What is Wealthsimple?
Wealthsimple is an easy to use Canadian web based investing, stock plus crypto trading web app that differentiates itself from the competition by charging no fees.
A Toronto, Ontario based online financial services company launched in the Fall twenty fourteen originally as a robo-advisor automated trading platform named Wealthsimple Invest, it has evolved considerably over the last 8 years to include Wealthsimple Trade, a zero fee discount brokerage platform.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade lets consumers to trade single stocks and ETFs without paying commissions. The exception to this is when you’re trading securities which are listed in USD. In that case, they will charge a nominal currency conversion fee when buying and selling. But, past us are the days of paying $7-12 per each trade with discount brokerages as was expected a couple years ago.
How Much Cash Will I Need to Have to Begin Investing on Wealthsimple Trade?
Wealthsimple is awesome such that they allow investors to make a minimum deposit of only $1. Many alternative banks and discount brokerages have large minimum deposit amounts of $1000-$5000. This makes it tough for the typical new investor to get started. With Wealthsimple Trade, you won’t need to be wealthy to begin trading stocks and ETFs.
So Does Wealthsimple Trade Offer TFSA Accounts?
They do. Wealthsimple Trade has available registered and non-registered account types. One can select between both RRSP and TFSA account types in the setup phase.
So Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade has a modern mobile app available on IOS and Android. The mobile app makes the registration steps and also the trading of stocks and ETFs incredibly easy.
Is Wealthsimple Trade Secure?
Definitely. Wealthsimple Trade is secure. Wealthsimple has over 15 billion CAD of Assets Under Management (AUM). They have been operating for more than 7 years and also at this time employs more than 600 folks. The majority owner is the publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade was the first no-fees digital brokerage operating in Canada.
But How Do I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it quite straight forward to add money to an account. Simply connect a chequing or savings account with your Trade account, and fund your account in simply a few steps. Deposits from banks to Wealthsimple normally take just a couple of days. Funds can also be moved to your chequing or savings accounts using the same method.
Which Additional Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – An alternative to E-Transfers that allows one to quickly and easily send money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to get ready for this tax season and submit your tax return online for free. It’s pitched to be simple, accurate and always free income tax filing.
Wealthsimple Spend – A hybrid pre paid visa and savings product that allows you to get 1% cashback on your everyday spending, as well as get a very competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform which offers a ton of online courses on different topics such as saving, investing, crypto, real estate and much more.
All of the mentioned features, along with Wealthsimple Trade may be accessed within the mobile app and from the website with your Wealthsimple login.
So How do I Start With Wealthsimple Trade?
Click here to setup a new Wealthsimple Trade account. For a special signup bonus offer for our audience you will get the cash value of a share valued at up to $4,500 CAD as soon as you add funds to your account.
But What if I Still Have Questions About Wealthsimple Kingston?
If this article didn’t answered all of your questions, and you’re still looking for further specific information about Wealthsimple Kingston, check out the Wealthsimple site to get answers to each your questions.