if I Still Have Questions Concerning 0.75 Interest Wealthsimple?
If this article didn’t given you the answers to each of your questions, and you’re looking for additional facts relating to 0.75 Interest Wealthsimple, visit the Wealthsimple site to find answers to all your questions.