What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian web based investing, securities plus crypto trading web app that sets itself apart from the competition by charging absolutely no fees.
A leading Canadian online financial services company founded in the Fall of 2014 originally as a robo advisor algorithmic trading platform named Wealthsimple Invest, it has changed significantly over the past 8 years to also include Wealthsimple Trade, a zero fees discount brokerage service.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade lets Canadian consumers to trade stand alone stocks and also ETFs without needing to pay any fees. The exception is when you’re trading securities that are displayed in USD currency. In that case, they do charge a small currency conversion fee both when buying and selling. However, behind us are the days of having to pay $7-12 for each trade with digital discount brokerages as was expected only a couple years ago.
Exactly How Much Cash do I Need to Have in Order to Begin Investing With Wealthsimple Trade?
Wealthsimple is awesome such that they allow Canadian investors to make a minimum deposit of only $1. The majority of alternative banks and brokerages have sizeable minimum deposit amounts of $1000-$5,000. This makes it difficult for the everyday investor to get started. With Wealthsimple Trade, you don’t need to be wealthy to get started with trading stocks and ETFs.
So Does Wealthsimple Trade Offer RRSP Accounts?
It does. Wealthsimple Trade offers both CRA registered and non-CRA-registered accounts. One are able to select between both RRSP and TFSA accounts in the setup wizard.
Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade has a well designed mobile app available to download on IOS and Google Play. The mobile app makes the signup steps and the trading of stocks and ETFs very a breeze.
Is Wealthsimple Trade Legit?
Of course. Wealthsimple Trade is safe. Wealthsimple reports more than 15 billion CAD in Assets Under Management . This company has been expanding for more than 7 years and also now employs more than 600 folks. The primary owner is the large public Canadian entity Power Corp of Canada. Weapthsimple Trade was the first no-fees online brokerage to operate in Canada.
How Does One Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it so easy to fund an account. Simply connect to a chequing or savings account to your Trade account, and add funds to your account in only a few steps. Deposits from your bank to Wealthsimple normally take only a couple of days. Funds can the same way can be moved to a chequing or savings account with the exact same steps.
What Other Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is alternative to Interac E-Transfers that allow you to quickly and easily send cash to friends and family in Canada.
Wealthsimple Tax – Everything you require to get ready for this tax year and submit your taxes online for free. It’s advertised to be easy, accurate and always free tax filing.
Wealthsimple Spend – A hybrid pre paid debit card and savings product which allows one to earn 1% cashback on all your everyday purchases, as well as get a competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform which offers a variety of different online courses on saving, investing, crypto, real estate and much more.
Every one of the listed features, along with Wealthsimple Trade may be found within the mobile app or on their website with your Wealthsimple login.
How Can I Start With Wealthsimple Trade?
Click here to signup for your Wealthsimple Trade account. As an exclusive registration bonus to our readers you will receive the cash value of a random Canadian stock valued at $25 up to $4,500 CAD once you make an initial deposit to your account.
But What if I Still Have Additional Questions Related to Margin Account Wealthsimple?
If this article didn’t answered each of your questions, and you’re still looking for more specific info relating to Margin Account Wealthsimple, visit the Wealthsimple site to find answers to each your questions.