What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian online investing, stock and crypto trading web app that distinguishes itself from its competitors by charging absolutely no fees.
A online financial services business launched in Autumn of 2014 originally as a robo advisor trading app named Wealthsimple Invest, it has changed significantly over the previous eight years to feature Wealthsimple Trade, a no fees discount brokerage platform.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade allows Canadian consumers trade both individual stocks and ETFs without paying any fees. The exception is when trading stocks which are displayed in US Dollars. In this case, they do charge a small currency conversion fee when buying and selling. But, behind us are the times of paying Upwards of $7 for each trade with digital discount brokerages as was expected only a couple years ago.
Exactly How Much in Funds Will I Need to Have in Order to Get Started on Wealthsimple Trade?
Wealthsimple is awesome such that they will allow Canadians to make a minimum deposit of just $1. The majority of alternative banks and brokerages have sizeable initial deposit amounts of $1000-5k. This makes it tough for the normal new investor to start. With Wealthsimple Trade, you don’t have to be wealthy to begin trading stocks and ETFs.
So Does Wealthsimple Trade Have Registered Accounts?
It does. Wealthsimple Trade has available both registered and non-CRA-registered account types. You may choose both RRSP and TFSA accounts in the setup wizard.
Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade has a easy to use mobile app that is available to download on both Apple and Google Play. The mobile app makes the enrollment phase and also the trading of stocks and ETFs truly painless.
But Is Wealthsimple Trade Legit?
Most definitely. Wealthsimple Trade is safe. Wealthsimple reports more than 15 billion Canadian of Assets Under Management . These folks have been expanding for more than 7 years and also currently employs more than 600 Canadians. The controlling shareholder is the large public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the first no-fee digital brokerage operating in Canada.
So How Does One Fund a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it quite straight forward to add money to a new account. Simply connect a chequing or savings account with your Trade account, then add funds to your account in just a couple of steps. Deposits from financial institutions to Wealthsimple usually take a few days. Funds can the same way can be withdrawn a chequing or savings accounts using the exact same steps.
Which Other Benefits and Products Are Available?
Wealthsimple Cash – This is equivalent to E-transfers which allow you to quickly and efficiently send money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to get ready for this tax season and file your tax return online free. It’s described to be simple, accurate and always totally free tax filing.
Wealthsimple Spend – A combination prepaid visa and savings account which allows you to earn 1% cashback on all your spending, and also get a competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform which offers a variety of online courses on topics like saving, investing, crypto, real estate and much more.
Every one of the listed features, including Wealthsimple Trade may be found in the mobile app or on the website with a single login.
So How Can I Start With Wealthsimple Trade?
Click here to signup for a Wealthsimple Trade account. As a special registration bonus offer to our audience you’ll receive the cash value of a random Canadian stock worth $25 up to $4,500 CAD when you make an initial deposit to your account.
But What if I Still Have Questions About Wealthsimple Joint Cash Account?
If this article didn’t given you the answers to all of your questions, and you’re still looking for additional specific facts about Wealthsimple Joint Cash Account, go to the Wealthsimple site to get answers to each your questions.