What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian digital Financial, stock plus crypto trading platform that differentiates itself from the competition by charging no fees.
A Toronto, Ontario based fintech business launched in the Fall of twenty fourteen originally as a robo advisor automated trading app called Wealthsimple Invest, it has improved significantly over the past eight years to also feature Wealthsimple Trade, a no fees discount brokerage platform.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade lets consumers to trade single stocks and ETFs without needing to pay commissions. The exception to this is when you’re trading stocks which are denominated in US Dollars. In which case, they will charge a currency conversion fee when buying and selling. But, gone are the days of having to pay more than $7 per each trade with online discount brokerages as was the case just a few years ago.
How Much Cash do I Need in Order to Get Started on Wealthsimple Trade?
Wealthsimple is special in that they allow Canadians to make a minimum deposit of just $1. Many alternative banks and discount brokerages have quite large initial deposit amounts of $1000-5K. This makes it tough for the typical investor to start. With Wealthsimple Trade, one doesn’t have to be wealthy to start trading stocks and ETFs.
Does Wealthsimple Trade Have Registered Accounts?
They do. Wealthsimple Trade has both CRA registered and non-CRA-registered accounts. One may select both RRSP and TFSA accounts during the setup wizard.
But Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade offers a modern mobile app that is available on iOS and Google Play. The app makes the enrollment phase and also the trading of stocks and ETFs simple.
But Is Wealthsimple Trade Safe?
Most definitely. Wealthsimple Trade is legit. Wealthsimple boasts in excess of 15 billion Canadian in Assets Under Management (AUM). they’ve been operating for more than 7 years and also currently employs about 600 folks. The controlling owner is the public Canadian entity Power Corp of Canada. Weapthsimple Trade was the first no-fees digital brokerage to operate in Canada.
So How Do I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it easy to add funds to an account. Just connect to a chequing or savings account to your Trade account, then fund your account in simply a few clicks. Deposits from banks to Wealthsimple normally take only a few days. Funds can just as easily be moved back to a chequing or savings accounts by using the exact same process.
Which Other Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is alternative to Interac E-Transfers which allow one to quickly and easily send cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to get ready for this tax season and submit your taxes online for free. It’s pitched as simple, accurate and always free tax filing.
Wealthsimple Spend – A combination pre paid debit card and savings account which allows you to earn 1% cashback on your purchases, and also earn a competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform that includes a ton of online courses on topics like saving, investing, crypto, real estate and more.
Every one of the above features, including Wealthsimple Trade can be accessed in the mobile app or from their website with your Wealthsimple login.
But How Should I Start Using Wealthsimple Trade?
Click here to signup for a new Wealthsimple Trade account. As an exclusive registration bonus offer for our audience you’ll get the equivalent cash value of a random stock valued at up to $4,500 CAD once you deposit to your account.
What if I Still Have Questions Related to Wealthsimple Joint Investment Account?
If this review hasn’t given you the answers to each of your questions, and you’re browsing for further specific answers relating to Wealthsimple Joint Investment Account, visit the Wealthsimple website to get answers to each your questions.