What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian digital investing, securities and crypto trading platform that distinguishes itself from the competition by charging absolutely no fees.
A Toronto, Ontario based fintech company launched in the Autumn of twenty fourteen originally as a robo advisor algorithmic trading platform called Wealthsimple Invest, it has grown considerably over the last 8 years to feature Wealthsimple Trade, a zero fee discount brokerage platform.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade allows Canadian consumers to trade both individual stocks and also ETFs without paying commissions. The exception is when you’re trading stocks and ETFs which are displayed in US Dollars. In which case, they charge a currency conversion fee both when buying and selling. However, past us are the days of having to pay $7-12 for each trade with digital discount brokerages as was expected only a few years past.
How Much in Funds do I Need to Get Started With Wealthsimple Trade?
Wealthsimple is cool such that they will allow Canadian investors to make a minimum deposit of only $1. The majority of alternative banks and brokerages have sizeable initial deposit amounts of 1K-$5,000. This makes it impossible for the normal new investor to start investing. With Wealthsimple Trade, one doesn’t need to already be wealthy to begin trading stocks and ETFs.
Does Wealthsimple Trade Offer RRSP Accounts?
They do. Wealthsimple Trade offers both registered and non-registered account types. One can choose between both RRSP and TFSA accounts in the setup process.
Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade has a convenient mobile app offered on both Apple and also Android. The app makes the enrollment process and also trading of stocks and ETFs very simple.
So Is Wealthsimple Trade Legit?
Definitely. Wealthsimple Trade is secure. Wealthsimple boasts in excess of 15 billion Canadian of Assets Under Management . They have been operating for more than 7 years and also right now employs more than 600 folks. The controlling owner is the large publicly traded Canadian entity Power Corp of Canada. Weapthsimple Trade was the first no-fees digital discount brokerage operating in Canada.
But How Do I Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it easy to fund your new account. Simply connect the app to a chequing or savings account with your Trade account, and then add money to your account in just a few steps. Deposits from your bank to Wealthsimple typically take a couple of days. Funds can also be moved to your chequing or savings accounts using the same process.
Which Other Benefits and Products Are Available?
Wealthsimple Cash – An equivalent to Interac E-Transfers that allow one to quickly and simply transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to prepare for this tax season and submit your taxes online free. It’s advertised as easy, accurate and always totally free income tax filing.
Wealthsimple Spend – A hybrid pre paid debit card and savings account which lets one to earn 1% cashback on all your everyday purchases, as well as get a very competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform which offers a ton of courses on saving, investing, crypto, mortgages and much more.
Every one of the mentioned features, including Wealthsimple Trade can be accessed inside the app or at the website with your Wealthsimple login.
But How Should I Begin With Wealthsimple Trade?
Click here to register for your Wealthsimple Trade account. For an exclusive signup bonus offer to our audience you’ll receive the cash value of a random share worth $25 up to $4,500 Canadian when you make an initial deposit to your account.
What if I Still Have Additional Questions Concerning Netcoins Vs Wealthsimple?
If this review hasn’t given you the answers to each of your questions, and you’re still looking for additional specific answers relating to Netcoins Vs Wealthsimple, visit the Wealthsimple site to get answers to each your questions.