What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian web based investing, securities and crypto trading app that differentiates itself from the competition by charging no fees.
A fintech business founded in Fall twenty fourteen originally as a robo-advisor trading platform called Wealthsimple Invest, it has changed substantially over the previous 8 years to feature Wealthsimple Trade, a no fees discount brokerage platform.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade allows consumers to trade both stand alone stocks and ETFs without paying fees. The exception to this is when you’re trading stocks and ETFs which are listed in USD currency. In which case, they do charge a currency conversion fee when buying and selling. However, gone are the days of having to pay Upwards of $7 per trade with online discount brokerages as was the case only a few years ago.
How Much in Funds Will I Need in Order to Start With Wealthsimple Trade?
Wealthsimple is special in that they allow investors to make a minimum deposit of only $1. Many traditional banks and brokerages have quite large min deposit amounts of 1k-$5000. This makes it hard for the everyday investor to start investing. With Wealthsimple Trade, you don’t have to already be wealthy to get started with trading stocks and ETFs.
So Does Wealthsimple Trade Offer Registered Accounts?
It does. Wealthsimple Trade has available both CRA registered and non-registered account types. One may choose between both RRSP and TFSA account types during the setup process.
So Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade offers a convenient mobile app that is available on both IOS and Google Play. The smartphone app makes the enrollment process and trading of stocks and ETFs super painless.
But Is Wealthsimple Trade Safe?
For sure. Wealthsimple Trade is legit. Wealthsimple has in excess of 15 billion Canadian in Assets Under Management . These folks have been operating for more than 7 years and currently employs about 600 people. The controlling owner is the large public Canadian entity Power Corp of Canada. Weapthsimple Trade was the first no-fee digital brokerage to operate in Canada.
But How Does One Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it so simple to add funds to an account. Simply connect to a chequing or savings account to your Trade account, and then add money to your account in simply a few steps. Deposits from financial institutions to Wealthsimple normally take a couple of days. Funds can just as easily be withdrawn your chequing or savings accounts using the same method.
Which Additional Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is equivalent to e-transfers which allow one to quickly and efficiently transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to prepare for this tax season and submit your tax return online free. It’s pitched to be simple, accurate and always totally free tax return filing.
Wealthsimple Spend – A combination prepaid visa and savings product that allows you to recieve 1% cashback on all your purchases, as well as earn a competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance platform which includes a ton of online courses on different topics such as saving, investing, crypto, mortgages and much more.
Each of the above features, including Wealthsimple Trade may be found on the mobile app and at the site with a single login.
But How Should I Start With Wealthsimple Trade?
Click here to register for your Wealthsimple Trade account. For an exclusive registration bonus to our audience you will receive the equivalent cash value of a random stock valued at up to $4,500 Canadian when you add funds to your account.
So What if I Still Have Additional Questions Related to Wealthsimple $40 Crypto?
If this article didn’t given you the answers to each of your questions, and you’re still browsing for further answers about Wealthsimple $40 Crypto, go to the Wealthsimple website to find answers to all your questions.