What is Wealthsimple?
Wealthsimple is a simple to use Canadian digital Financial, stocks plus crypto trading platform that sets itself apart from other apps by charging no fees.
A leading Canadian online financial services business founded in Fall twenty fourteen originally as a robo-advisor algorithmic trading app named Wealthsimple Invest, it has grown considerably over the last eight years to also feature Wealthsimple Trade, a no fees discount brokerage service.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade lets Canadian investors to trade both stand alone stocks and ETFs without having to pay any commissions. The exception to this is when trading stocks and ETFs that are listed in US Dollars. In this case, they will charge a small currency conversion fee when buying and selling. However, gone are the days of having to pay $7-12 for each trade with online discount brokerages as was expected just a few years ago.
How Much Money do I Need to Have in Order to Get Started With Wealthsimple Trade?
Wealthsimple is unique such that they will allow investors to make a minimum deposit of just $1. The majority of alternative banks and discount brokerages have sizeable min deposit amounts of $1000-5k. This makes it difficult for the typical new investor to start investing. With Wealthsimple Trade, you don’t have to already be wealthy to start trading stocks and ETFs.
But Does Wealthsimple Trade Have Registered Accounts?
Yes. Wealthsimple Trade has available both registered and non-registered account types. You may choose between both RRSP and TFSA account types during the setup wizard.
But Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade has a well designed mobile app available on both iOS and Google Play. The mobile app makes the enrollment process and also trading of stocks and ETFs incredibly a breeze.
Is Wealthsimple Trade Legit?
Definitely. Wealthsimple Trade is secure. Wealthsimple has in excess of 15 billion CAD in Assets Under Management . These folks have been doing business for more than 7 years and also now employs roughly 600 folks. The main shareholder is the respected public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the very first no-fees digital brokerage to operate in Canada.
How Can I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it incredibly simple to fund a new account. Just connect the app to a chequing or savings account to your Trade account, then add money to your account in just a couple of clicks. Deposits from your bank to Wealthsimple typically take a couple of days. Funds can also be moved to a chequing or savings account by using the same process.
What Additional Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – An equivalent to Interac e-Transfers which allows anyone to quickly and efficiently 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 advertised to be simple, accurate and always free tax filing.
Wealthsimple Spend – A combination prepaid debit card and savings product which allows one to recieve 1% cashback on your everyday spending, and also get a competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance platform which offers a ton of online courses on different topics such as saving, investments, crypto, mortgages and more.
Each of the listed products, along with Wealthsimple Trade can be accessed on the mobile app and at the website with one login.
How Can I Begin Using Wealthsimple Trade?
Click here to signup for a Wealthsimple Trade account. For a special registration bonus to our audience you will get the cash value of a random Canadian stock worth $25 up to $4,500 CAD when you deposit to your account.
So What if I Still Have Additional Questions About 5 Cash Back Wealthsimple?
If this blog post still hasn’t answered each of your questions, and you’re searching for further facts about 5 Cash Back Wealthsimple, go to the Wealthsimple website to get answers to each your questions.