What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian web based investing, stocks plus crypto trading web app that differentiates itself from the competition by charging absolutely no fees.
A online financial services company launched in Autumn twenty fourteen exclusively as a robo advisor trading platform named Wealthsimple Invest, it has improved significantly over the previous 8 years to also include Wealthsimple Trade, a zero fee discount brokerage service.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade lets consumers to trade both stand alone stocks and ETFs without having to pay commissions. The exception is when you’re trading stocks and ETFs which are displayed in US Dollars. In which case, they charge a small currency conversion fee when buying and selling. But, past us are the times of having to pay Upwards of $7 per trade with online discount brokerages as was normal only a couple years past.
Exactly How Much Money do I Need to Start on Wealthsimple Trade?
Wealthsimple is unique such that they will allow investors to make a minimum deposit of only $1. Many traditional banks and discount brokerages have quite large min deposit amounts of 1K-$5,000. This makes it impossible for the every day investor to start. With Wealthsimple Trade, you don’t need to already be wealthy to start trading stocks and ETFs.
Does Wealthsimple Trade Offer Registered Accounts?
Yes. Wealthsimple Trade has available both CRA registered and non-registered accounts. One may select both RRSP and TFSA account types during the setup phase.
But Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade has a easy to use mobile app that is available to download on iOS and Android. The app makes the registration phase and also trading of stocks and ETFs very painless.
So Is Wealthsimple Trade Safe?
Most definitely. Wealthsimple Trade is safe. Wealthsimple boasts more than 15 billion Canadian of Assets Under Management (AUM). They have been expanding for more than 7 years and now employs over 600 Canadians. The main shareholder is the respected publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade is the very first no-fee digital brokerage operating in Canada.
So How Can I Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it very straight forward to add funds to your new account. Just connect to a chequing or savings account to your Trade account, and then add funds to your account in only a few clicks. Deposits from banks to Wealthsimple normally take just a couple of days. Funds can also be moved to your chequing or savings accounts with the exact same method.
Which Other Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is alternative to Interac e-transfers that allows one to quickly and easily transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to prepare for this tax season and submit your taxes online free. It’s advertised to be easy, accurate and always totally free income tax filing.
Wealthsimple Spend – A combination prepaid visa and savings account which allows you to get 1% cashback on your spending, and also earn a competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform that offers a ton of courses on saving, investments, crypto, mortgages and more.
Each of the mentioned products, along with Wealthsimple Trade may be found within the app and on the site with your Wealthsimple login.
But How do I Get Started Using Wealthsimple Trade?
Click here to signup for your Wealthsimple Trade account. For an exclusive registration bonus to our readers you will receive the cash value of a random share worth up to $4,500 Canadian when you make an initial deposit to your account.
But What if I Still Have Questions Concerning Tfsa Wealthsimple?
If this review hasn’t given you the answers to all of your questions, and you’re browsing for additional answers relating to Tfsa Wealthsimple, check out the Wealthsimple site to get answers to all your questions.