What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian web based investing, securities plus crypto trading web app that distinguishes itself from other apps by charging no fees.
A Toronto, Ontario based online financial services business founded in Fall of 2014 exclusively as a robo-advisor trading platform called Wealthsimple Invest, it has grown significantly over the past eight years to also feature Wealthsimple Trade, a no fee discount brokerage platform.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade allows investors to trade both single stocks and also ETFs without paying any fees. The exception to this is when you’re trading stocks which are denominated in USD. In this case, they do charge a currency conversion fee when buying and selling. But, gone are the times of paying Upwards of $7 for each trade with discount brokerages as was common only a few years ago.
Exactly How Much Money Will I Need to Have in Order to Get Started With Wealthsimple Trade?
Wealthsimple is special such that they will allow investors to make a minimum deposit of only $1. The majority of alternative banks and brokerages have large initial deposit amounts of $1000-$5000. This makes it tough for the everyday new investor to start. With Wealthsimple Trade, you won’t need to already be wealthy to get started with trading stocks and ETFs.
Does Wealthsimple Trade Have RRSP Accounts?
They do. Wealthsimple Trade has both CRA registered and non-registered accounts. You may choose both RRSP and TFSA account types during the setup process.
Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade offers a well designed mobile app that is available on Apple and also Google Play. The smartphone app makes the signup process and also trading of stocks and ETFs truly painless.
Is Wealthsimple Trade Trustworthy?
. Wealthsimple Trade is secure. Wealthsimple boasts more than 15 billion Canadian of Assets Under Management . they’ve been doing business for more than 7 years and now employs roughly 600 people. The main shareholder is the public Canadian entity Power Corp of Canada. Weapthsimple Trade is the first no-fees online discount brokerage to operate in Canada.
But How Can I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it simple to add money to your new account. Simply connect to a chequing or savings account to your Trade account, and then add funds to your account in simply a couple of steps. Deposits from banks to Wealthsimple usually take only a few days. Funds can just as easily be moved back to your chequing or savings accounts using the exact same steps.
Which Additional Features and Products Are Available?
Wealthsimple Cash – This is alternative to Interac e-Transfers which allow one to quickly and simply send money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to get ready for this tax season and file your tax return online free. It’s pitched as simple, accurate and always totally free tax filing.
Wealthsimple Spend – A combination prepaid debit card and savings account that lets you to earn 1% cashback on all your everyday purchases, as well as get a competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform that offers a variety of different online courses on saving, investing, crypto, home buying and more.
Every one of the mentioned features, including Wealthsimple Trade can be accessed in the mobile app or from their website with your Wealthsimple login.
How Should I Start Using Wealthsimple Trade?
Click here to register for a new Wealthsimple Trade account. As a special registration bonus to our audience you’ll receive the cash value of a random share worth up to $4,500 Canadian as soon as you make an initial deposit to your account.
What if I Still Have Questions Related to Penny Stocks On Wealthsimple Reddit?
If this article still hasn’t given you the answers to each of your questions, and you’re browsing for further specific facts relating to Penny Stocks On Wealthsimple Reddit, check out the Wealthsimple site to get answers to every one of your questions.