What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian online investing, securities and crypto trading app that sets itself apart from similar apps by charging absolutely no fees.
A leading Canadian fintech business launched in Autumn of twenty fourteen originally as a robo-advisor algorithmic trading platform called Wealthsimple Invest, it has grown substantially over the previous eight years to include Wealthsimple Trade, a no fee discount brokerage service.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade lets Canadian investors to trade both individual stocks and also ETFs without paying fees. The exception to this is when you’re trading stocks that are displayed in USD currency. In that case, they will charge a currency conversion fee both when buying and selling. However, behind us are the times of paying $7-12 for each trade with discount brokerages as was the case only a few years ago.
Exactly How Much Money Will I Need in Order to Start Investing on Wealthsimple Trade?
Wealthsimple is cool in that they allow investors to make a minimum deposit of only $1. Many traditional banks and discount brokerages have quite large minimum deposit amounts of 1k-5k. This makes it hard for the every day investor to get started. With Wealthsimple Trade, one doesn’t need to be wealthy to get started with trading stocks and ETFs.
So Does Wealthsimple Trade Offer RRSP Accounts?
Yes. Wealthsimple Trade has both CRA registered and non-CRA-registered account types. You may select between both RRSP and TFSA accounts in the setup process.
But Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade offers a modern mobile app that is available to download on both IOS and Android. The smartphone app makes the signup phase and also the trading of stocks and ETFs incredibly easy.
But Is Wealthsimple Trade Trustworthy?
Of course. Wealthsimple Trade is secure. Wealthsimple has over 15 billion Canadian in Assets Under Management (AUM). They have been doing business for more than 7 years and also currently employs over 600 folks. The controlling owner is the respected publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade is the very first no-fee digital discount brokerage to operate in Canada.
How Does One Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it very straight forward to add money to your new account. Just connect a chequing or savings account with your Trade account, then add funds to your account in only a few steps. Deposits from financial institutions to Wealthsimple normally take just a couple of days. Funds can the same way can be withdrawn your chequing or savings account with the exact same steps.
What Other Benefits and Products Are Available?
Wealthsimple Cash – An alternative to Interac e-Transfers that allow one to quickly and simply send money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for this tax year and file your tax return online free. It’s described to be simple, accurate and always totally free tax return filing.
Wealthsimple Spend – A hybrid prepaid debit card and savings product which allows you to get 1% cashback on your everyday purchases, and also earn a competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform that offers a variety of courses on topics like saving, investing, crypto, mortgages and much more.
Every one of the above products, including Wealthsimple Trade can be accessed within the app or at the website with your Wealthsimple login.
But How Can I Begin Using Wealthsimple Trade?
Click here to signup for a Wealthsimple Trade account. For a special signup bonus offer to our readers you’ll get the equivalent cash value of a share worth up to $4,500 Canadian once you fund your account.
So What if I Still Have Questions About 3 Business Day Hold Wealthsimple?
If this blog post hasn’t answered all of your questions, and you’re still looking for additional info relating to 3 Business Day Hold Wealthsimple, visit the Wealthsimple site to get answers to every one of your questions.