What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian online investing, stocks plus crypto trading web app that sets itself apart from its competitors by charging absolutely no fees.
A Toronto, Ontario based online financial services business launched in the Autumn of 2014 originally as a robo advisor algorithmic automated trading platform called Wealthsimple Invest, it has improved considerably over the previous 8 years to also include Wealthsimple Trade, a no fees discount brokerage platform.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade lets consumers trade both individual stocks and also ETFs without paying any commissions. The exception to this is when you’re trading ETFs and stocks which are displayed in US Dollars. In which case, they will charge a small currency conversion fee when buying and selling. But, past us are the times of paying $7-12 for each trade with online discount brokerages as was the norm just a couple years past.
Exactly How Much Cash Will I Need in Order to Get Started With Wealthsimple Trade?
Wealthsimple is special such that they allow Canadian investors to make a minimum deposit of just $1. Most traditional banks and discount brokerages have quite large initial deposit amounts of $1,000-$5,000. This makes it hard for the typical investor to get started. With Wealthsimple Trade, you won’t need to be wealthy to start trading stocks and ETFs.
Does Wealthsimple Trade Offer TFSA Accounts?
Yes. Wealthsimple Trade has CRA registered and non-CRA-registered accounts. You may select between both RRSP and TFSA account types during the setup phase.
Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade has a well designed mobile app that is available on both iOS and Android. The mobile app makes the registration phase and also the trading of stocks and ETFs truly a breeze.
Is Wealthsimple Trade Safe?
For sure. Wealthsimple Trade is safe. Wealthsimple reports in excess of 15 billion CAD in Assets Under Management . They have been expanding for more than 7 years and also right now employs roughly 600 folks. The primary owner is the public Canadian corporation Power Corp of Canada. Weapthsimple Trade was the first no-fees digital brokerage operating in Canada.
How Do I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it incredibly easy to deposit to a new account. Just connect the app to a chequing or savings account with your Trade account, and then fund your account in just a couple of steps. Deposits from financial institutions to Wealthsimple usually take a couple of days. Funds can the same way can be moved to a chequing or savings account by using the exact same method.
Which Additional Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is alternative to Interac e-Transfers which allow anyone to quickly and efficiently send cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for tax season and submit your taxes online free. It’s advertised as simple, accurate and always free tax filing.
Wealthsimple Spend – A combination pre paid visa and savings product which lets one to earn 1% cashback on all your purchases, and also get a very competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform which includes a bunch of courses on topics like saving, investments, crypto, real estate and much more.
All of the listed features, along with Wealthsimple Trade may be accessed within the mobile app and from their site with a single login.
But How Should I Get Started Using Wealthsimple Trade?
Click here to register for your Wealthsimple Trade account. For an exclusive registration bonus offer to our readers you’ll get the equivalent cash value of a stock valued at up to $4,500 Canadian as soon as you add funds to your account.
But What if I Still Have Additional Questions Concerning Wealthsimple Management Fee?
If this article hasn’t answered all of your questions, and you’re looking for further information about Wealthsimple Management Fee, visit the Wealthsimple site to get answers to each your questions.