What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian online Financial, stocks plus crypto trading platform that sets itself apart from its competitors by charging absolutely no fees.
A leading Canadian online financial services company founded in the Autumn of twenty fourteen originally as a robo-advisor algorithmic automated trading platform named Wealthsimple Invest, it has evolved significantly over the previous 8 years to also feature Wealthsimple Trade, a no fee discount brokerage service.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade allows Canadian consumers trade single stocks and also ETFs without having to pay any fees. The exception to this is when you’re trading stocks that are displayed in US Dollars. In which case, they will charge a currency conversion fee both when buying and selling. But, behind us are the times of paying more than $7 per trade with online discount brokerages as was the norm a few years past.
Exactly How Much Cash do I Need in Order to Start Investing With Wealthsimple Trade?
Wealthsimple is awesome such that they allow new customers to make a minimum deposit of only $1. Most traditional banks and brokerages have quite large minimum deposit amounts of $1000-5K. This makes it difficult for the normal new investor to start investing. With Wealthsimple Trade, you don’t have to already be wealthy to start trading stocks and ETFs.
Does Wealthsimple Trade Have Registered Accounts?
It does. Wealthsimple Trade has both registered and non-CRA-registered account types. One can choose between both RRSP and TFSA account types in the setup process.
So Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade has a modern mobile app available to download on Apple and Google Play. The app makes the signup phase and the trading of stocks and ETFs truly easy.
So Is Wealthsimple Trade Safe?
Of course. Wealthsimple Trade is secure. Wealthsimple boasts in excess of 15 billion Canadian of Assets Under Management . they’ve been expanding for more than 7 years and also at this time employs about 600 folks. The primary shareholder is the public Canadian corporation Power Corp of Canada. Weapthsimple Trade was the very first no-fee digital discount brokerage to operate in Canada.
So How Does One Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it so straight forward to add money to an account. Just connect a chequing or savings account with your Trade account, and then add money to your account in simply a few clicks. Deposits from banks to Wealthsimple typically take only a few days. Funds can the same way can be withdrawn a chequing or savings accounts by using the same steps.
Which Other Features and Products Are Available?
Wealthsimple Cash – An alternative to E-transfers which allow one to quickly and simply transfer 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 as easy, accurate and always totally free income tax filing.
Wealthsimple Spend – A hybrid prepaid debit card and savings product that allows one to get 1% cashback on your everyday purchases, and also get a very competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform which includes a variety of courses on different topics such as saving, investments, crypto, real estate and more.
All of the listed products, along with Wealthsimple Trade may be found inside the mobile app or on their site with one login.
How do I Begin With Wealthsimple Trade?
Click here to register for your Wealthsimple Trade account. As a special signup bonus for our readers you will get the equivalent cash value of a random Canadian stock valued at up to $4,500 Canadian as soon as you make an initial deposit to your account.
So What if I Still Have Questions Concerning Wealthsimple Globe And Mail?
If this blog post didn’t answered all of your questions, and you’re still looking for additional specific facts about Wealthsimple Globe And Mail, go to the Wealthsimple website to get answers to each your questions.