What is Wealthsimple?
Wealthsimple is an easy to use Canadian web based Financial, securities plus crypto trading app that distinguishes itself from similar apps by charging absolutely no fees.
A Toronto, Ontario based online financial services business founded in Fall of twenty fourteen originally as a robo advisor algorithmic automated trading platform named Wealthsimple Invest, it has evolved considerably over the past 8 years to feature Wealthsimple Trade, a no fees discount brokerage app.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade allows Canadian consumers trade individual stocks and also ETFs without having to pay commissions. The exception to this is when you’re trading ETFs and stocks which are listed in US Dollars. In that case, they will charge a small currency conversion fee when buying and selling. But, gone are the days of having to pay more than $7 for each trade with online discount brokerages as was expected just a couple years ago.
Exactly How Much Cash Will I Need to Get Started With Wealthsimple Trade?
Wealthsimple is cool such that they allow Canadian investors to make a minimum deposit of only $1. Many alternative banks and discount brokerages have large minimum deposit amounts of $1,000-$5,000. This makes it impossible for the normal new investor to start investing. With Wealthsimple Trade, one doesn’t need to already be wealthy to start trading stocks and ETFs.
Does Wealthsimple Trade Offer Registered Accounts?
It does. Wealthsimple Trade has both CRA registered and non-CRA-registered accounts. One may choose between both RRSP and TFSA account types in the setup wizard.
But Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade has a modern mobile app that is available to download on both IOS and Android. The mobile app makes the registration phase and also trading of stocks and ETFs incredibly a breeze.
So Is Wealthsimple Trade Legit?
Most definitely. Wealthsimple Trade is safe. Wealthsimple reports over 15 billion CAD of Assets Under Management (AUM). they’ve been doing business for more than 7 years and at this time employs over 600 folks. The main owner is the large public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the first no-fee digital brokerage to operate in Canada.
How Do I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it so simple to add funds to your account. Just connect a chequing or savings account with your Trade account, and then fund your account in just a few steps. Deposits from banks to Wealthsimple normally take just a few days. Funds can also be moved to your chequing or savings accounts by the exact same steps.
What Additional Benefits and Products Are Available?
Wealthsimple Cash – An equivalent to Interac e-Transfers which allows one to quickly and easily send cash to friends and family in Canada.
Wealthsimple Tax – Everything you need to prepare for this tax season and file your tax return online free. It’s described to be simple, accurate and always totally free tax filing.
Wealthsimple Spend – A combination prepaid debit card and savings product which lets you to get 1% cashback on all your spending, and also get a very competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform which includes a ton of courses on saving, investing, crypto, mortgages and more.
Every one of the listed features, along with Wealthsimple Trade may be accessed within the mobile app or at the website with a single login.
So How do I Start With Wealthsimple Trade?
Click here to register for your Wealthsimple Trade account. As an exclusive registration bonus to our readers you will receive the cash value of a random share worth $25 up to $4,500 Canadian as soon as you deposit to your account.
So What if I Still Have Questions Concerning Best Crypto To Buy On Wealthsimple?
If this blog post didn’t answered all of your questions, and you’re still looking for additional specific facts relating to Best Crypto To Buy On Wealthsimple, check out the Wealthsimple website to find answers to all your questions.