What is Wealthsimple?
Wealthsimple is an easy to use Canadian digital Financial, stocks and crypto trading platform that differentiates itself from the competition by charging no fees.
A leading Canadian online financial services company founded in the Autumn of twenty fourteen originally as a robo-advisor algorithmic automated trading app named Wealthsimple Invest, it has changed substantially over the previous 8 years to also include Wealthsimple Trade, a no fee discount brokerage platform.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade lets Canadian consumers trade single stocks and ETFs without paying any fees. The exception to this is when you’re trading stocks and ETFs that are listed in US Dollars. In which case, they will charge a nominal currency conversion fee when buying and selling. However, behind us are the times of paying more than $7 per trade with online discount brokerages as was common just a couple years ago.
Exactly How Much Cash do I Need to Have to Start Investing on Wealthsimple Trade?
Wealthsimple is special in that they allow new customers to make a minimum deposit of just $1. The majority of alternative banks and brokerages have quite large minimum deposit amounts of $1000-5k. This makes it impossible for the typical new investor to get started. With Wealthsimple Trade, you won’t have to be wealthy to begin trading stocks and ETFs.
But Does Wealthsimple Trade Have Registered Accounts?
Yes. Wealthsimple Trade has available registered and non-CRA-registered accounts. You may select both RRSP and TFSA account types during the setup phase.
So Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade offers a convenient mobile app offered to download on iOS and Android. The app makes the signup phase and the trading of stocks and ETFs super easy.
Is Wealthsimple Trade Trustworthy?
Definitely. Wealthsimple Trade is trustworthy. Wealthsimple reports in excess of 15 billion Canadian of Assets Under Management . These folks have been doing business for more than 7 years and also now employs roughly 600 people. The main shareholder is the public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the very first no-fees online brokerage to operate in Canada.
But How Does One Fund a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it simple to deposit to your new account. Simply connect a chequing or savings account to your Trade account, then fund your account in simply a couple of steps. Deposits from banks to Wealthsimple usually take a few days. Funds can also be moved to a chequing or savings accounts using the same method.
What Other Benefits and Products Are Available?
Wealthsimple Cash – This is alternative to E-transfers that allows one to quickly and efficiently send cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for tax year and submit your taxes online for free. It’s advertised to be simple, accurate and always free income tax filing.
Wealthsimple Spend – A combination pre paid visa and savings account which lets one to recieve 1% cashback on your everyday spending, and also get a competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform that includes a ton of different courses on topics like saving, investing, crypto, home buying and much more.
Each of the mentioned features, along with Wealthsimple Trade can be accessed on the app and on their site with a single login.
But How Should I Begin Using Wealthsimple Trade?
Click here to signup for a Wealthsimple Trade account. As a special signup bonus offer for our readers you’ll get the equivalent cash value of a stock worth up to $4,500 Canadian as soon as you deposit to your account.
What if I Still Have Additional Questions Concerning Wealthsimple Halal?
If this review didn’t given you the answers to all of your questions, and you’re still searching for additional answers about Wealthsimple Halal, check out the Wealthsimple site to get answers to each your questions.