What is Wealthsimple?
Wealthsimple is an easy to use Canadian online Financial, stock and crypto trading platform that distinguishes itself from other apps by charging absolutely no fees.
A fintech business launched in Autumn of twenty fourteen exclusively as a robo advisor algorithmic automated trading platform named Wealthsimple Invest, it has changed considerably over the last eight years to include Wealthsimple Trade, a zero fee discount brokerage platform.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade allows consumers trade both individual stocks and ETFs without having to pay commissions. The exception is when trading ETFs and stocks that are denominated in US Dollars. In this case, they charge a small currency conversion fee when buying and selling. However, past us are the days of having to pay Upwards of $7 per each trade with discount brokerages as was the norm only a couple years ago.
How Much Money Will I Need to Have in Order to Start on Wealthsimple Trade?
Wealthsimple is unique such that they will allow new customers to make a minimum deposit of just $1. Most traditional banks and discount brokerages have quite large min deposit amounts of 1k-5K. This makes it tough for the normal new investor to start. With Wealthsimple Trade, you don’t need to be wealthy to get started with trading stocks and ETFs.
But Does Wealthsimple Trade Offer Registered Accounts?
Yes. Wealthsimple Trade has both CRA registered and non-CRA-registered accounts. You may choose between both RRSP and TFSA account types during the setup phase.
So Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade offers a well designed mobile app that is available on iOS and Android. The app makes the enrollment steps and the trading of stocks and ETFs very a breeze.
Is Wealthsimple Trade Legit?
Of course. Wealthsimple Trade is trustworthy. Wealthsimple has more than 15 billion CAD of Assets Under Management (AUM). they’ve been doing business for more than 7 years and also at this time employs over 600 Canadians. The majority shareholder is the large public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the very first no-fees online brokerage to operate in Canada.
So How Do I Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it easy to deposit to an account. Just connect a chequing or savings account to your Trade account, then add funds to your account in only a couple of clicks. Deposits from financial institutions to Wealthsimple typically take only a couple of days. Funds can also be withdrawn a chequing or savings account with the exact same process.
What Other Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is alternative to e-Transfers which allow you to quickly and easily send money to friends and family in Canada.
Wealthsimple Tax – Everything you require to get ready for tax year and submit your taxes online for free. It’s advertised as easy, accurate and always free tax return filing.
Wealthsimple Spend – A hybrid pre paid debit card and savings product that allows one to recieve 1% cashback on all your spending, as well as earn a very competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform which offers a bunch of different courses on different topics such as saving, investments, crypto, home buying and much more.
Every one of the listed products, including Wealthsimple Trade can be found inside the mobile app or at their website with a single login.
So How do I Begin Using Wealthsimple Trade?
Click here to signup for your Wealthsimple Trade account. As a special signup bonus to our audience you’ll receive the cash value of a random share valued at up to $4,500 CAD once you add funds to your account.
But What if I Still Have Additional Questions About Krista Duncan Wealthsimple?
If this blog post still hasn’t answered each of your questions, and you’re still searching for additional answers relating to Krista Duncan Wealthsimple, go to the Wealthsimple website for answers to every one of your questions.