What is Wealthsimple?
Wealthsimple is a simple to use Canadian web based investing, stocks and crypto trading app that distinguishes itself from the competition by charging no fees.
A Toronto, Ontario based online financial services business launched in the Autumn 2014 exclusively as a robo advisor algorithmic automated trading app called Wealthsimple Invest, it has improved 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 single stocks and ETFs without needing to pay any fees. The exception to this is when you’re trading securities which are denominated in USD. In this case, they charge a small currency conversion fee both when buying and selling. However, behind us are the times of having to pay Upwards of $7 per trade with discount brokerages as was normal a few years ago.
How Much in Funds Will I Need to Have in Order to Start on Wealthsimple Trade?
Wealthsimple is awesome such that they allow Canadians to make a minimum deposit of only $1. Most traditional banks and discount brokerages have quite large min deposit amounts of 1K-5K. This makes it impossible for the every day investor to start. With Wealthsimple Trade, one doesn’t have to be wealthy to start trading stocks and ETFs.
So Does Wealthsimple Trade Offer TFSA Accounts?
Of course. Wealthsimple Trade offers CRA registered and non-CRA-registered accounts. You can select between both RRSP and TFSA account types in the setup phase.
Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade has a convenient mobile app that is offered on IOS and also Google Play. The app makes the enrollment steps and trading of stocks and ETFs very easy.
Is Wealthsimple Trade Safe?
Yes. Wealthsimple Trade is secure. Wealthsimple has over 15 billion CAD in Assets Under Management . They have been expanding for more than 7 years and right now employs about 600 Canadians. The majority shareholder is the admired public Canadian entity Power Corp of Canada. Weapthsimple Trade is the first no-fee online brokerage operating in Canada.
So How Can I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it straight forward to add money to your account. Simply connect the app to a chequing or savings account to your Trade account, and then add money to your account in just a few steps. Deposits from banks to Wealthsimple normally take only a few days. Funds can just as easily be withdrawn your chequing or savings account through the same method.
Which Additional Benefits and Products Are Available?
Wealthsimple Cash – This is alternative to Interac e-Transfers that allows you to quickly and efficiently transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to prepare for tax year and file your taxes online free. It’s described as easy, accurate and always free income tax filing.
Wealthsimple Spend – A hybrid pre paid debit card and savings product that lets you to recieve 1% cashback on your everyday purchases, and also earn a very competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance platform that offers a ton of courses on different topics such as saving, investments, crypto, mortgages and much more.
All of the mentioned products, including Wealthsimple Trade can be accessed within the app or at the site with one login.
So How Should I Get Started Using Wealthsimple Trade?
Click here to create your Wealthsimple Trade account. As a special signup bonus offer for our readers you’ll receive the equivalent cash value of a Canadian stock worth $25 up to $4,500 Canadian as soon as you deposit to your account.
So What if I Still Have Questions Related to Wealthsimple Halal Etf?
If this review still hasn’t given you the answers to all of your questions, and you’re searching for additional answers about Wealthsimple Halal Etf, check out the Wealthsimple website to get answers to all your questions.