What is Wealthsimple?
Wealthsimple is an easy to use Canadian online investing, securities and crypto trading app that sets itself apart from similar apps by charging no fees.
A fintech company launched in Fall of twenty fourteen exclusively as a robo-advisor automated trading app named Wealthsimple Invest, it has changed substantially over the past 8 years to include Wealthsimple Trade, a zero fee discount brokerage app.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade allows Canadian consumers trade both single stocks and ETFs without paying commissions. The exception is when trading stocks and ETFs that are displayed in US Dollars. In that case, they do charge a currency conversion fee when buying and selling. But, past us are the days of having to pay $7-12 per each trade with discount brokerages as was the norm a couple years ago.
How Much in Funds Will I Need in Order to Begin Investing on Wealthsimple Trade?
Wealthsimple is special in that they allow investors to make a minimum deposit of only $1. Many traditional banks and discount brokerages have sizeable minimum deposit amounts of $1,000-$5,000. This makes it tough for the typical new investor to get started. With Wealthsimple Trade, you don’t have to already be wealthy to start trading stocks and ETFs.
But Does Wealthsimple Trade Offer TFSA Accounts?
They do. Wealthsimple Trade has both CRA registered and non-CRA-registered accounts. You are able to choose both RRSP and TFSA account types in the setup process.
Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade offers a well designed mobile app that is offered on iOS and Android. The mobile app makes the enrollment process and also the trading of stocks and ETFs truly a breeze.
But Is Wealthsimple Trade Secure?
. Wealthsimple Trade is secure. Wealthsimple reports more than 15 billion Canadian of Assets Under Management . They have been operating for more than 7 years and also currently employs about 600 people. The controlling shareholder is the large publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the very first no-fee online brokerage to operate in Canada.
So How Does One Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it very easy to deposit to your new account. Just connect the app to a chequing or savings account to your Trade account, and add funds to your account in just a few clicks. Deposits from your bank to Wealthsimple typically take a few days. Funds can also be moved to a chequing or savings accounts through the same steps.
What Additional Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – An equivalent to e-transfers that allow anyone to quickly and simply transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for tax year and submit your tax return online for free. It’s pitched to be easy, accurate and always totally free income tax filing.
Wealthsimple Spend – A combination prepaid debit card and savings account which lets you to earn 1% cashback on all your everyday purchases, as well as earn a competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform which includes a ton of courses on different topics such as saving, investments, crypto, home buying and more.
All of the mentioned products, along with Wealthsimple Trade may be accessed on the mobile app and from the website with a single login.
How Can I Get Started Using Wealthsimple Trade?
Click here to create a new Wealthsimple Trade account. For an exclusive registration bonus to our readers you will get the equivalent cash value of a random Canadian stock worth $25 up to $4,500 CAD when you make an initial deposit to your account.
So What if I Still Have Additional Questions Related to Vanguard S&p 500 Etf Wealthsimple?
If this blog post still hasn’t answered each of your questions, and you’re looking for additional specific information relating to Vanguard S&p 500 Etf Wealthsimple, check out the Wealthsimple site to find answers to each your questions.