What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian digital Financial, securities plus crypto trading web app that distinguishes itself from similar apps by charging no fees.
A Toronto, Ontario based online financial services company launched in the Fall of twenty fourteen originally as a robo advisor trading app named Wealthsimple Invest, it has changed substantially over the previous 8 years to feature Wealthsimple Trade, a no fees discount brokerage service.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade allows investors trade both single stocks and also ETFs without having to pay commissions. The exception is when you’re trading stocks and ETFs which are denominated in US Dollars. In that case, they do charge a nominal currency conversion fee when buying and selling. But, behind us are the days of having to pay Upwards of $7 for each trade with online discount brokerages as was common only a couple years ago.
Exactly How Much Cash do I Need to Have to Start Investing With Wealthsimple Trade?
Wealthsimple is special in that they allow Canadians to make a minimum deposit of just $1. Many alternative banks and brokerages have large min deposit amounts of 1k-5K. This makes it difficult for the typical new investor to start investing. With Wealthsimple Trade, one doesn’t need to be wealthy to start trading stocks and ETFs.
So Does Wealthsimple Trade Offer TFSA Accounts?
It does. Wealthsimple Trade offers registered and non-registered accounts. One may choose between both RRSP and TFSA account types during the setup phase.
So Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade has a well designed mobile app offered to download on both iOS and also Android. The smartphone app makes the enrollment process and the trading of stocks and ETFs simple.
But Is Wealthsimple Trade Secure?
Definitely. Wealthsimple Trade is safe. Wealthsimple boasts over 15 billion CAD in Assets Under Management . This company has been expanding for more than 7 years and currently employs roughly 600 Canadians. The primary shareholder is the public Canadian company Power Corp of Canada. Weapthsimple Trade was the first no-fee online discount brokerage to operate in Canada.
How Can I Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it very straight forward to add funds to an account. Simply connect to a chequing or savings account with your Trade account, then add funds to your account in simply a few clicks. Deposits from banks to Wealthsimple typically take only a couple of days. Funds can also be withdrawn a chequing or savings account using the exact same steps.
What Additional Benefits and Products Are Available?
Wealthsimple Cash – An equivalent to E-transfers which allows one to quickly and easily transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to prepare for tax year and file your taxes online free. It’s described as simple, accurate and always free tax return filing.
Wealthsimple Spend – A combination pre paid debit card and savings product that allows you to earn 1% cashback on all your everyday spending, and also earn a very competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform which includes a ton of different online courses on saving, investing, crypto, home buying and more.
All of the listed products, along with Wealthsimple Trade may be found on the mobile app and on their site with your Wealthsimple login.
But How Can I Start Using Wealthsimple Trade?
Click here to signup for your Wealthsimple Trade account. As an exclusive signup bonus to our audience you will receive the equivalent cash value of a Canadian stock valued at $25 up to $4,500 CAD when you make an initial deposit to your account.
But What if I Still Have Additional Questions Related to Us Stocks Wealthsimple Reddit?
If this article didn’t answered all of your questions, and you’re still looking for additional specific facts about Us Stocks Wealthsimple Reddit, go to the Wealthsimple website for answers to each your questions.