What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian online Financial, securities plus crypto trading platform that distinguishes itself from the competition by charging absolutely no fees.
A Toronto, Ontario based fintech business launched in Autumn of twenty fourteen originally as a robo-advisor algorithmic automated trading platform 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 Any Fees?
Wealthsimple Trade allows consumers to trade both individual stocks and also ETFs without needing to pay commissions. The exception to this is when trading stocks and ETFs that are listed in USD currency. In this case, they do charge a nominal currency conversion fee when buying and selling. But, past us are the times of paying $7-12 per each trade with digital discount brokerages as was expected just a couple years ago.
How Much Cash Will I Need to Start With Wealthsimple Trade?
Wealthsimple is special such that they allow Canadians to make a minimum deposit of only $1. Many traditional banks and brokerages have quite large minimum deposit amounts of $1,000-5k. This makes it difficult for the common new investor to start. With Wealthsimple Trade, you don’t need to be wealthy to start trading stocks and ETFs.
Does Wealthsimple Trade Have TFSA Accounts?
It does. Wealthsimple Trade offers registered and non-CRA-registered account types. You may choose both RRSP and TFSA account types in the setup process.
But Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade offers a convenient mobile app that is available to download on both iOS and Android. The mobile app makes the enrollment steps and the trading of stocks and ETFs very simple.
Is Wealthsimple Trade Secure?
For sure. Wealthsimple Trade is safe. Wealthsimple has over 15 billion CAD in Assets Under Management (AUM). This company has been in business for more than 7 years and at this time employs more than 600 people. The primary owner is the large public Canadian entity Power Corp of Canada. Weapthsimple Trade was the first no-fee digital discount brokerage to operate in Canada.
How Can I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it very simple to add funds to your account. Just connect a chequing or savings account to your Trade account, then fund your account in only a couple of clicks. Deposits from banks to Wealthsimple usually take just a couple of days. Funds can the same way can be moved back to a chequing or savings accounts using the same steps.
What Other Benefits and Products Are Available?
Wealthsimple Cash – This is alternative to Interac E-transfers which allow anyone to quickly and simply send cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to prepare for tax year and submit your taxes online for free. It’s pitched to be easy, accurate and always free tax return filing.
Wealthsimple Spend – A hybrid prepaid debit card and savings account which allows one to earn 1% cashback on all your purchases, and also earn a competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform which includes a ton of different courses on topics like saving, investments, crypto, mortgages and more.
All of the mentioned features, including Wealthsimple Trade may be accessed inside the mobile app and at the site with one login.
So How Can I Get Started Using Wealthsimple Trade?
Click here to signup for your Wealthsimple Trade account. For an exclusive registration bonus offer for our readers you’ll get the equivalent cash value of a random Canadian stock worth up to $4,500 Canadian when you make an initial deposit to your account.
So What if I Still Have Additional Questions Related to Does Wealthsimple Have S&p 500?
If this article hasn’t answered each of your questions, and you’re browsing for further specific information relating to Does Wealthsimple Have S&p 500, check out the Wealthsimple site to find answers to all your questions.