What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian web based Financial, securities plus crypto trading platform that sets itself apart from similar apps by charging absolutely no fees.
A leading Canadian fintech business launched in Fall of twenty fourteen exclusively as a robo-advisor algorithmic automated trading app named Wealthsimple Invest, it has changed significantly over the past 8 years to also feature Wealthsimple Trade, a zero fees discount brokerage service.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade lets Canadian investors to trade stand alone stocks and also ETFs without having to pay commissions. The exception to this is when you’re trading stocks and ETFs which are denominated in USD. In this case, they will charge a small currency conversion fee when buying and selling. However, behind us are the times of paying Upwards of $7 for each trade with discount brokerages as was the case only a few years past.
How Much Cash Will I Need to Have to Start on Wealthsimple Trade?
Wealthsimple is cool in that they allow Canadian investors to make a minimum deposit of just $1. The majority of alternative banks and brokerages have sizeable min deposit amounts of $1,000-$5000. This makes it hard for the everyday new investor to start. With Wealthsimple Trade, you won’t have to already be wealthy to start trading stocks and ETFs.
But Does Wealthsimple Trade Have Registered Accounts?
They do. Wealthsimple Trade has CRA registered and non-CRA-registered account types. You are free to select both RRSP and TFSA accounts in the setup process.
Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade offers a easy to use mobile app that is offered to download on iOS and Android. The mobile app makes the enrollment phase and the trading of stocks and ETFs super a breeze.
But Is Wealthsimple Trade Secure?
Most definitely. Wealthsimple Trade is secure. Wealthsimple boasts more than 15 billion CAD in Assets Under Management (AUM). These folks have been doing business for more than 7 years and also now employs over 600 Canadians. The main shareholder is the admired publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade was the first no-fee digital brokerage to operate in Canada.
But How Do I Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it very straight forward to add funds to a new account. Simply connect the app to a chequing or savings account with your Trade account, then fund your account in just a few clicks. Deposits from your bank to Wealthsimple normally take a couple of days. Funds can the same way can be moved back to a chequing or savings accounts through the same steps.
What Other Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is equivalent to e-transfers which allow 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 file your taxes online free. It’s advertised as easy, accurate and always free tax filing.
Wealthsimple Spend – A combination pre paid visa and savings account that lets one to recieve 1% cashback on all your everyday purchases, as well as earn a very competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform which offers a ton of different courses on saving, investments, crypto, real estate and more.
Each of the above products, including Wealthsimple Trade may be accessed inside the mobile app or at the website with your Wealthsimple login.
How Can I Begin Using Wealthsimple Trade?
Click here to setup a Wealthsimple Trade account. As a special registration bonus offer for our readers you’ll get the cash value of a share worth $25 up to $4,500 CAD as soon as you deposit to your account.
What if I Still Have Additional Questions Related to Wealthsimple Instant Deposit $1 000?
If this article still hasn’t answered each of your questions, and you’re browsing for more facts about Wealthsimple Instant Deposit $1 000, check out the Wealthsimple site to get answers to each your questions.