What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian web based Financial, stocks and crypto trading web app that differentiates itself from the competition by charging no fees.
A leading Canadian online financial services company launched in the Autumn twenty fourteen exclusively as a robo-advisor algorithmic trading platform named Wealthsimple Invest, it has changed significantly over the previous 8 years to feature Wealthsimple Trade, a no fees discount brokerage service.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade allows investors to trade stand alone stocks and ETFs without paying any fees. The exception to this is when trading stocks that are displayed in USD. In which case, they will charge a nominal currency conversion fee when buying and selling. However, gone are the days of having to pay $7-12 per trade with discount brokerages as was common only a couple years ago.
Exactly How Much Money Will I Need to Begin Investing on Wealthsimple Trade?
Wealthsimple is cool in that they will allow Canadians to make a minimum deposit of only $1. The majority of alternative banks and discount brokerages have sizeable minimum deposit amounts of 1k-5K. This makes it tough for the common new investor to start investing. With Wealthsimple Trade, you won’t have to be wealthy to begin trading stocks and ETFs.
Does Wealthsimple Trade Have Registered Accounts?
Yes. Wealthsimple Trade offers both registered and non-registered account types. You are able to select both RRSP and TFSA accounts in the setup phase.
But Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade offers a well designed mobile app that is available on iOS and also Android. The smartphone app makes the registration phase and also trading of stocks and ETFs incredibly a breeze.
But Is Wealthsimple Trade Trustworthy?
Yes. Wealthsimple Trade is safe. Wealthsimple has over 15 billion CAD of Assets Under Management . These folks have been doing business for more than 7 years and also now employs over 600 folks. The main owner is the large publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the very first no-fees digital discount brokerage operating in Canada.
So How Does One Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it incredibly easy to add money to an account. Simply connect the app to a chequing or savings account to your Trade account, then add funds to your account in only a few steps. Deposits from banks to Wealthsimple normally take a few days. Funds can just as easily be moved back to a chequing or savings accounts through the exact same process.
Which Additional Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – An alternative to e-Transfers which allows anyone to quickly and efficiently send money to friends and family in Canada.
Wealthsimple Tax – Everything you need to prepare for this tax season and submit your taxes online free. It’s pitched to be easy, accurate and always free income tax filing.
Wealthsimple Spend – A combination pre paid debit card and savings account that lets one to recieve 1% cashback on all your everyday purchases, and also get a very competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform that offers a bunch of different online courses on topics like saving, investing, crypto, mortgages and more.
All of the mentioned products, including Wealthsimple Trade may be found within the mobile app or at the website with one login.
But How Can I Begin With Wealthsimple Trade?
Click here to register for a Wealthsimple Trade account. For a special registration bonus offer for our readers you will receive the equivalent cash value of a stock valued at up to $4,500 Canadian when you fund your account.
What if I Still Have Questions Related to Wealthsimple Fees?
If this review still hasn’t given you the answers to all of your questions, and you’re searching for more facts relating to Wealthsimple Fees, check out the Wealthsimple site to get answers to each your questions.