What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian web based investing, securities plus crypto trading app that sets itself apart from other apps by charging no fees.
A online financial services company launched in the Autumn twenty fourteen originally as a robo-advisor algorithmic automated trading app called Wealthsimple Invest, it has evolved considerably over the previous eight years to feature Wealthsimple Trade, a no fees discount brokerage platform.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade lets Canadian investors trade both individual stocks and also ETFs without paying any commissions. The exception is when you’re trading stocks and ETFs that are denominated in US Dollars. In that case, they charge a currency conversion fee both when buying and selling. However, gone are the times of paying $7-12 per trade with discount brokerages as was the case only a few years ago.
How Much Money do I Need to Have to Start With Wealthsimple Trade?
Wealthsimple is unique in that they allow Canadian investors to make a minimum deposit of just $1. The majority of traditional banks and discount brokerages have large min deposit amounts of $1,000-5K. This makes it tough for the common investor to start investing. With Wealthsimple Trade, you won’t have to be wealthy to start trading stocks and ETFs.
But Does Wealthsimple Trade Have TFSA Accounts?
Yes. Wealthsimple Trade has available both registered and non-CRA-registered accounts. You can select both RRSP and TFSA accounts in the setup wizard.
Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade has a well designed mobile app that is offered to download on IOS and also Google Play. The mobile app makes the registration phase and trading of stocks and ETFs incredibly easy.
But Is Wealthsimple Trade Legit?
. Wealthsimple Trade is legit. Wealthsimple reports over 15 billion Canadian of Assets Under Management . they’ve been in business for more than 7 years and also employs over 600 people. The majority shareholder is the large publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the first no-fees online discount brokerage to operate in Canada.
So How Does One Fund a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it so straight forward to fund an account. Just connect the app to a chequing or savings account to your Trade account, and then add money to your account in simply a few steps. Deposits from financial institutions to Wealthsimple normally take just a few days. Funds can the same way can be moved back to your chequing or savings accounts through the same process.
Which Additional Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is equivalent to Interac E-Transfers that allows you to quickly and efficiently send money to friends and family in Canada.
Wealthsimple Tax – Everything you require to prepare for tax season and submit your tax return online for free. It’s pitched to be simple, accurate and always free income tax filing.
Wealthsimple Spend – A hybrid pre paid debit card and savings account that lets you to recieve 1% cashback on your purchases, and also get a competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance platform that offers a variety of online courses on saving, investments, crypto, real estate and much more.
All of the mentioned products, along with Wealthsimple Trade can be accessed on the mobile app or at their site with a single login.
So How Can I Get Started Using Wealthsimple Trade?
Click here to signup for your Wealthsimple Trade account. For an exclusive registration bonus for our readers you’ll receive the cash value of a random share worth up to $4,500 Canadian when you fund your account.
What if I Still Have Questions Concerning Referral Code Wealthsimple?
If this review still hasn’t given you the answers to all of your questions, and you’re still looking for more specific information relating to Referral Code Wealthsimple, go to the Wealthsimple website to get answers to all your questions.