What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian web based Financial, stocks plus crypto trading platform that distinguishes itself from other apps by charging no fees.
A leading Canadian online financial services business launched in the Autumn twenty fourteen exclusively as a robo advisor trading app called Wealthsimple Invest, it has improved substantially over the past eight years to feature Wealthsimple Trade, a no fees discount brokerage service.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade lets Canadian investors trade both individual stocks and ETFs without paying commissions. The exception to this is when you’re trading stocks and ETFs that are displayed in USD currency. In which case, they charge a currency conversion fee both when buying and selling. However, gone are the times of having to pay Upwards of $7 per trade with discount brokerages as was the norm a couple years past.
How Much in Funds Will I Need to Get Started With Wealthsimple Trade?
Wealthsimple is cool such that they allow Canadian investors to make a minimum deposit of only $1. The majority of alternative banks and discount brokerages have sizeable minimum deposit amounts of 1K-5K. This makes it difficult for the typical new investor to get started. With Wealthsimple Trade, one doesn’t need to already be wealthy to get started with trading stocks and ETFs.
Does Wealthsimple Trade Have TFSA Accounts?
Yes. Wealthsimple Trade has CRA registered and non-registered accounts. One may choose between both RRSP and TFSA account types during the setup wizard.
But Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade offers a convenient mobile app that is offered on Apple and also Google Play. The mobile app makes the registration steps and also the trading of stocks and ETFs truly painless.
But Is Wealthsimple Trade Safe?
Of course. Wealthsimple Trade is safe. Wealthsimple reports in excess of 15 billion Canadian in Assets Under Management (AUM). This company has been in business for more than 7 years and also currently employs over 600 people. The main shareholder is the large public Canadian company Power Corp of Canada. Weapthsimple Trade is the first no-fee digital discount brokerage operating in Canada.
How Can I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it incredibly simple to add funds to an account. Simply connect a chequing or savings account with your Trade account, then add funds to your account in only a couple of clicks. Deposits from banks to Wealthsimple usually take a couple of days. Funds can just as easily be moved back to your chequing or savings account by the same steps.
What Additional Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is equivalent to E-Transfers that allow anyone to quickly and simply send cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to get ready for this tax year and file your taxes online for free. It’s pitched as simple, accurate and always free tax return filing.
Wealthsimple Spend – A combination pre paid debit card and savings account that allows you to earn 1% cashback on your everyday spending, and also get a competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform that includes a ton of different courses on different topics such as saving, investments, crypto, home buying and more.
All of the listed features, including Wealthsimple Trade can be accessed inside the app or at their website with one login.
So How Should I Begin With Wealthsimple Trade?
Click here to create a new Wealthsimple Trade account. As an exclusive signup bonus offer to our readers you’ll receive the cash value of a share valued at $25 up to $4,500 Canadian when you make an initial deposit to your account.
But What if I Still Have Additional Questions Related to Otc Wealthsimple?
If this review still hasn’t answered all of your questions, and you’re still looking for more specific info relating to Otc Wealthsimple, visit the Wealthsimple website for answers to every one of your questions.