What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian online investing, stocks and crypto trading web app that differentiates itself from other apps by charging absolutely no fees.
A leading Canadian fintech company founded in the Autumn of twenty fourteen originally as a robo-advisor automated trading app named Wealthsimple Invest, it has evolved significantly over the last 8 years to feature Wealthsimple Trade, a no fee discount brokerage platform.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade lets consumers trade both stand alone stocks and ETFs without paying commissions. The exception is when trading securities which are displayed in USD currency. In this case, they do charge a nominal currency conversion fee when buying and selling. However, gone are the times of paying more than $7 for each trade with discount brokerages as was common only a few years past.
Exactly How Much Cash Will I Need to Have to Start With Wealthsimple Trade?
Wealthsimple is awesome in that they will allow Canadian investors to make a minimum deposit of just $1. Most alternative banks and brokerages have quite large minimum deposit amounts of $1,000-$5000. This makes it hard for the everyday investor to start investing. With Wealthsimple Trade, you won’t have to be wealthy to start trading stocks and ETFs.
So Does Wealthsimple Trade Offer TFSA Accounts?
It does. Wealthsimple Trade offers both registered and non-CRA-registered account types. One can choose both RRSP and TFSA account types during the setup wizard.
Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade has a convenient mobile app that is available to download on both IOS and Android. The mobile app makes the registration process and trading of stocks and ETFs super painless.
So Is Wealthsimple Trade Secure?
Of course. Wealthsimple Trade is trustworthy. Wealthsimple has more than 15 billion Canadian of Assets Under Management (AUM). They have been expanding for more than 7 years and also employs about 600 Canadians. The majority shareholder is the large publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade is the first no-fee online brokerage operating in Canada.
How Does One Fund a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it straight forward to fund your account. Simply connect a chequing or savings account to your Trade account, and then fund your account in simply a couple of clicks. Deposits from financial institutions to Wealthsimple typically take a few days. Funds can the same way can be withdrawn a chequing or savings accounts by using the same method.
Which Additional Features and Products Are Available?
Wealthsimple Cash – An equivalent to E-transfers which allow you to quickly and easily transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to get ready for this tax season and file your taxes online free. It’s advertised as simple, accurate and always totally free tax return filing.
Wealthsimple Spend – A hybrid pre paid visa and savings product that allows one to recieve 1% cashback on your everyday purchases, and also get a competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform that offers a bunch of different courses on different topics such as saving, investments, crypto, mortgages and more.
Each of the listed features, including Wealthsimple Trade can be accessed on the mobile app and on their site with your Wealthsimple login.
But How Can I Begin Using Wealthsimple Trade?
Click here to signup for a new Wealthsimple Trade account. As an exclusive registration bonus offer to our readers you will receive the cash value of a Canadian stock valued at $25 up to $4,500 Canadian when you add funds to your account.
So What if I Still Have Additional Questions About Wealthsimple Kyc?
If this blog post didn’t given you the answers to all of your questions, and you’re looking for more info about Wealthsimple Kyc, go to the Wealthsimple site to find answers to each your questions.