What is Wealthsimple?
Wealthsimple is a simple to use Canadian web based Financial, stocks and crypto trading web app that sets itself apart from similar apps by charging absolutely no fees.
A Toronto, Ontario based fintech business launched in Fall twenty fourteen exclusively as a robo advisor automated trading app named Wealthsimple Invest, it has improved substantially over the previous 8 years to also include Wealthsimple Trade, a zero fee discount brokerage service.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade lets Canadian consumers trade stand alone stocks and ETFs without needing to pay commissions. The exception is when trading securities that are listed in US Dollars. In which case, they charge a small currency conversion fee when buying and selling. However, behind us are the days of paying $7-12 for each trade with discount brokerages as was normal just a couple years past.
How Much Money do I Need to Get Started With Wealthsimple Trade?
Wealthsimple is special such that they allow Canadians to make a minimum deposit of just $1. Many alternative banks and brokerages have quite large initial deposit amounts of $1,000-5k. This makes it difficult for the typical new investor to start investing. With Wealthsimple Trade, you don’t need to be wealthy to get started with trading stocks and ETFs.
But Does Wealthsimple Trade Have Registered Accounts?
They do. Wealthsimple Trade has both CRA registered and non-registered account types. You are able to select both RRSP and TFSA account types during the setup process.
But Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade offers a easy to use mobile app that is offered to download on both iOS and also Google Play. The mobile app makes the registration phase and the trading of stocks and ETFs very a breeze.
Is Wealthsimple Trade Safe?
Definitely. Wealthsimple Trade is trustworthy. Wealthsimple reports more than 15 billion Canadian in Assets Under Management (AUM). They have been doing business for more than 7 years and right now employs about 600 Canadians. The majority owner is the admired public Canadian corporation Power Corp of Canada. Weapthsimple Trade was the very first no-fee digital brokerage operating in Canada.
How Does One Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it incredibly simple to add funds to a new account. Simply connect a chequing or savings account to your Trade account, and add funds to your account in only a couple of steps. Deposits from financial institutions to Wealthsimple typically take just a few days. Funds can also be moved back to your chequing or savings accounts by the same process.
Which Other Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An alternative to e-Transfers which allow anyone to quickly and easily transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you require to get ready for this tax year and submit your tax return online for free. It’s advertised to be easy, accurate and always free income tax filing.
Wealthsimple Spend – A hybrid pre paid visa and savings product that allows one to recieve 1% cashback on all your purchases, as well as earn a competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform which includes a ton of online courses on saving, investing, crypto, home buying and much more.
Every one of the listed features, including Wealthsimple Trade may be accessed in the app or at their website with one login.
How Should I Start With Wealthsimple Trade?
Click here to create a new Wealthsimple Trade account. For an exclusive registration bonus offer for our readers you’ll get the equivalent cash value of a share valued at up to $4,500 Canadian once you fund your account.
What if I Still Have Questions Concerning 50$ Wealthsimple?
If this article didn’t given you the answers to all of your questions, and you’re searching for further specific answers about 50$ Wealthsimple, check out the Wealthsimple site to find answers to all your questions.