What is Wealthsimple?
Wealthsimple is a simple to use Canadian web based Financial, stocks plus crypto trading app that differentiates itself from other apps by charging no fees.
A Toronto, Ontario based fintech company launched in the Autumn of twenty fourteen exclusively as a robo advisor automated trading app called Wealthsimple Invest, it has grown considerably over the past 8 years to feature Wealthsimple Trade, a zero fees discount brokerage app.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade lets Canadian investors trade both single stocks and also ETFs without needing to pay any commissions. The exception to this is when you’re trading stocks and ETFs that are listed in USD currency. In this case, they do charge a small currency conversion fee when buying and selling. However, past us are the times of having to pay more than $7 per each trade with online discount brokerages as was common only a few years past.
Exactly How Much Cash do I Need to Have to Start on Wealthsimple Trade?
Wealthsimple is awesome in that they allow Canadian investors to make a minimum deposit of only $1. Most traditional banks and brokerages have sizeable initial deposit amounts of $1000-5k. This makes it impossible for the everyday new investor to start. With Wealthsimple Trade, one doesn’t have to already be wealthy to begin trading stocks and ETFs.
But Does Wealthsimple Trade Offer TFSA Accounts?
Yes. Wealthsimple Trade has available registered and non-CRA-registered account types. One are free to select both RRSP and TFSA account types in the setup process.
Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade offers a easy to use mobile app that is available on both Apple and also Android. The app makes the registration process and also the trading of stocks and ETFs super simple.
But Is Wealthsimple Trade Secure?
Of course. Wealthsimple Trade is legit. Wealthsimple boasts in excess of 15 billion CAD in Assets Under Management (AUM). they’ve been expanding for more than 7 years and also now employs over 600 folks. The controlling owner is the publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade was the very first no-fee online discount brokerage to operate in Canada.
So How Do I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it quite easy to add funds to your new account. Simply connect a chequing or savings account with your Trade account, and add money to your account in simply a couple of clicks. Deposits from financial institutions to Wealthsimple normally take just a few days. Funds can just as easily be withdrawn your chequing or savings account using the same method.
What Other Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is equivalent to Interac e-Transfers which allow you to quickly and simply send money to friends and family in Canada.
Wealthsimple Tax – Everything you need to get ready for tax year and file your tax return online for free. It’s pitched as easy, accurate and always totally free tax return filing.
Wealthsimple Spend – A combination pre paid debit card and savings product that lets you to recieve 1% cashback on your everyday purchases, and also get a competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance platform that offers a variety of different courses on different topics such as saving, investments, crypto, real estate and much more.
Every one of the above features, including Wealthsimple Trade can be found inside the mobile app or from the website with your Wealthsimple login.
How Should I Begin With Wealthsimple Trade?
Click here to create a new Wealthsimple Trade account. As an exclusive registration bonus for our audience you will get the equivalent cash value of a random Canadian stock valued at $25 up to $4,500 Canadian when you fund your account.
What if I Still Have Questions Concerning Wealthsimple Kw?
If this article hasn’t answered all of your questions, and you’re looking for further specific answers about Wealthsimple Kw, visit the Wealthsimple site for answers to all your questions.