What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian online Financial, stock and crypto trading platform that sets itself apart from its competitors by charging no fees.
A Toronto, Ontario based fintech business founded in Autumn twenty fourteen originally as a robo-advisor algorithmic automated trading platform called Wealthsimple Invest, it has grown considerably over the last 8 years to also feature Wealthsimple Trade, a zero fee discount brokerage platform.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade allows investors trade single stocks and also ETFs without needing to pay commissions. The exception to this is when trading stocks which are displayed in USD currency. In this case, they do charge a small currency conversion fee when buying and selling. But, past us are the days of paying $7-12 per trade with digital discount brokerages as was normal only a few years past.
Exactly How Much Money do I Need in Order to Begin Investing With Wealthsimple Trade?
Wealthsimple is awesome in that they will allow new customers to make a minimum deposit of just $1. The majority of traditional banks and discount brokerages have large minimum deposit amounts of 1K-5K. This makes it impossible for the every day investor to start. With Wealthsimple Trade, one doesn’t have to be wealthy to begin trading stocks and ETFs.
Does Wealthsimple Trade Have Registered Accounts?
They do. Wealthsimple Trade offers CRA registered and non-registered account types. One can select both RRSP and TFSA account types during the setup wizard.
So Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade offers a modern mobile app available on both iOS and Google Play. The smartphone app makes the registration phase and trading of stocks and ETFs very painless.
Is Wealthsimple Trade Secure?
Of course. Wealthsimple Trade is trustworthy. Wealthsimple has in excess of 15 billion CAD in Assets Under Management . These folks have been operating for more than 7 years and right now employs more than 600 Canadians. The main owner is the respected publicly traded Canadian entity Power Corp of Canada. Weapthsimple Trade is the first no-fee digital brokerage to operate in Canada.
But How Can I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it quite easy to fund your new account. Just connect to a chequing or savings account with your Trade account, then fund your account in only a couple of clicks. Deposits from your bank to Wealthsimple typically take a couple of days. Funds can just as easily be withdrawn your chequing or savings account with the same process.
What Other Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is alternative to E-transfers which allows you to quickly and simply send cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to prepare for this tax season and file your taxes online free. It’s described to be easy, accurate and always free tax filing.
Wealthsimple Spend – A combination prepaid debit card and savings account which lets one to earn 1% cashback on all your everyday purchases, and also get a competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance platform which offers a ton of different courses on different topics such as saving, investing, crypto, home buying and much more.
Every one of the mentioned features, along with Wealthsimple Trade may be accessed inside the mobile app and from their website with a single login.
So How Should I Get Started Using Wealthsimple Trade?
Click here to create your Wealthsimple Trade account. As a special signup bonus to our audience you will receive the equivalent cash value of a share worth up to $4,500 Canadian once you add funds to your account.
But What if I Still Have Additional Questions Concerning Wealthsimple Or Questrade?
If this blog post hasn’t answered all of your questions, and you’re searching for more information relating to Wealthsimple Or Questrade, go to the Wealthsimple website to find answers to each your questions.