What is Wealthsimple?
Wealthsimple is an easy to use Canadian digital investing, securities plus crypto trading platform that distinguishes itself from its competitors by charging absolutely no fees.
A Toronto, Ontario based fintech company launched in Autumn of twenty fourteen exclusively as a robo advisor algorithmic trading app called Wealthsimple Invest, it has grown substantially over the previous 8 years to also feature Wealthsimple Trade, a no fees discount brokerage service.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade lets investors trade both individual stocks and also ETFs without paying any commissions. The exception is when you’re trading ETFs and stocks that are denominated in US Dollars. In which case, they will charge a currency conversion fee when buying and selling. However, gone are the days of having to pay Upwards of $7 for each trade with digital discount brokerages as was expected just a few years ago.
How Much Money Will I Need to Have in Order to Get Started With Wealthsimple Trade?
Wealthsimple is cool such that they allow new customers to make a minimum deposit of only $1. The majority of alternative banks and brokerages have quite large initial deposit amounts of $1,000-5K. This makes it impossible for the every day new investor to start. With Wealthsimple Trade, you won’t need to be wealthy to begin trading stocks and ETFs.
Does Wealthsimple Trade Offer TFSA Accounts?
They do. Wealthsimple Trade has available CRA registered and non-CRA-registered account types. One are free to choose between both RRSP and TFSA account types in the setup process.
So Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade offers a easy to use mobile app that is available on both iOS and Android. The smartphone app makes the signup phase and also trading of stocks and ETFs easy.
But Is Wealthsimple Trade Trustworthy?
Definitely. Wealthsimple Trade is safe. Wealthsimple boasts more than 15 billion Canadian in Assets Under Management . they’ve been in business for more than 7 years and also at this time employs over 600 Canadians. The primary owner is the admired public Canadian entity Power Corp of Canada. Weapthsimple Trade is the very first no-fees online brokerage operating in Canada.
But How Do I Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it simple to fund an account. Just connect a chequing or savings account with your Trade account, and fund your account in just a couple of clicks. Deposits from your bank to Wealthsimple typically take just a couple of days. Funds can just as easily be moved to your chequing or savings accounts by the same steps.
What Additional Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is equivalent to e-Transfers which allow anyone to quickly and simply transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to get ready for tax year and file your taxes online for free. It’s pitched as easy, accurate and always totally free tax return filing.
Wealthsimple Spend – A hybrid prepaid visa and savings product that allows one to earn 1% cashback on your everyday spending, and also earn a competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform that offers a variety of different online courses on saving, investments, crypto, home buying and more.
Each of the listed features, including Wealthsimple Trade may be accessed on the app and at the website with one login.
How do I Start With Wealthsimple Trade?
Click here to create your Wealthsimple Trade account. For a special signup bonus offer for our readers you will receive the equivalent cash value of a random share worth $25 up to $4,500 Canadian when you fund your account.
So What if I Still Have Additional Questions Related to Shiba Inu Wealthsimple?
If this review hasn’t answered each of your questions, and you’re still looking for more specific information about Shiba Inu Wealthsimple, visit the Wealthsimple site for answers to all your questions.