What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian online investing, securities and crypto trading web app that sets itself apart from other apps by charging no fees.
A leading Canadian online financial services business launched in Fall twenty fourteen exclusively as a robo-advisor automated trading app called Wealthsimple Invest, it has improved considerably over the past eight years to also include Wealthsimple Trade, a zero fee discount brokerage app.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade lets consumers trade both stand alone stocks and ETFs without needing to pay fees. The exception to this is when you’re trading stocks that are listed in US Dollars. In which case, they do charge a nominal currency conversion fee both when buying and selling. However, gone are the times of having to pay $7-12 per each trade with discount brokerages as was the norm only a few years past.
Exactly How Much in Funds Will I Need to Start on Wealthsimple Trade?
Wealthsimple is unique in that they will allow investors to make a minimum deposit of only $1. Many alternative banks and brokerages have sizeable minimum deposit amounts of 1K-$5,000. This makes it tough for the everyday investor to start. With Wealthsimple Trade, you won’t need to be wealthy to start trading stocks and ETFs.
Does Wealthsimple Trade Have TFSA Accounts?
Of course. Wealthsimple Trade has CRA registered and non-CRA-registered accounts. One can select between both RRSP and TFSA accounts during the setup wizard.
But Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade has a modern mobile app offered on Apple and also Android. The app makes the signup steps and the trading of stocks and ETFs truly painless.
So Is Wealthsimple Trade Secure?
For sure. Wealthsimple Trade is secure. Wealthsimple boasts more than 15 billion Canadian of Assets Under Management (AUM). they’ve been expanding for more than 7 years and currently employs over 600 Canadians. The majority shareholder is the admired publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade is the first no-fee digital discount brokerage to operate in Canada.
So How Does One Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it quite simple to add money to your new account. Simply connect to a chequing or savings account with your Trade account, and add funds to your account in just a few clicks. Deposits from your bank to Wealthsimple usually take a few days. Funds can the same way can be moved back to your chequing or savings accounts through the exact same process.
What Other Benefits and Products Are Available?
Wealthsimple Cash – This is alternative to Interac E-Transfers which allow anyone to quickly and simply transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to prepare for tax season and submit your taxes online free. It’s advertised to be easy, accurate and always totally free income tax filing.
Wealthsimple Spend – A combination prepaid visa and savings product that allows one to recieve 1% cashback on all your purchases, and also earn a very competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform which offers a bunch of online courses on different topics such as saving, investments, crypto, real estate and more.
Each of the mentioned products, along with Wealthsimple Trade can be found inside the app or from their site with a single login.
How do I Begin With Wealthsimple Trade?
Click here to setup a Wealthsimple Trade account. As an exclusive registration bonus offer to our readers you’ll get the cash value of a random stock valued at up to $4,500 Canadian as soon as you deposit to your account.
What if I Still Have Questions Related to 50$ Wealthsimple Cash?
If this blog post didn’t answered all of your questions, and you’re still searching for further specific information about 50$ Wealthsimple Cash, visit the Wealthsimple site to find answers to all your questions.