What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian digital investing, securities and crypto trading app that distinguishes itself from similar apps by charging absolutely no fees.
A leading Canadian fintech business launched in Fall of twenty fourteen originally as a robo-advisor trading platform named Wealthsimple Invest, it has evolved considerably over the previous eight years to also include Wealthsimple Trade, a zero fee discount brokerage platform.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade lets Canadian consumers trade both single stocks and also ETFs without needing to pay any fees. The exception is when you’re trading stocks and ETFs which are denominated in US Dollars. In which case, they will charge a nominal currency conversion fee when buying and selling. However, gone are the times of paying more than $7 for each trade with online discount brokerages as was expected just a few years past.
Exactly How Much in Funds Will I Need in Order to Start on Wealthsimple Trade?
Wealthsimple is cool in that they allow investors to make a minimum deposit of just $1. Most alternative banks and brokerages have quite large initial deposit amounts of $1,000-$5,000. This makes it impossible for the common investor to get started. With Wealthsimple Trade, you don’t need to be wealthy to begin trading stocks and ETFs.
Does Wealthsimple Trade Have Registered Accounts?
They do. Wealthsimple Trade has both registered and non-registered account types. You are free to select both RRSP and TFSA account types in the setup wizard.
Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade offers a well designed mobile app that is available to download on both iOS and also Google Play. The mobile app makes the signup phase and trading of stocks and ETFs super painless.
But Is Wealthsimple Trade Safe?
. Wealthsimple Trade is safe. Wealthsimple has in excess of 15 billion CAD in Assets Under Management . This company has been in business for more than 7 years and also at this time employs more than 600 folks. The controlling shareholder is the respected public Canadian entity Power Corp of Canada. Weapthsimple Trade is the first no-fee online brokerage operating in Canada.
But How Can I Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it so simple to add money to an account. Just connect to a chequing or savings account to your Trade account, then fund your account in only a few clicks. Deposits from financial institutions to Wealthsimple typically take just a couple of days. Funds can just as easily be withdrawn your chequing or savings accounts by using the same method.
Which Additional Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An alternative to e-Transfers that allow one to quickly and efficiently transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to get ready for this tax year and file your taxes online free. It’s advertised to be simple, accurate and always totally free income tax filing.
Wealthsimple Spend – A hybrid prepaid visa and savings product that allows you to recieve 1% cashback on your purchases, and also get a very competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform which offers a variety of online courses on different topics such as saving, investments, crypto, mortgages and more.
Each of the above products, including Wealthsimple Trade can be accessed within the app and from the website with your Wealthsimple login.
How Should I Start Using Wealthsimple Trade?
Click here to setup a new Wealthsimple Trade account. As a special signup bonus to our audience you will get the cash value of a random share worth $25 up to $4,500 CAD as soon as you add funds to your account.
What if I Still Have Questions Concerning Mushroom Stocks On Wealthsimple?
If this blog post still hasn’t given you the answers to all of your questions, and you’re still looking for further specific facts relating to Mushroom Stocks On Wealthsimple, visit the Wealthsimple website to find answers to every one of your questions.