What is Wealthsimple?
Wealthsimple is an easy to use Canadian online Financial, stock plus crypto trading web app that differentiates itself from other apps by charging no fees.
A online financial services company launched in the Autumn of 2014 originally as a robo-advisor algorithmic automated trading platform named Wealthsimple Invest, it has changed significantly over the last eight years to include Wealthsimple Trade, a zero fee discount brokerage service.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade lets investors trade both individual stocks and ETFs without needing to pay fees. The exception is when you’re trading stocks which are listed in US Dollars. In this case, they charge a nominal currency conversion fee both when buying and selling. However, past us are the times of having to pay $7-12 for each trade with digital discount brokerages as was common only a couple years ago.
Exactly How Much Money Will I Need to Have in Order to Get Started With Wealthsimple Trade?
Wealthsimple is special in that they will allow Canadians to make a minimum deposit of just $1. Most alternative banks and brokerages have large minimum deposit amounts of $1000-$5,000. This makes it impossible for the every day new investor to start. With Wealthsimple Trade, one doesn’t have to be wealthy to begin trading stocks and ETFs.
But Does Wealthsimple Trade Offer TFSA Accounts?
They do. Wealthsimple Trade has available registered and non-registered accounts. One may choose between both RRSP and TFSA accounts in the setup phase.
But Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade has a convenient mobile app that is offered on both Apple and Google Play. The app makes the enrollment steps and also trading of stocks and ETFs very a breeze.
But Is Wealthsimple Trade Safe?
. Wealthsimple Trade is safe. Wealthsimple boasts more than 15 billion CAD in Assets Under Management . They have been in business for more than 7 years and now employs roughly 600 Canadians. The primary shareholder is the large publicly traded Canadian entity Power Corp of Canada. Weapthsimple Trade is the first no-fee digital brokerage operating in Canada.
But How Does One Fund a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it quite straight forward to deposit to an account. Simply connect to a chequing or savings account to your Trade account, and then add funds to your account in just a few clicks. Deposits from your bank to Wealthsimple normally take only a couple of days. Funds can just as easily be moved to your chequing or savings account through the exact same steps.
What Additional Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is alternative to E-transfers that allows anyone to quickly and efficiently transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for this tax year and submit your tax return online free. It’s advertised as easy, accurate and always totally free tax return filing.
Wealthsimple Spend – A combination prepaid visa and savings account that allows you to recieve 1% cashback on all your everyday spending, and also earn a competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance platform which offers a variety of courses on topics like saving, investing, crypto, home buying and much more.
Every one of the listed products, along with Wealthsimple Trade can be accessed within the app or from their site with one login.
So How do I Begin With Wealthsimple Trade?
Click here to create your Wealthsimple Trade account. As an exclusive signup bonus for our audience you will receive the equivalent cash value of a random Canadian stock valued at up to $4,500 CAD when you deposit to your account.
But What if I Still Have Additional Questions Concerning Does Wealthsimple Have Fractional Shares?
If this review didn’t given you the answers to each of your questions, and you’re searching for further specific information relating to Does Wealthsimple Have Fractional Shares, check out the Wealthsimple site to get answers to every one of your questions.