What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian digital investing, stock and crypto trading platform that sets itself apart from similar apps by charging no fees.
A online financial services business launched in Autumn of twenty fourteen originally as a robo advisor automated trading app named Wealthsimple Invest, it has grown substantially over the previous eight years to also feature Wealthsimple Trade, a no fee discount brokerage platform.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade allows investors to trade both single stocks and ETFs without having to pay commissions. The exception to this is when trading stocks which are denominated in US Dollars. In that case, they do charge a nominal currency conversion fee when buying and selling. However, gone are the times of paying $7-12 per trade with discount brokerages as was normal a couple years ago.
How Much Cash do I Need to Get Started on Wealthsimple Trade?
Wealthsimple is unique such that they will allow new customers to make a minimum deposit of only $1. The majority of traditional banks and discount brokerages have large minimum deposit amounts of 1k-$5,000. This makes it tough for the normal new investor to start investing. With Wealthsimple Trade, you won’t need to already be wealthy to get started with trading stocks and ETFs.
But Does Wealthsimple Trade Offer TFSA Accounts?
Of course. Wealthsimple Trade offers both registered and non-CRA-registered account types. One may select between both RRSP and TFSA accounts during the setup wizard.
So Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade has a modern mobile app offered to download on IOS and also Google Play. The mobile app makes the enrollment steps and also the trading of stocks and ETFs incredibly painless.
Is Wealthsimple Trade Legit?
For sure. Wealthsimple Trade is secure. Wealthsimple has more than 15 billion CAD in Assets Under Management . These folks have been expanding for more than 7 years and employs more than 600 people. The majority owner is the respected public Canadian entity Power Corp of Canada. Weapthsimple Trade is the very first no-fees digital discount brokerage to operate in Canada.
But How Does One Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it very easy to add money to your new account. Simply connect to a chequing or savings account to your Trade account, and then add money to your account in simply a few clicks. Deposits from financial institutions to Wealthsimple normally take just a few days. Funds can the same way can be withdrawn a chequing or savings account through the exact same process.
What Additional Benefits and Products Are Available?
Wealthsimple Cash – An alternative to Interac E-transfers that allow you to quickly and easily send money to friends and family in Canada.
Wealthsimple Tax – Everything you need to prepare for tax year and file your taxes online for free. It’s advertised to be simple, accurate and always free tax return filing.
Wealthsimple Spend – A combination pre paid visa and savings product which allows you to earn 1% cashback on all your spending, as well as earn a competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance platform which offers a bunch of different online courses on different topics such as saving, investing, crypto, home buying and much more.
All of the above features, including Wealthsimple Trade may be found on the mobile app or from their website with your Wealthsimple login.
But How Should I Get Started Using Wealthsimple Trade?
Click here to signup for a Wealthsimple Trade account. As an exclusive signup bonus to our audience you’ll get the cash value of a random share valued at $25 up to $4,500 Canadian once you make an initial deposit to your account.
So What if I Still Have Additional Questions Related to Wealthsimple Internship?
If this review still hasn’t answered all of your questions, and you’re still searching for additional specific answers about Wealthsimple Internship, visit the Wealthsimple website to find answers to every one of your questions.