What is Wealthsimple?
Wealthsimple is an easy to use Canadian online Financial, stock and crypto trading web app that distinguishes itself from the competition by charging no fees.
A fintech business founded in the Fall twenty fourteen exclusively as a robo advisor algorithmic trading platform named Wealthsimple Invest, it has improved significantly over the past 8 years to feature Wealthsimple Trade, a no fees discount brokerage app.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade allows consumers to trade both individual stocks and ETFs without needing to pay fees. The exception to this is when you’re trading stocks that are denominated in USD currency. In which case, they will charge a nominal currency conversion fee when buying and selling. However, gone are the days of having to pay more than $7 per trade with discount brokerages as was normal only a couple years past.
Exactly How Much Money do I Need to Have to Start Investing With Wealthsimple Trade?
Wealthsimple is awesome in that they will allow Canadian investors to make a minimum deposit of just $1. Most alternative banks and brokerages have sizeable minimum deposit amounts of $1,000-5k. This makes it difficult for the normal new investor to start investing. With Wealthsimple Trade, you won’t have to be wealthy to begin trading stocks and ETFs.
Does Wealthsimple Trade Have TFSA Accounts?
They do. Wealthsimple Trade has CRA registered and non-CRA-registered account types. One may select between both RRSP and TFSA account types during the setup phase.
But Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade has a easy to use mobile app that is offered on both iOS and also Google Play. The smartphone app makes the signup steps and trading of stocks and ETFs truly simple.
But Is Wealthsimple Trade Safe?
Of course. Wealthsimple Trade is legit. Wealthsimple has over 15 billion Canadian of Assets Under Management (AUM). This company has been expanding for more than 7 years and now employs about 600 folks. The main shareholder is the respected public Canadian corporation Power Corp of Canada. Weapthsimple Trade was the first no-fees digital brokerage operating in Canada.
But How Does One Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it easy to deposit to your new account. Simply connect to a chequing or savings account with your Trade account, and add money to your account in just a few steps. Deposits from banks to Wealthsimple normally take just a couple of days. Funds can also be moved back to a chequing or savings accounts through the same steps.
What Other Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is equivalent to e-transfers that allow anyone to quickly and easily send cash to friends and family in Canada.
Wealthsimple Tax – Everything you require to prepare for tax year and submit your tax return online for free. It’s advertised as simple, accurate and always totally free tax return filing.
Wealthsimple Spend – A combination pre paid visa and savings account that allows one to recieve 1% cashback on all your spending, and also get a competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform which includes a ton of courses on different topics such as saving, investments, crypto, mortgages and more.
Every one of the mentioned features, including Wealthsimple Trade may be accessed inside the app or from their website with a single login.
How Should I Get Started With Wealthsimple Trade?
Click here to setup a Wealthsimple Trade account. For an exclusive registration bonus to our audience you will receive the cash value of a random Canadian stock valued at up to $4,500 CAD once you make an initial deposit to your account.
What if I Still Have Additional Questions About 2fa Wealthsimple?
If this review still hasn’t answered each of your questions, and you’re browsing for more information relating to 2fa Wealthsimple, go to the Wealthsimple website to get answers to each your questions.