What is Wealthsimple?
Wealthsimple is an easy to use Canadian online Financial, stock plus crypto trading platform that differentiates itself from other apps by charging no fees.
A leading Canadian online financial services business founded in Fall of twenty fourteen originally as a robo-advisor algorithmic automated trading app called Wealthsimple Invest, it has evolved substantially over the previous 8 years to feature Wealthsimple Trade, a zero fees discount brokerage platform.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade lets investors trade both stand alone stocks and ETFs without paying commissions. The exception to this is when you’re trading ETFs and stocks that are displayed in USD. In this case, they do charge a nominal currency conversion fee when buying and selling. But, gone are the days of having to pay more than $7 for each trade with online discount brokerages as was normal a couple years past.
How Much Money do I Need to Have to Start With Wealthsimple Trade?
Wealthsimple is awesome in that they will allow Canadians to make a minimum deposit of just $1. The majority of alternative banks and brokerages have large initial deposit amounts of 1K-5k. This makes it difficult for the every day new investor to get started. With Wealthsimple Trade, you won’t have to already be wealthy to start trading stocks and ETFs.
Does Wealthsimple Trade Have Registered Accounts?
They do. Wealthsimple Trade offers registered and non-CRA-registered account types. One are free to select between both RRSP and TFSA accounts in the setup phase.
But Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade offers a well designed mobile app that is offered to download on both IOS and also Google Play. The smartphone app makes the enrollment steps and the trading of stocks and ETFs a breeze.
So Is Wealthsimple Trade Legit?
Of course. Wealthsimple Trade is safe. Wealthsimple reports more than 15 billion Canadian in Assets Under Management (AUM). They have been expanding for more than 7 years and now employs more than 600 Canadians. The majority shareholder is the admired publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade is the first no-fee digital brokerage to operate in Canada.
But How Do I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it straight forward to fund your account. Simply connect to a chequing or savings account to your Trade account, and fund your account in only a couple of steps. Deposits from financial institutions to Wealthsimple normally take a couple of days. Funds can the same way can be moved back to a chequing or savings accounts by using the same method.
Which Additional Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An equivalent to Interac E-Transfers which allows anyone to quickly and simply send cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to get ready for tax season and file your taxes online free. It’s pitched as simple, accurate and always free tax return filing.
Wealthsimple Spend – A hybrid pre paid visa and savings product which lets one to get 1% cashback on your spending, as well as get a competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform which includes a variety of online courses on topics like saving, investments, crypto, mortgages and much more.
All of the mentioned features, including Wealthsimple Trade may be found in the app or from the site with your Wealthsimple login.
So How do I Start With Wealthsimple Trade?
Click here to register for a Wealthsimple Trade account. As a special registration bonus offer for our audience you’ll receive the equivalent cash value of a random share worth up to $4,500 Canadian as soon as you make an initial deposit to your account.
What if I Still Have Questions Concerning 2021 Tax Return Wealthsimple?
If this review still hasn’t given you the answers to all of your questions, and you’re searching for further facts about 2021 Tax Return Wealthsimple, go to the Wealthsimple website for answers to all your questions.