Wealthsimple Review 2022: Wealthsimple 3 Day Hold Reddit

What is Wealthsimple?

Wealthsimple is a convenient and easy to use Canadian online Financial, stocks plus crypto trading platform that distinguishes itself from similar apps by charging absolutely no fees. 

A leading Canadian online financial services company launched in Fall of twenty fourteen exclusively as a robo-advisor trading app called Wealthsimple Invest, it has improved significantly over the previous eight years to also include Wealthsimple Trade, a zero fee discount brokerage platform.

Does Wealthsimple Trade Charge Any Type of Fees?

Wealthsimple Trade lets consumers trade both stand alone stocks and also ETFs without having to pay fees. The exception to this is when trading ETFs and stocks that are denominated in USD currency. In which case, they will charge a currency conversion fee when buying and selling. However, gone are the days of paying more than $7 for each trade with digital discount brokerages as was common only a few years ago.

How Much in Funds Will I Need in Order to Get Started on Wealthsimple Trade?

Wealthsimple is special in that they allow new customers to make a minimum deposit of just $1. The majority of traditional banks and discount brokerages have quite large initial deposit amounts of $1000-5k. This makes it impossible for the common new investor to get started. With Wealthsimple Trade, you don’t need to already be wealthy to begin trading stocks and ETFs.

Does Wealthsimple Trade Have TFSA Accounts?

Of course. Wealthsimple Trade has both registered and non-registered accounts. One can select between both RRSP and TFSA accounts in the setup phase. 

So Does Wealthsimple Trade Offer a Mobile App?

Yes, Wealthsimple Trade offers a convenient mobile app that is offered on both IOS and Google Play. The mobile app makes the registration steps and also trading of stocks and ETFs incredibly easy.

So Is Wealthsimple Trade Secure?

. Wealthsimple Trade is safe. Wealthsimple reports over 15 billion CAD in Assets Under Management . These folks have been operating for more than 7 years and also at this time employs roughly 600 Canadians. The main shareholder is the admired public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the very first no-fee digital discount brokerage to operate in Canada.

So How Does One Fund a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it incredibly straight forward to add funds to a new account. Simply connect the app to a chequing or savings account with your Trade account, and add funds to your account in simply a couple of steps. Deposits from your bank to Wealthsimple normally take just a couple of days. Funds can the same way can be moved back to a chequing or savings account using the same steps.

What Additional Benefits and Products Are Available?

Wealthsimple Cash – This is alternative to Interac E-Transfers that allow you to quickly and simply transfer cash 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 described to be easy, accurate and always free tax filing.

Wealthsimple Spend – A hybrid pre paid debit card and savings account that allows one to earn 1% cashback on all your everyday spending, as well as earn a very competitive 1.5% interest rate on savings.

Personal Finance 101 – This is Wealthsimple’s free personal finance platform that includes a variety of different online courses on saving, investments, crypto, home buying and more. 

Every one of the listed products, along with Wealthsimple Trade can be accessed inside the app or on the site with one login.

So How Can I Begin With Wealthsimple Trade?

Click here to create a new Wealthsimple Trade account. As an exclusive registration bonus offer to our audience you’ll receive the equivalent cash value of a share valued at $25 up to $4,500 CAD as soon as you fund your account.

What if I Still Have Additional Questions Related to Wealthsimple 3 Day Hold Reddit?

If this blog post hasn’t answered each of your questions, and you’re searching for further answers about Wealthsimple 3 Day Hold Reddit, visit the Wealthsimple site for answers to each your questions.