What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian online Financial, stock and crypto trading platform that differentiates itself from its competitors by charging absolutely no fees.
A leading Canadian online financial services business founded in the Autumn twenty fourteen exclusively as a robo advisor algorithmic trading platform called Wealthsimple Invest, it has grown considerably over the previous eight years to also feature Wealthsimple Trade, a zero fees discount brokerage app.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade lets Canadian investors to trade stand alone stocks and also ETFs without having to pay any fees. The exception to this is when you’re trading stocks which are displayed in US Dollars. In this case, they will charge a nominal currency conversion fee both when buying and selling. However, past us are the days of having to pay $7-12 for each trade with digital discount brokerages as was the norm only a couple years ago.
Exactly How Much Cash do I Need to Have in Order to Start on Wealthsimple Trade?
Wealthsimple is cool such that they allow Canadian investors to make a minimum deposit of just $1. Many traditional banks and brokerages have large initial deposit amounts of 1k-5K. This makes it difficult for the everyday new investor to get started. With Wealthsimple Trade, you won’t have to be wealthy to start trading stocks and ETFs.
So Does Wealthsimple Trade Offer Registered Accounts?
It does. Wealthsimple Trade has both registered and non-registered accounts. One may choose both RRSP and TFSA account types during the setup wizard.
Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade offers a easy to use mobile app available to download on iOS and also Google Play. The smartphone app makes the enrollment phase and trading of stocks and ETFs simple.
So Is Wealthsimple Trade Secure?
. Wealthsimple Trade is legit. Wealthsimple reports in excess of 15 billion CAD of Assets Under Management (AUM). This company has been in business for more than 7 years and also at this time employs roughly 600 people. The main owner is the public Canadian company Power Corp of Canada. Weapthsimple Trade is the very first no-fees digital brokerage operating in Canada.
But How Can I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it straight forward to deposit to an account. Just connect the app to a chequing or savings account with your Trade account, and then fund your account in just a few steps. Deposits from your bank to Wealthsimple usually take a few days. Funds can just as easily be moved to a chequing or savings account by using the same process.
Which Additional Benefits and Products Are Available?
Wealthsimple Cash – An alternative to E-Transfers which allows you to quickly and simply transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to get ready for this tax year and file your tax return online for free. It’s advertised to be easy, accurate and always totally free tax return filing.
Wealthsimple Spend – A combination prepaid visa and savings product that lets one to earn 1% cashback on all your purchases, and also earn a competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform which offers a bunch of different courses on different topics such as saving, investments, crypto, mortgages and much more.
Every one of the mentioned features, including Wealthsimple Trade may be found in the app or at the site with your Wealthsimple login.
How do I Get Started Using Wealthsimple Trade?
Click here to create your Wealthsimple Trade account. For an exclusive registration bonus to our audience you’ll receive the equivalent cash value of a random Canadian stock worth $25 up to $4,500 Canadian once you fund your account.
So What if I Still Have Additional Questions About Wealthsimple 13?
If this article still hasn’t given you the answers to each of your questions, and you’re browsing for more answers about Wealthsimple 13, go to the Wealthsimple site to find answers to all your questions.