What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian web based Financial, securities plus crypto trading platform that differentiates itself from its competitors by charging no fees.
A leading Canadian online financial services company founded in Fall of 2014 exclusively as a robo advisor trading platform called Wealthsimple Invest, it has improved significantly over the last eight years to feature Wealthsimple Trade, a no fees discount brokerage app.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade allows Canadian consumers to trade both single stocks and also ETFs without having to pay any fees. The exception is when trading stocks and ETFs which are listed in USD. In this case, they do charge a small currency conversion fee both when buying and selling. However, gone are the days of having to pay $7-12 per trade with online discount brokerages as was common just a few years past.
Exactly How Much Cash do I Need to Get Started With Wealthsimple Trade?
Wealthsimple is unique in that they will allow investors to make a minimum deposit of only $1. Most traditional banks and discount brokerages have quite large min deposit amounts of $1000-5K. This makes it impossible for the common new investor to get started. With Wealthsimple Trade, you won’t have to already be wealthy to start trading stocks and ETFs.
But Does Wealthsimple Trade Offer Registered Accounts?
It does. Wealthsimple Trade offers both registered and non-registered account types. One are able to choose both RRSP and TFSA account types during the setup phase.
Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade offers a modern mobile app available on IOS and also Android. The app makes the enrollment steps and trading of stocks and ETFs super painless.
Is Wealthsimple Trade Safe?
For sure. Wealthsimple Trade is trustworthy. Wealthsimple reports in excess of 15 billion CAD in Assets Under Management (AUM). they’ve been doing business for more than 7 years and also currently employs about 600 people. The primary shareholder is the public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the very first no-fees online discount brokerage operating in Canada.
So How Does One Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it easy to add funds to an account. Just connect to a chequing or savings account with your Trade account, then add money to your account in just a few clicks. Deposits from financial institutions to Wealthsimple usually take a few days. Funds can the same way can be moved back to your chequing or savings account by the exact same method.
What Other Benefits and Products Are Available?
Wealthsimple Cash – This is equivalent to e-Transfers that allow one to quickly and efficiently send cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to prepare for tax year and file your tax return online free. It’s described as simple, accurate and always free tax filing.
Wealthsimple Spend – A hybrid prepaid visa and savings product that allows you to get 1% cashback on your purchases, and also earn a competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance platform that offers a ton of different courses on different topics such as saving, investing, crypto, home buying and more.
Every one of the mentioned products, including Wealthsimple Trade may be accessed on the mobile app and at the site with one login.
How Should I Start With Wealthsimple Trade?
Click here to setup a Wealthsimple Trade account. For a special signup bonus offer for our audience you will receive the cash value of a share worth $25 up to $4,500 CAD as soon as you make an initial deposit to your account.
What if I Still Have Additional Questions About Wealthsimple 750?
If this review didn’t given you the answers to each of your questions, and you’re looking for more specific facts about Wealthsimple 750, go to the Wealthsimple site to find answers to all your questions.