What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian digital Financial, stock and crypto trading platform that distinguishes itself from its competitors by charging absolutely no fees.
A leading Canadian fintech business founded in the Autumn of twenty fourteen originally as a robo advisor algorithmic trading app named Wealthsimple Invest, it has changed considerably over the previous eight years to also include Wealthsimple Trade, a zero fees discount brokerage app.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade lets investors trade stand alone stocks and also ETFs without needing to pay any fees. The exception is when you’re trading ETFs and stocks which are listed in USD. In that case, they do charge a currency conversion fee both when buying and selling. But, gone are the days of paying more than $7 per each trade with online discount brokerages as was common only a few years past.
Exactly How Much Money Will I Need to Have in Order to Begin Investing on Wealthsimple Trade?
Wealthsimple is cool such that they will allow Canadian investors to make a minimum deposit of just $1. Many alternative banks and discount brokerages have quite large minimum deposit amounts of 1K-5k. This makes it difficult for the every day new investor to start. With Wealthsimple Trade, you won’t need to already be wealthy to begin trading stocks and ETFs.
So Does Wealthsimple Trade Have TFSA Accounts?
Yes. Wealthsimple Trade has available CRA registered and non-registered account types. One are able to choose between both RRSP and TFSA accounts in the setup process.
So Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade offers a easy to use mobile app offered on both iOS and Android. The smartphone app makes the signup process and also the trading of stocks and ETFs incredibly easy.
But Is Wealthsimple Trade Secure?
Most definitely. Wealthsimple Trade is safe. Wealthsimple has over 15 billion Canadian of Assets Under Management (AUM). they’ve been doing business for more than 7 years and also now employs over 600 Canadians. The main shareholder is the publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade is the first no-fees online discount brokerage operating in Canada.
But How Does One Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it very simple to add funds to a new account. Just connect a chequing or savings account with your Trade account, then add funds to your account in simply a few clicks. Deposits from financial institutions to Wealthsimple usually take a couple of days. Funds can also be moved back to a chequing or savings account through the same process.
What Additional Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – An equivalent to E-Transfers that allow one to quickly and simply transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for tax year and file your taxes online for free. It’s described to be easy, accurate and always free tax filing.
Wealthsimple Spend – A combination pre paid debit card and savings account that lets one to get 1% cashback on all your purchases, as well as get a competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform which includes a variety of different online courses on different topics such as saving, investing, crypto, mortgages and more.
All of the above products, including Wealthsimple Trade may be found on the mobile app or at the website with your Wealthsimple login.
So How Can I Get Started With Wealthsimple Trade?
Click here to setup a new Wealthsimple Trade account. For an exclusive registration bonus for our audience you’ll get the equivalent cash value of a stock valued at $25 up to $4,500 CAD once you make an initial deposit to your account.
So What if I Still Have Additional Questions Related to Wealthsimple Gift Card?
If this article still hasn’t given you the answers to each of your questions, and you’re still searching for more specific information relating to Wealthsimple Gift Card, check out the Wealthsimple site to find answers to each your questions.