What is Wealthsimple?
Wealthsimple is a simple to use Canadian online Financial, securities plus crypto trading app that distinguishes itself from other apps by charging no fees.
A online financial services company launched in the Fall of twenty fourteen exclusively as a robo advisor automated trading app called Wealthsimple Invest, it has evolved significantly over the past eight years to include Wealthsimple Trade, a no fees discount brokerage service.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade lets Canadian investors trade stand alone stocks and also ETFs without paying any fees. The exception is when trading ETFs and stocks which are denominated in USD. In that case, they do charge a nominal currency conversion fee when buying and selling. However, past us are the times of paying more than $7 per each trade with discount brokerages as was common only a few years ago.
Exactly How Much in Funds do I Need in Order to Begin Investing With Wealthsimple Trade?
Wealthsimple is unique such that they will allow Canadian investors to make a minimum deposit of only $1. The majority of traditional banks and discount brokerages have quite large min deposit amounts of $1,000-5K. This makes it tough for the normal new investor to start. With Wealthsimple Trade, you won’t need to be wealthy to get started with trading stocks and ETFs.
Does Wealthsimple Trade Have Registered Accounts?
It does. Wealthsimple Trade has available both CRA registered and non-registered accounts. You may choose both RRSP and TFSA account types in the setup phase.
So Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade offers a easy to use mobile app that is available to download on both Apple and Google Play. The app makes the enrollment phase and also the trading of stocks and ETFs truly simple.
Is Wealthsimple Trade Safe?
For sure. Wealthsimple Trade is legit. Wealthsimple has in excess of 15 billion CAD in Assets Under Management . These folks have been doing business for more than 7 years and also at this time employs about 600 folks. The majority owner is the admired publicly traded Canadian entity Power Corp of Canada. Weapthsimple Trade was the very first no-fee online discount brokerage operating in Canada.
How Can I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it so easy to fund your account. Simply connect the app to a chequing or savings account with your Trade account, and add funds to your account in simply a couple of steps. Deposits from banks to Wealthsimple normally take just a couple of days. Funds can also be moved to your chequing or savings accounts using the same steps.
Which Other Features and Products Are Available?
Wealthsimple Cash – An equivalent to e-Transfers that allows one to quickly and easily transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for tax year and submit your taxes online for free. It’s advertised as simple, accurate and always free tax filing.
Wealthsimple Spend – A combination prepaid visa and savings account that allows you to recieve 1% cashback on all your spending, and also get a very competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform that includes a bunch of different online courses on topics like saving, investing, crypto, real estate and much more.
All of the listed features, including Wealthsimple Trade can be found on the app or from their website with one login.
But How Should I Get Started Using Wealthsimple Trade?
Click here to register for a Wealthsimple Trade account. For a special registration bonus offer to our audience you will receive the equivalent cash value of a share worth $25 up to $4,500 Canadian once you deposit to your account.
What if I Still Have Questions Related to Stocks To Buy On Wealthsimple?
If this review didn’t given you the answers to all of your questions, and you’re still browsing for more answers about Stocks To Buy On Wealthsimple, visit the Wealthsimple website to find answers to each your questions.