What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian online Financial, stock plus crypto trading platform that distinguishes itself from its competitors by charging absolutely no fees.
A Toronto, Ontario based online financial services business launched in the Fall of twenty fourteen exclusively as a robo-advisor algorithmic trading platform called Wealthsimple Invest, it has evolved considerably over the last 8 years to include Wealthsimple Trade, a zero fees discount brokerage app.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade lets investors to trade single stocks and also ETFs without needing to pay any commissions. The exception to this is when you’re trading stocks that are listed in USD currency. In which case, they will charge a currency conversion fee both when buying and selling. But, behind us are the times of having to pay more than $7 per each trade with online discount brokerages as was the case just a couple years past.
Exactly How Much in Funds Will I Need to Get Started on Wealthsimple Trade?
Wealthsimple is cool such that they allow new customers to make a minimum deposit of only $1. Most alternative banks and brokerages have quite large min deposit amounts of 1K-$5,000. This makes it tough for the typical new investor to start investing. With Wealthsimple Trade, you don’t need to be wealthy to start trading stocks and ETFs.
So Does Wealthsimple Trade Offer TFSA Accounts?
It does. Wealthsimple Trade has CRA registered and non-registered account types. One can choose between both RRSP and TFSA account types in the setup process.
So Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade has a easy to use mobile app that is available to download on iOS and Google Play. The mobile app makes the enrollment phase and also trading of stocks and ETFs incredibly simple.
Is Wealthsimple Trade Trustworthy?
Of course. Wealthsimple Trade is trustworthy. Wealthsimple has more than 15 billion CAD in Assets Under Management (AUM). This company has been doing business for more than 7 years and right now employs about 600 people. The controlling shareholder is the public Canadian entity Power Corp of Canada. Weapthsimple Trade was the very first no-fees digital brokerage to operate in Canada.
But How Does One Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it very simple to deposit to an account. Just connect a chequing or savings account to your Trade account, then fund your account in just a couple of steps. Deposits from financial institutions to Wealthsimple usually take just a couple of days. Funds can also be moved back to a chequing or savings account through the exact same process.
What Additional Features and Products Are Available?
Wealthsimple Cash – This is alternative to Interac E-Transfers which allow you to quickly and easily send money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to get ready for tax year and file your tax return online free. It’s pitched as easy, accurate and always totally free tax return filing.
Wealthsimple Spend – A combination pre paid visa and savings account that lets you to earn 1% cashback on all your everyday spending, as well as earn a very competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform that includes a ton of online courses on saving, investing, crypto, real estate and more.
Each of the above products, along with Wealthsimple Trade may be accessed on the mobile app and at their site with your Wealthsimple login.
But How do I Start With Wealthsimple Trade?
Click here to register for a new Wealthsimple Trade account. For an exclusive signup bonus to our audience you’ll receive the equivalent cash value of a random stock valued at $25 up to $4,500 CAD when you add funds to your account.
So What if I Still Have Questions Concerning Options Trading Wealthsimple?
If this blog post hasn’t answered all of your questions, and you’re browsing for further facts relating to Options Trading Wealthsimple, check out the Wealthsimple site to find answers to each your questions.