What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian web based investing, stocks and crypto trading app that differentiates itself from its competitors by charging absolutely no fees.
A online financial services business founded in Fall of twenty fourteen originally as a robo advisor algorithmic trading platform called Wealthsimple Invest, it has improved significantly over the past eight years to also feature Wealthsimple Trade, a zero fees discount brokerage service.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade lets consumers to trade individual stocks and also ETFs without having to pay commissions. The exception to this is when you’re trading stocks and ETFs which are listed in US Dollars. In this case, they charge a nominal currency conversion fee both when buying and selling. However, past us are the times of paying Upwards of $7 per trade with online discount brokerages as was common just a few years ago.
How Much in Funds do I Need to Have in Order to Start Investing With Wealthsimple Trade?
Wealthsimple is unique such that they allow Canadian investors to make a minimum deposit of just $1. Many alternative banks and brokerages have large min deposit amounts of $1,000-$5000. This makes it hard for the every day new investor to start. With Wealthsimple Trade, you won’t need to be wealthy to start trading stocks and ETFs.
Does Wealthsimple Trade Have Registered Accounts?
Of course. Wealthsimple Trade has available CRA registered and non-CRA-registered account types. One may choose both RRSP and TFSA accounts in the setup phase.
Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade has a well designed mobile app that is available to download on IOS and also Google Play. The smartphone app makes the registration process and the trading of stocks and ETFs super a breeze.
So Is Wealthsimple Trade Legit?
Definitely. Wealthsimple Trade is secure. Wealthsimple reports over 15 billion Canadian of Assets Under Management (AUM). This company has been operating for more than 7 years and also now employs over 600 people. The main owner is the admired publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade was the first no-fee digital discount brokerage operating in Canada.
So How Does One Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it simple to add money to a new account. Simply connect the app to a chequing or savings account to your Trade account, and add money to your account in only a couple of clicks. Deposits from your bank to Wealthsimple normally take just a few days. Funds can also be moved back to a chequing or savings accounts through the exact same process.
What Additional Features and Products Are Available?
Wealthsimple Cash – This is equivalent to E-Transfers that allow one to quickly and easily transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to get ready for tax year and submit your tax return online for free. It’s pitched as simple, accurate and always totally free tax return filing.
Wealthsimple Spend – A combination prepaid debit card and savings account that lets one to get 1% cashback on all your purchases, as well as earn a competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform which offers a bunch of different courses on saving, investments, crypto, mortgages and much more.
Each of the above products, including Wealthsimple Trade can be accessed within the app or on their website with your Wealthsimple login.
But How Should I Begin Using Wealthsimple Trade?
Click here to register for your Wealthsimple Trade account. As an exclusive registration bonus for our readers you’ll get the cash value of a random share valued at $25 up to $4,500 CAD as soon as you make an initial deposit to your account.
What if I Still Have Additional Questions Concerning Wealthsimple 0.75?
If this review hasn’t given you the answers to all of your questions, and you’re still browsing for more answers relating to Wealthsimple 0.75, check out the Wealthsimple site for answers to every one of your questions.