What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian digital investing, securities and crypto trading web app that distinguishes itself from similar apps by charging no fees.
A Toronto, Ontario based fintech company launched in the Autumn twenty fourteen originally as a robo-advisor algorithmic trading app named Wealthsimple Invest, it has evolved considerably over the last 8 years to include Wealthsimple Trade, a no fee discount brokerage platform.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade lets Canadian consumers to trade both stand alone stocks and ETFs without having to pay commissions. The exception is when trading securities which are denominated in USD currency. In this case, they charge a currency conversion fee both when buying and selling. However, gone are the times of paying $7-12 per trade with online discount brokerages as was the norm just a couple years ago.
Exactly How Much Money Will I Need to Have to Get Started on Wealthsimple Trade?
Wealthsimple is cool such that they will allow new customers to make a minimum deposit of just $1. Many alternative banks and brokerages have large minimum deposit amounts of $1,000-5k. This makes it difficult for the normal new investor to start investing. With Wealthsimple Trade, you won’t need to already be wealthy to begin trading stocks and ETFs.
So Does Wealthsimple Trade Offer Registered Accounts?
It does. Wealthsimple Trade offers both registered and non-CRA-registered account types. You are free to choose between both RRSP and TFSA account types during the setup process.
But Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade offers a convenient mobile app that is available to download on both IOS and Google Play. The app makes the registration process and also the trading of stocks and ETFs easy.
So Is Wealthsimple Trade Legit?
Definitely. Wealthsimple Trade is trustworthy. Wealthsimple boasts over 15 billion Canadian in Assets Under Management (AUM). This company has been operating for more than 7 years and employs over 600 Canadians. The main shareholder is the admired public Canadian entity Power Corp of Canada. Weapthsimple Trade was the very first no-fees online discount brokerage operating in Canada.
But How Can I Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it very simple to add money to your new account. Simply connect a chequing or savings account with your Trade account, and then fund your account in simply a couple of steps. Deposits from financial institutions to Wealthsimple usually take a couple of days. Funds can also be moved back to your chequing or savings account by the same method.
Which Other Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An equivalent to e-Transfers which allows you to quickly and simply send cash to friends and family in Canada.
Wealthsimple Tax – Everything you need to get ready for this tax season and submit your tax return online for free. It’s described as easy, accurate and always totally free tax filing.
Wealthsimple Spend – A hybrid pre paid debit card and savings product that lets one to get 1% cashback on your spending, as well as get a very competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform that offers a bunch of courses on different topics such as saving, investing, crypto, home buying and more.
Each of the listed features, including Wealthsimple Trade can be accessed inside the app or on the website with a single login.
But How do I Get Started 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 Canadian stock valued at $25 up to $4,500 Canadian once you add funds to your account.
So What if I Still Have Questions Concerning Norbert’s Gambit Wealthsimple Trade?
If this review hasn’t given you the answers to all of your questions, and you’re looking for more specific info relating to Norbert’s Gambit Wealthsimple Trade, visit the Wealthsimple website to get answers to all your questions.