What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian online investing, stock plus crypto trading web app that differentiates itself from its competitors by charging no fees.
A leading Canadian online financial services company founded in the Autumn of 2014 exclusively as a robo-advisor trading platform called Wealthsimple Invest, it has evolved substantially over the previous 8 years to also include Wealthsimple Trade, a zero fees discount brokerage platform.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade allows investors to trade single stocks and also ETFs without having to pay commissions. The exception to this is when trading securities which are listed in US Dollars. In that case, they will charge a small currency conversion fee both when buying and selling. But, behind us are the times of having to pay $7-12 per trade with online discount brokerages as was common only a few years ago.
Exactly How Much Money do I Need in Order to Start Investing With Wealthsimple Trade?
Wealthsimple is awesome such that they will allow Canadians to make a minimum deposit of only $1. The majority of traditional banks and discount brokerages have large min deposit amounts of $1,000-$5,000. This makes it impossible for the everyday new investor to start investing. With Wealthsimple Trade, one doesn’t need to already be wealthy to begin trading stocks and ETFs.
So Does Wealthsimple Trade Have TFSA Accounts?
Of course. Wealthsimple Trade has available both registered and non-registered accounts. You are free to select between both RRSP and TFSA account types during the setup phase.
But Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade offers a modern mobile app that is offered on both iOS and also Android. The app makes the registration process and also trading of stocks and ETFs truly simple.
But Is Wealthsimple Trade Legit?
. Wealthsimple Trade is safe. Wealthsimple reports in excess of 15 billion Canadian of Assets Under Management . they’ve been doing business for more than 7 years and right now employs roughly 600 people. The controlling shareholder is the large public Canadian corporation Power Corp of Canada. Weapthsimple Trade is the very first no-fees online brokerage operating in Canada.
But How Does One Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it very easy to deposit to an account. Just connect the app to a chequing or savings account to your Trade account, and then add money to your account in only a couple of clicks. Deposits from your bank to Wealthsimple typically take a couple of days. Funds can the same way can be moved to a chequing or savings account by using the exact same process.
Which Other Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An equivalent to Interac e-transfers which allow you to quickly and efficiently send money to friends and family in Canada.
Wealthsimple Tax – Everything you require to get ready for tax year and file your taxes online free. It’s pitched to be simple, accurate and always free tax return filing.
Wealthsimple Spend – A combination prepaid visa and savings product that lets you to earn 1% cashback on all your everyday purchases, and also earn a very competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform that offers a ton of courses on different topics such as saving, investing, crypto, home buying and much more.
All of the listed products, along with Wealthsimple Trade may be accessed inside the mobile app or from the site with your Wealthsimple login.
So How do I Begin With Wealthsimple Trade?
Click here to signup for your Wealthsimple Trade account. As a special signup bonus offer for our readers you will receive the cash value of a random Canadian stock worth $25 up to $4,500 CAD as soon as you deposit to your account.
So What if I Still Have Questions Related to Reddit Wealthsimple Crypto?
If this article hasn’t answered each of your questions, and you’re looking for more facts relating to Reddit Wealthsimple Crypto, check out the Wealthsimple site for answers to all your questions.