What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian online Financial, securities plus crypto trading web app that sets itself apart from its competitors by charging no fees.
A Toronto, Ontario based fintech business founded in Fall twenty fourteen exclusively as a robo-advisor algorithmic automated trading platform called Wealthsimple Invest, it has evolved substantially over the past eight years to also include Wealthsimple Trade, a no fee discount brokerage service.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade allows consumers to trade both single stocks and also ETFs without paying any commissions. The exception is when you’re trading stocks that are denominated in US Dollars. In that case, they will charge a small currency conversion fee both when buying and selling. But, behind us are the days of having to pay more than $7 per trade with online discount brokerages as was expected just a few years past.
How Much Money Will I Need in Order to Begin Investing With Wealthsimple Trade?
Wealthsimple is special in that they allow new customers to make a minimum deposit of only $1. Most traditional banks and discount brokerages have large min deposit amounts of $1,000-5k. This makes it impossible for the everyday investor to get started. With Wealthsimple Trade, you won’t need to already be wealthy to get started with trading stocks and ETFs.
But Does Wealthsimple Trade Have TFSA Accounts?
Yes. Wealthsimple Trade has both CRA registered and non-registered accounts. You can choose between both RRSP and TFSA account types in the setup process.
So Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade has a well designed mobile app that is available on both iOS and also Google Play. The smartphone app makes the registration steps and trading of stocks and ETFs a breeze.
So Is Wealthsimple Trade Safe?
. Wealthsimple Trade is secure. Wealthsimple boasts over 15 billion CAD in Assets Under Management (AUM). This company has been doing business for more than 7 years and now employs more than 600 people. The controlling shareholder is the respected publicly traded Canadian entity Power Corp of Canada. Weapthsimple Trade was the very first no-fee digital brokerage operating in Canada.
But How Do I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it incredibly straight forward to deposit to a new account. Simply connect a chequing or savings account to your Trade account, and fund your account in simply a couple of steps. Deposits from banks to Wealthsimple normally take just a couple of days. Funds can the same way can be moved to a chequing or savings account through the exact same process.
What Additional Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An alternative to Interac E-Transfers which allows one to quickly and simply transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you need to prepare for tax season and file your taxes online free. It’s described to be easy, accurate and always totally free tax return filing.
Wealthsimple Spend – A hybrid pre paid visa and savings product which lets you to earn 1% cashback on all your everyday purchases, and also get a competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform that includes a variety of online courses on different topics such as saving, investments, crypto, home buying and much more.
All of the above products, along with Wealthsimple Trade may be found within the mobile app and at their site with one login.
So How Can I Begin Using Wealthsimple Trade?
Click here to setup a new Wealthsimple Trade account. For an exclusive registration bonus offer to our readers you will get the cash value of a share valued at up to $4,500 CAD when you make an initial deposit to your account.
So What if I Still Have Additional Questions Related to Transfer Personal To Tfsa Wealthsimple?
If this review still hasn’t given you the answers to all of your questions, and you’re looking for additional specific info about Transfer Personal To Tfsa Wealthsimple, check out the Wealthsimple site to find answers to all your questions.