What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian web based investing, stock and crypto trading web app that sets itself apart from similar apps by charging absolutely no fees.
A leading Canadian fintech business launched in the Autumn 2014 originally as a robo-advisor automated trading app called Wealthsimple Invest, it has grown substantially over the past eight years to also feature Wealthsimple Trade, a zero fees discount brokerage platform.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade lets Canadian consumers to trade stand alone stocks and ETFs without having to pay any fees. The exception is when you’re trading securities that are denominated in USD. In this case, they do charge a currency conversion fee both when buying and selling. However, gone are the times of paying more than $7 per trade with online discount brokerages as was expected only a few years past.
Exactly How Much in Funds do I Need to Have to Start on Wealthsimple Trade?
Wealthsimple is cool such that they will allow Canadians to make a minimum deposit of only $1. The majority of traditional banks and brokerages have sizeable min deposit amounts of 1k-5K. This makes it hard for the normal investor to start. With Wealthsimple Trade, you don’t have to be wealthy to begin trading stocks and ETFs.
But Does Wealthsimple Trade Have Registered Accounts?
They do. Wealthsimple Trade has both registered and non-registered account types. You are free to select both RRSP and TFSA accounts during the setup phase.
Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade offers a modern mobile app that is available on both Apple and also Android. The mobile app makes the enrollment process and the trading of stocks and ETFs very simple.
But Is Wealthsimple Trade Safe?
For sure. Wealthsimple Trade is secure. Wealthsimple boasts more than 15 billion Canadian in Assets Under Management . They have been operating for more than 7 years and also employs more than 600 Canadians. The primary owner is the admired public Canadian corporation Power Corp of Canada. Weapthsimple Trade was the first no-fees digital discount brokerage to operate in Canada.
How Does One Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it quite easy to add funds to your new account. Just connect to a chequing or savings account to your Trade account, then add money to your account in simply a few steps. Deposits from financial institutions to Wealthsimple typically take just a couple of days. Funds can just as easily be moved back to your chequing or savings accounts through the same method.
What Other Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An equivalent to E-transfers which allow anyone to quickly and easily send money to friends and family in Canada.
Wealthsimple Tax – Everything you require to prepare for this tax year and file your taxes online for free. It’s advertised as simple, accurate and always totally free tax return filing.
Wealthsimple Spend – A hybrid pre paid debit card and savings product which lets one to get 1% cashback on all your everyday purchases, as well as get a competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance platform that includes a bunch of different online courses on different topics such as saving, investments, crypto, mortgages and much more.
Every one of the listed features, along with Wealthsimple Trade can be accessed on the mobile app or from the website with your Wealthsimple login.
So How Should I Begin Using Wealthsimple Trade?
Click here to signup for a Wealthsimple Trade account. As an exclusive registration bonus offer for our audience you’ll receive the cash value of a Canadian stock worth $25 up to $4,500 Canadian once you deposit to your account.
But What if I Still Have Questions Concerning Wealthsimple Joint Savings Account?
If this review hasn’t answered each of your questions, and you’re looking for additional facts relating to Wealthsimple Joint Savings Account, go to the Wealthsimple site to find answers to each your questions.