What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian online Financial, securities plus crypto trading app that differentiates itself from similar apps by charging no fees.
A leading Canadian fintech company launched in Autumn of twenty fourteen exclusively as a robo advisor algorithmic trading platform called Wealthsimple Invest, it has grown considerably over the previous eight years to also feature Wealthsimple Trade, a zero fees discount brokerage app.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade lets Canadian consumers trade stand alone stocks and ETFs without having to pay any fees. The exception is when trading ETFs and stocks which are displayed in USD. In this case, they charge a small currency conversion fee both when buying and selling. However, gone are the times of paying more than $7 for each trade with discount brokerages as was expected only a few years ago.
Exactly How Much Cash do I Need to Begin Investing on Wealthsimple Trade?
Wealthsimple is unique such that they will allow Canadian investors to make a minimum deposit of just $1. Many alternative banks and discount brokerages have sizeable min deposit amounts of $1000-5K. This makes it hard for the common investor to start investing. With Wealthsimple Trade, one doesn’t have to already be wealthy to get started with trading stocks and ETFs.
Does Wealthsimple Trade Offer Registered Accounts?
It does. Wealthsimple Trade has CRA registered and non-registered account types. You are able to choose both RRSP and TFSA account types in the setup phase.
But Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade offers a convenient mobile app offered on both Apple and Android. The app makes the signup steps and also the trading of stocks and ETFs super easy.
So Is Wealthsimple Trade Legit?
For sure. Wealthsimple Trade is secure. Wealthsimple reports more than 15 billion CAD in Assets Under Management (AUM). These folks have been operating for more than 7 years and currently employs about 600 folks. The majority owner is the respected publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the first no-fees digital brokerage operating in Canada.
How Does One Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it so simple to deposit to a new account. Just connect a chequing or savings account to your Trade account, and then fund your account in just a few steps. Deposits from financial institutions to Wealthsimple typically take just a couple of days. Funds can also be withdrawn a chequing or savings account using the same process.
What Other Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An alternative to Interac e-transfers that allows you to quickly and simply transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you require to get ready for this tax year and file your taxes online for free. It’s advertised as simple, accurate and always totally free tax filing.
Wealthsimple Spend – A combination pre paid debit card and savings account that lets one to earn 1% cashback on all your purchases, as well as get a competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform that includes a bunch of online courses on saving, investments, crypto, real estate and much more.
All of the above features, including Wealthsimple Trade may be found inside the mobile app and on their site with one login.
But How do I Get Started With Wealthsimple Trade?
Click here to create a Wealthsimple Trade account. As an exclusive registration bonus offer to our audience you will get the cash value of a random stock worth up to $4,500 Canadian when you add funds to your account.
So What if I Still Have Questions Related to Is Wealthsimple.legit?
If this article didn’t given you the answers to each of your questions, and you’re browsing for additional info relating to Is Wealthsimple.legit, visit the Wealthsimple site for answers to all your questions.