What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian web based Financial, stock and crypto trading web app that differentiates itself from its competitors by charging absolutely no fees.
A Toronto, Ontario based online financial services company founded in Fall of twenty fourteen originally as a robo-advisor automated trading platform named Wealthsimple Invest, it has improved considerably over the previous eight years to also feature Wealthsimple Trade, a no fee discount brokerage platform.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade lets consumers to trade both stand alone stocks and also ETFs without having to pay any fees. The exception to this is when you’re trading ETFs and stocks which are listed in USD. In which case, they will charge a currency conversion fee both when buying and selling. However, behind us are the days of paying $7-12 for each trade with discount brokerages as was common just a few years ago.
Exactly How Much Money Will I Need to Have to Get Started on Wealthsimple Trade?
Wealthsimple is special in that they will allow Canadian investors to make a minimum deposit of just $1. The majority of traditional banks and brokerages have quite large initial deposit amounts of $1,000-$5000. This makes it tough for the normal investor to start. With Wealthsimple Trade, you don’t have to already be wealthy to get started with trading stocks and ETFs.
Does Wealthsimple Trade Have Registered Accounts?
They do. Wealthsimple Trade has CRA registered and non-CRA-registered account types. One can select between both RRSP and TFSA accounts during the setup phase.
But Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade offers a well designed mobile app that is offered on IOS and Android. The smartphone app makes the registration phase and trading of stocks and ETFs simple.
Is Wealthsimple Trade Legit?
For sure. Wealthsimple Trade is legit. Wealthsimple boasts over 15 billion CAD of Assets Under Management (AUM). This company has been in business for more than 7 years and also currently employs roughly 600 people. The primary shareholder is the large public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the first no-fees online discount brokerage operating in Canada.
So How Do I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it easy to fund a new account. Simply connect a chequing or savings account to your Trade account, and then add funds to your account in simply a few clicks. Deposits from banks to Wealthsimple normally take just a few days. Funds can also be moved to your chequing or savings account with the same process.
Which Other Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is alternative to Interac E-Transfers which allow one to quickly and simply transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you require to get ready for tax season and submit your tax return online for free. It’s pitched as simple, accurate and always totally free tax return filing.
Wealthsimple Spend – A hybrid prepaid visa and savings account that allows you to recieve 1% cashback on all your spending, as well as earn a competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform which offers a variety of different courses on topics like saving, investing, crypto, mortgages and much more.
Each of the above products, along with Wealthsimple Trade may be found in the app and on their site with one login.
But How Can I Begin With Wealthsimple Trade?
Click here to setup a new Wealthsimple Trade account. As an exclusive registration bonus to our audience you’ll get the cash value of a random stock valued at $25 up to $4,500 Canadian when you add funds to your account.
What if I Still Have Questions About Wealthsimple 0.5 Fee Reddit?
If this article hasn’t given you the answers to each of your questions, and you’re still looking for more information about Wealthsimple 0.5 Fee Reddit, visit the Wealthsimple website for answers to each your questions.