What is Wealthsimple?
Wealthsimple is a simple to use Canadian web based investing, stocks plus crypto trading web app that distinguishes itself from the competition by charging absolutely no fees.
A Toronto, Ontario based online financial services business founded in the Autumn twenty fourteen exclusively as a robo advisor trading app named Wealthsimple Invest, it has changed substantially over the previous 8 years to also include Wealthsimple Trade, a zero fees discount brokerage service.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade allows consumers trade both single stocks and also ETFs without needing to pay commissions. The exception to this is when trading stocks which are listed in USD. In this case, they do charge a currency conversion fee when buying and selling. However, gone are the days of paying more than $7 for each trade with digital discount brokerages as was the case a few years past.
Exactly How Much Money Will I Need to Have to Begin Investing on Wealthsimple Trade?
Wealthsimple is unique such that they will allow Canadians to make a minimum deposit of only $1. Most alternative banks and discount brokerages have quite large minimum deposit amounts of 1k-$5000. This makes it tough for the common investor to start investing. With Wealthsimple Trade, you won’t need to already be wealthy to start trading stocks and ETFs.
But Does Wealthsimple Trade Offer Registered Accounts?
It does. Wealthsimple Trade has registered and non-registered account types. You are free to select between both RRSP and TFSA account types during the setup process.
But Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade offers a modern mobile app that is offered to download on IOS and also Google Play. The app makes the registration phase and trading of stocks and ETFs painless.
So Is Wealthsimple Trade Secure?
. Wealthsimple Trade is safe. Wealthsimple boasts more than 15 billion CAD of Assets Under Management . They have been doing business for more than 7 years and also currently employs roughly 600 folks. The controlling owner is the large publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade is the very first no-fee digital brokerage to operate in Canada.
How Does One Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it very simple to add money to your account. Just connect a chequing or savings account to your Trade account, then fund your account in only a couple of steps. Deposits from financial institutions to Wealthsimple normally take only a few days. Funds can also be moved to a chequing or savings accounts through the exact same method.
Which Other Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is alternative to e-Transfers which allows you to quickly and efficiently send money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to prepare for this tax year and submit your tax return online for free. It’s advertised to be simple, accurate and always totally free tax return filing.
Wealthsimple Spend – A hybrid prepaid debit card and savings account which lets you to earn 1% cashback on your spending, as well as earn a very competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform that offers a variety of different online courses on different topics such as saving, investing, crypto, real estate and much more.
Each of the listed features, including Wealthsimple Trade may be accessed inside the mobile app or from their website with a single login.
But How do I Start Using Wealthsimple Trade?
Click here to create your Wealthsimple Trade account. As a special signup bonus offer for our audience you will get the equivalent cash value of a stock worth up to $4,500 Canadian when you make an initial deposit to your account.
What if I Still Have Questions Related to Limit Order Wealthsimple?
If this blog post still hasn’t given you the answers to all of your questions, and you’re still browsing for additional specific info about Limit Order Wealthsimple, go to the Wealthsimple site for answers to each your questions.