What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian digital investing, stock plus crypto trading platform that distinguishes itself from the competition by charging absolutely no fees.
A Toronto, Ontario based fintech business launched in Fall twenty fourteen originally as a robo advisor algorithmic trading platform called Wealthsimple Invest, it has grown significantly over the last 8 years to also include Wealthsimple Trade, a no fees discount brokerage app.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade lets consumers trade both individual stocks and also ETFs without needing to pay any commissions. The exception to this is when you’re trading securities that are listed in USD currency. In that case, they do charge a small currency conversion fee when buying and selling. But, gone are the days of having to pay Upwards of $7 per trade with online discount brokerages as was the norm just a few years past.
Exactly How Much Money Will I Need in Order to Begin Investing With Wealthsimple Trade?
Wealthsimple is special in that they allow new customers to make a minimum deposit of only $1. Many alternative banks and discount brokerages have sizeable initial deposit amounts of $1,000-5K. This makes it difficult for the everyday new investor to start. With Wealthsimple Trade, you won’t have to already be wealthy to start trading stocks and ETFs.
But Does Wealthsimple Trade Offer RRSP Accounts?
It does. Wealthsimple Trade has CRA registered and non-registered account types. One may select between both RRSP and TFSA account types in the setup process.
So Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade offers a well designed mobile app offered on both Apple and also Android. The smartphone app makes the enrollment steps and the trading of stocks and ETFs truly painless.
Is Wealthsimple Trade Safe?
Definitely. Wealthsimple Trade is safe. Wealthsimple boasts in excess of 15 billion Canadian in Assets Under Management . they’ve been expanding for more than 7 years and employs more than 600 folks. The controlling shareholder is the large public Canadian corporation Power Corp of Canada. Weapthsimple Trade was the very first no-fees online brokerage to operate in Canada.
But How Does One Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it so easy to deposit to your account. Just connect the app to a chequing or savings account to your Trade account, then fund your account in simply a few steps. Deposits from financial institutions to Wealthsimple normally take a few days. Funds can just as easily be moved back to your chequing or savings account by using the same steps.
What Other Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is alternative to e-transfers which allow anyone to quickly and efficiently send cash to friends and family in Canada.
Wealthsimple Tax – Everything you need to get ready for tax year and submit your taxes online for free. It’s pitched as simple, accurate and always totally free income tax filing.
Wealthsimple Spend – A hybrid prepaid debit card and savings product which lets one to recieve 1% cashback on your purchases, 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 ton of online courses on topics like saving, investments, crypto, real estate and much more.
All of the listed features, along with Wealthsimple Trade may be found within the mobile app and from their site with your Wealthsimple login.
How do I Begin Using Wealthsimple Trade?
Click here to create a new Wealthsimple Trade account. As a special signup bonus for our readers you’ll get the cash value of a random share valued at $25 up to $4,500 Canadian as soon as you fund your account.
But What if I Still Have Additional Questions About Wealthsimple 5 Day Hold?
If this review didn’t given you the answers to all of your questions, and you’re browsing for more facts about Wealthsimple 5 Day Hold, go to the Wealthsimple website to find answers to each your questions.