What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian online Financial, securities plus crypto trading web app that sets itself apart from other apps by charging absolutely no fees.
A online financial services company founded in the Autumn of twenty fourteen exclusively as a robo-advisor automated trading platform called Wealthsimple Invest, it has evolved significantly over the previous eight years to also feature Wealthsimple Trade, a no fee discount brokerage platform.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade lets Canadian investors to trade both single stocks and also ETFs without having to pay any commissions. The exception to this is when trading ETFs and stocks which are denominated in US Dollars. In this case, they will charge a currency conversion fee when buying and selling. However, past us are the days of having to pay more than $7 for each trade with digital discount brokerages as was the norm just a couple years ago.
Exactly How Much in Funds do I Need to Have in Order to Get Started With Wealthsimple Trade?
Wealthsimple is unique such that they will allow new customers to make a minimum deposit of just $1. The majority of alternative banks and discount brokerages have sizeable initial deposit amounts of 1k-$5,000. This makes it impossible for the normal investor to start. With Wealthsimple Trade, you don’t need to already be wealthy to start trading stocks and ETFs.
But Does Wealthsimple Trade Have RRSP Accounts?
They do. Wealthsimple Trade has both registered and non-CRA-registered account types. One are free to select between both RRSP and TFSA accounts in the setup process.
So Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade offers a modern mobile app that is offered to download on IOS and Android. The app makes the signup process and also the trading of stocks and ETFs truly painless.
Is Wealthsimple Trade Legit?
Definitely. Wealthsimple Trade is secure. Wealthsimple reports more than 15 billion CAD of Assets Under Management . They have been expanding for more than 7 years and currently employs about 600 Canadians. The controlling shareholder is the admired public Canadian entity Power Corp of Canada. Weapthsimple Trade was the very first no-fees online discount brokerage to operate in Canada.
But How Can I Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it very simple to add money to your account. Simply connect a chequing or savings account with your Trade account, then add funds to your account in simply a couple of clicks. Deposits from financial institutions to Wealthsimple usually take only a couple of days. Funds can the same way can be withdrawn a chequing or savings account using the exact same process.
What Additional Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An alternative to E-transfers that allows you to quickly and easily transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to get ready for this tax year and submit your tax return online free. It’s described to be simple, accurate and always totally free tax filing.
Wealthsimple Spend – A hybrid prepaid visa and savings account that lets one to get 1% cashback on your spending, and also earn a competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform that includes a variety of different courses on saving, investing, crypto, real estate and much more.
All of the mentioned features, along with Wealthsimple Trade can be accessed in the app and from the site with one login.
So How Should I Begin With Wealthsimple Trade?
Click here to create your Wealthsimple Trade account. For a special registration bonus to our audience you’ll get the equivalent cash value of a random stock worth up to $4,500 CAD when you fund your account.
So What if I Still Have Additional Questions Concerning Ben Reeves Wealthsimple?
If this review didn’t given you the answers to each of your questions, and you’re still looking for further answers relating to Ben Reeves Wealthsimple, check out the Wealthsimple website to find answers to every one of your questions.