What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian digital investing, stock plus crypto trading web app that distinguishes itself from its competitors by charging no fees.
A Toronto, Ontario based fintech company launched in Autumn of twenty fourteen exclusively as a robo advisor algorithmic automated trading platform named Wealthsimple Invest, it has evolved significantly over the previous 8 years to feature Wealthsimple Trade, a no fee discount brokerage service.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade allows consumers to trade both stand alone stocks and ETFs without having to pay fees. The exception to this is when trading securities which are denominated in USD currency. In which case, they will charge a currency conversion fee both 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 case a few years past.
Exactly How Much Cash do I Need to Have in Order to Start on Wealthsimple Trade?
Wealthsimple is special such that they allow Canadians to make a minimum deposit of just $1. Many traditional banks and brokerages have quite large initial deposit amounts of $1,000-$5000. This makes it tough for the typical new investor to start. With Wealthsimple Trade, you won’t need to be wealthy to get started with trading stocks and ETFs.
But Does Wealthsimple Trade Have TFSA Accounts?
Of course. Wealthsimple Trade has registered and non-CRA-registered account types. You are free to select both RRSP and TFSA account types in the setup process.
But Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade offers a modern mobile app offered on IOS and Google Play. The app makes the enrollment phase and also the trading of stocks and ETFs incredibly a breeze.
So Is Wealthsimple Trade Trustworthy?
Definitely. Wealthsimple Trade is secure. Wealthsimple boasts in excess of 15 billion Canadian in Assets Under Management (AUM). They have been in business for more than 7 years and also right now employs about 600 folks. The majority owner is the public Canadian company Power Corp of Canada. Weapthsimple Trade is the first no-fees online brokerage to operate in Canada.
How Do I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it simple to fund a new account. Just connect the app to a chequing or savings account with your Trade account, and then fund your account in simply a few steps. Deposits from banks to Wealthsimple typically take only a couple of days. Funds can also be moved to a chequing or savings account by using the same process.
What Other Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is alternative to Interac e-transfers which allows you to quickly and easily transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to get ready for tax season and file your tax return online free. It’s advertised as simple, accurate and always totally free tax filing.
Wealthsimple Spend – A combination pre paid visa and savings product which allows one to get 1% cashback on your spending, as well as get a competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform which includes a bunch of online courses on topics like saving, investments, crypto, home buying and more.
Each of the mentioned products, along with Wealthsimple Trade can be found within the mobile app and from their website with a single login.
How Can I Get Started With Wealthsimple Trade?
Click here to register for your Wealthsimple Trade account. As a special registration bonus offer to our audience you’ll get the equivalent cash value of a Canadian stock valued at $25 up to $4,500 CAD once you add funds to your account.
But What if I Still Have Additional Questions Concerning Wealthsimple 15 Minute Delay?
If this blog post hasn’t given you the answers to each of your questions, and you’re browsing for more specific answers about Wealthsimple 15 Minute Delay, check out the Wealthsimple website to get answers to all your questions.