What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian digital investing, stock and crypto trading app that distinguishes itself from the competition by charging no fees.
A leading Canadian online financial services company founded in the Autumn twenty fourteen exclusively as a robo advisor automated trading app named Wealthsimple Invest, it has changed substantially over the previous eight years to feature Wealthsimple Trade, a no fee discount brokerage app.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade lets Canadian investors to trade individual stocks and ETFs without having to pay commissions. The exception is when you’re trading stocks that are listed in USD currency. In which case, they do charge a small currency conversion fee both when buying and selling. But, past us are the days of having to pay Upwards of $7 for each trade with discount brokerages as was the case only a couple years past.
Exactly How Much Money do I Need to Have in Order to Start on Wealthsimple Trade?
Wealthsimple is unique such that they will allow Canadian investors to make a minimum deposit of only $1. Most alternative banks and brokerages have large minimum deposit amounts of $1000-5k. This makes it difficult for the typical investor to get started. With Wealthsimple Trade, you won’t have to already be wealthy to start trading stocks and ETFs.
So Does Wealthsimple Trade Have TFSA Accounts?
They do. Wealthsimple Trade offers registered and non-CRA-registered accounts. One are free to select between both RRSP and TFSA account types in the setup phase.
But Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade offers a well designed mobile app that is available on Apple and also Google Play. The app makes the registration process and trading of stocks and ETFs simple.
But Is Wealthsimple Trade Trustworthy?
Definitely. Wealthsimple Trade is legit. Wealthsimple boasts in excess of 15 billion Canadian of Assets Under Management . They have been doing business for more than 7 years and at this time employs roughly 600 folks. The primary owner is the respected publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade is the first no-fees online brokerage to operate in Canada.
But How Can I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it incredibly easy to deposit to an account. Simply connect to a chequing or savings account to your Trade account, and then add funds to your account in simply a couple of steps. Deposits from banks to Wealthsimple typically take just a few days. Funds can the same way can be withdrawn a chequing or savings accounts using the same process.
What Additional Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – An equivalent to Interac e-transfers that allows you to quickly and simply transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you require to get ready for this tax season and file your tax return online free. It’s advertised as easy, accurate and always free income tax filing.
Wealthsimple Spend – A hybrid pre paid debit card and savings account which lets one to get 1% cashback on all your everyday spending, and also get a very competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform that offers a ton of online courses on different topics such as saving, investing, crypto, real estate and much more.
Each of the mentioned products, including Wealthsimple Trade can be accessed within the app or at the website with one login.
So How do I Start Using Wealthsimple Trade?
Click here to register for your Wealthsimple Trade account. For a special registration bonus offer to our readers you’ll get the equivalent cash value of a share valued at $25 up to $4,500 Canadian when you add funds to your account.
So What if I Still Have Additional Questions Concerning Wealthsimple Acquisition?
If this review still hasn’t answered each of your questions, and you’re looking for more information about Wealthsimple Acquisition, check out the Wealthsimple site for answers to each your questions.