What is Wealthsimple?
Wealthsimple is a simple to use Canadian digital Financial, stocks and crypto trading platform that differentiates itself from similar apps by charging no fees.
A leading Canadian online financial services business launched in Autumn 2014 exclusively as a robo-advisor trading app named Wealthsimple Invest, it has changed significantly over the past eight years to also include Wealthsimple Trade, a no fee discount brokerage service.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade allows consumers to trade both individual stocks and ETFs without needing to pay any fees. The exception is when you’re trading stocks and ETFs which are displayed in USD currency. In this case, they charge a currency conversion fee when buying and selling. However, past us are the times of paying $7-12 for each trade with discount brokerages as was expected just a couple years ago.
Exactly How Much in Funds Will I Need to Have to Start Investing With Wealthsimple Trade?
Wealthsimple is special in that they allow new customers to make a minimum deposit of just $1. Most traditional banks and discount brokerages have sizeable initial deposit amounts of $1000-$5000. This makes it tough for the every day investor to start. With Wealthsimple Trade, you won’t have to be wealthy to get started with trading stocks and ETFs.
But Does Wealthsimple Trade Offer Registered Accounts?
They do. Wealthsimple Trade has available both CRA registered and non-CRA-registered accounts. One may select between both RRSP and TFSA account types during the setup process.
Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade offers a easy to use mobile app that is offered on both iOS and also Google Play. The app makes the signup phase and also the trading of stocks and ETFs incredibly easy.
But Is Wealthsimple Trade Trustworthy?
Of course. Wealthsimple Trade is safe. Wealthsimple reports over 15 billion Canadian of Assets Under Management (AUM). they’ve been operating for more than 7 years and also now employs more than 600 people. The primary shareholder is the large publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade is the first no-fee digital brokerage operating in Canada.
So How Does One Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it so simple to deposit to an account. Just connect a chequing or savings account with your Trade account, and add money to your account in only a few steps. Deposits from your bank to Wealthsimple typically take a couple of days. Funds can the same way can be moved back to your chequing or savings accounts by using the same steps.
What Additional Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An equivalent to e-Transfers which allow you to quickly and simply transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to get ready for tax year and file your tax return online free. It’s described as simple, accurate and always totally free income tax filing.
Wealthsimple Spend – A combination pre paid debit card and savings product that lets one to recieve 1% cashback on your purchases, and also earn a very competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform which offers a bunch of courses on topics like saving, investing, crypto, real estate and much more.
All of the listed products, including Wealthsimple Trade may be found in the mobile app and on the site with your Wealthsimple login.
How Should I Begin With Wealthsimple Trade?
Click here to setup a new Wealthsimple Trade account. For an exclusive registration bonus to our audience you’ll receive the equivalent cash value of a Canadian stock worth $25 up to $4,500 Canadian when you fund your account.
What if I Still Have Questions Related to Katchen Wealthsimple?
If this article hasn’t given you the answers to each of your questions, and you’re still browsing for more specific answers about Katchen Wealthsimple, go to the Wealthsimple website for answers to each your questions.