What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian digital investing, securities and crypto trading web app that sets itself apart from its competitors by charging no fees.
A Toronto, Ontario based fintech business launched in Autumn of twenty fourteen originally as a robo advisor algorithmic automated trading app called Wealthsimple Invest, it has grown significantly over the last eight years to include Wealthsimple Trade, a no fees discount brokerage service.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade lets Canadian consumers trade single stocks and also ETFs without paying any commissions. The exception is when you’re trading securities which are displayed in USD currency. In this case, they will charge a small currency conversion fee when buying and selling. However, gone are the times of paying $7-12 per each trade with online discount brokerages as was common a couple years ago.
How Much in Funds do I Need to Have to Begin Investing With Wealthsimple Trade?
Wealthsimple is unique in that they will allow investors to make a minimum deposit of only $1. Most alternative banks and brokerages have sizeable min deposit amounts of $1000-5K. This makes it difficult for the common investor to start investing. With Wealthsimple Trade, you don’t have to already be wealthy to get started with trading stocks and ETFs.
Does Wealthsimple Trade Have TFSA Accounts?
It does. Wealthsimple Trade has available CRA registered and non-registered accounts. One are free to select both RRSP and TFSA accounts in the setup phase.
Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade has a modern mobile app that is offered on both IOS and also Google Play. The app makes the registration phase and also the trading of stocks and ETFs very easy.
Is Wealthsimple Trade Legit?
Most definitely. Wealthsimple Trade is secure. Wealthsimple reports in excess of 15 billion Canadian in Assets Under Management . They have been in business for more than 7 years and right now employs more than 600 Canadians. The majority shareholder is the publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the very first no-fee online brokerage to operate in Canada.
How Can I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it incredibly simple to add money to your account. Simply connect to a chequing or savings account with your Trade account, then fund your account in just a few clicks. Deposits from banks to Wealthsimple usually take only a few days. Funds can just as easily be withdrawn a chequing or savings account using the same process.
What Additional Benefits and Products Are Available?
Wealthsimple Cash – This is alternative to Interac e-transfers which allow you to quickly and simply send money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for tax season and submit your tax return online for free. It’s advertised to be simple, accurate and always totally free income tax filing.
Wealthsimple Spend – A combination pre paid visa and savings product which allows one to get 1% cashback on your purchases, and also earn a competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform which includes a variety of different online courses on saving, investments, crypto, real estate and much more.
Every one of the above features, including Wealthsimple Trade can be found inside the app or on the site with a single login.
So How Should I Start With Wealthsimple Trade?
Click here to register for a Wealthsimple Trade account. For an exclusive signup bonus offer to our audience you’ll receive the cash value of a share worth up to $4,500 Canadian when you make an initial deposit to your account.
What if I Still Have Additional Questions Concerning New Crypto On Wealthsimple?
If this blog post hasn’t given you the answers to each of your questions, and you’re still browsing for additional specific answers about New Crypto On Wealthsimple, visit the Wealthsimple site to get answers to every one of your questions.