What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian web based Financial, securities and crypto trading web app that sets itself apart from the competition by charging absolutely no fees.
A online financial services company launched in Fall of 2014 exclusively as a robo-advisor algorithmic trading app called Wealthsimple Invest, it has grown significantly over the past 8 years to also include Wealthsimple Trade, a no fees discount brokerage service.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade lets Canadian investors to trade both stand alone stocks and ETFs without needing to pay commissions. The exception is when trading securities which are displayed in USD. In that case, they will charge a nominal currency conversion fee both when buying and selling. But, gone are the times of having to pay more than $7 for each trade with online discount brokerages as was expected just a few years past.
Exactly How Much Cash Will I Need in Order to Get Started With Wealthsimple Trade?
Wealthsimple is special in that they allow Canadian investors to make a minimum deposit of only $1. Many alternative banks and brokerages have quite large initial deposit amounts of $1,000-$5000. This makes it hard for the normal new investor to start. With Wealthsimple Trade, you don’t have to be wealthy to start trading stocks and ETFs.
But Does Wealthsimple Trade Offer Registered Accounts?
Of course. Wealthsimple Trade has available registered and non-CRA-registered accounts. You may select between both RRSP and TFSA accounts during the setup phase.
So Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade offers a easy to use mobile app that is available to download on Apple and also Google Play. The app makes the signup process and also trading of stocks and ETFs easy.
But Is Wealthsimple Trade Trustworthy?
Most definitely. Wealthsimple Trade is secure. Wealthsimple has over 15 billion Canadian of Assets Under Management . These folks have been operating for more than 7 years and also employs more than 600 people. The controlling owner is the large publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the first no-fee online discount brokerage operating in Canada.
So How Does One Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it very easy to deposit to your new account. Simply connect to a chequing or savings account with your Trade account, and fund your account in just a few steps. Deposits from financial institutions to Wealthsimple normally take just a few days. Funds can also be withdrawn your chequing or savings accounts by the exact same process.
Which Additional Features and Products Are Available?
Wealthsimple Cash – An equivalent to Interac E-transfers which allows one to quickly and efficiently transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to get ready for tax year and submit your taxes online for free. It’s described to be simple, accurate and always free income tax filing.
Wealthsimple Spend – A hybrid prepaid visa and savings account which lets one to get 1% cashback on all your everyday spending, as well as get a competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform that includes a bunch of courses on different topics such as saving, investing, crypto, home buying and much more.
All of the above products, along with Wealthsimple Trade may be accessed inside the mobile app and from their website with your Wealthsimple login.
But How Should I Start With Wealthsimple Trade?
Click here to signup for your Wealthsimple Trade account. As an exclusive registration bonus for our readers you will get the equivalent cash value of a random share worth $25 up to $4,500 Canadian as soon as you make an initial deposit to your account.
What if I Still Have Questions Concerning Wealthsimple News?
If this review didn’t given you the answers to each of your questions, and you’re browsing for further information about Wealthsimple News, go to the Wealthsimple website to get answers to each your questions.