What is Wealthsimple?
Wealthsimple is a simple to use Canadian online Financial, stocks plus crypto trading web app that differentiates itself from the competition by charging no fees.
A Toronto, Ontario based online financial services company founded in Autumn of twenty fourteen exclusively as a robo advisor algorithmic trading app called Wealthsimple Invest, it has changed substantially over the last eight years to include Wealthsimple Trade, a no fee discount brokerage platform.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade lets investors trade both single stocks and also ETFs without needing to pay any fees. The exception is when you’re trading ETFs and stocks that are displayed in USD. In this case, they do charge a small currency conversion fee when buying and selling. But, gone are the times of paying $7-12 per each trade with discount brokerages as was common a few years past.
Exactly How Much Cash do I Need to Start Investing on Wealthsimple Trade?
Wealthsimple is special such that they will allow Canadians to make a minimum deposit of only $1. Many alternative banks and brokerages have large minimum deposit amounts of $1,000-5K. This makes it tough for the every day new investor to start investing. With Wealthsimple Trade, one doesn’t need to already be wealthy to start trading stocks and ETFs.
But Does Wealthsimple Trade Have Registered Accounts?
Yes. Wealthsimple Trade offers both CRA registered and non-registered account types. You can select between both RRSP and TFSA account types in the setup wizard.
Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade offers a convenient mobile app that is available on Apple and Google Play. The mobile app makes the registration process and also trading of stocks and ETFs a breeze.
So Is Wealthsimple Trade Legit?
Most definitely. Wealthsimple Trade is trustworthy. Wealthsimple has over 15 billion Canadian in Assets Under Management (AUM). These folks have been expanding for more than 7 years and also at this time employs roughly 600 people. The main shareholder is the respected public Canadian entity Power Corp of Canada. Weapthsimple Trade is the first no-fees online brokerage operating in Canada.
So How Does One Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it quite simple to deposit to an account. Just connect a chequing or savings account with your Trade account, then fund your account in just a few steps. Deposits from financial institutions to Wealthsimple usually take just a couple of days. Funds can the same way can be withdrawn your chequing or savings account by using the exact same method.
Which Additional Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An equivalent to E-transfers that allow you to quickly and efficiently transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you require to prepare for this tax season and file your tax return online free. It’s described to be easy, accurate and always free tax filing.
Wealthsimple Spend – A combination prepaid debit card and savings product that lets one to earn 1% cashback on your everyday purchases, as well as get a very competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform which includes a bunch of online courses on topics like saving, investing, crypto, home buying and more.
Each of the listed products, including Wealthsimple Trade may be found on the app and on the site with a single login.
So How Should I Start With Wealthsimple Trade?
Click here to register for your Wealthsimple Trade account. As a special registration bonus offer for our readers you will get the equivalent cash value of a random share valued at $25 up to $4,500 Canadian when you fund your account.
But What if I Still Have Additional Questions About Wealthsimple Dividends?
If this blog post still hasn’t answered all of your questions, and you’re still browsing for further facts about Wealthsimple Dividends, check out the Wealthsimple site to find answers to every one of your questions.