What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian web based investing, securities plus crypto trading platform that sets itself apart from other apps by charging absolutely no fees.
A Toronto, Ontario based fintech business launched in Autumn twenty fourteen originally as a robo advisor trading platform named Wealthsimple Invest, it has changed substantially over the previous eight years to include Wealthsimple Trade, a zero fees discount brokerage platform.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade lets Canadian consumers trade individual stocks and also ETFs without paying fees. The exception to this is when you’re trading stocks and ETFs that are listed in USD currency. In which case, they do charge a nominal currency conversion fee both when buying and selling. But, behind us are the days of paying $7-12 per each trade with online discount brokerages as was the case a few years past.
Exactly How Much in Funds Will I Need to Have to Start With Wealthsimple Trade?
Wealthsimple is cool in that they allow investors to make a minimum deposit of only $1. Many alternative banks and discount brokerages have sizeable minimum deposit amounts of $1000-$5000. This makes it hard for the every day investor to start. With Wealthsimple Trade, you won’t have to be wealthy to get started with trading stocks and ETFs.
Does Wealthsimple Trade Offer TFSA Accounts?
It does. Wealthsimple Trade offers CRA registered and non-CRA-registered account types. You are able to select both RRSP and TFSA accounts during the setup phase.
Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade offers a well designed mobile app offered on both iOS and Android. The smartphone app makes the registration phase and the trading of stocks and ETFs a breeze.
But Is Wealthsimple Trade Legit?
Definitely. Wealthsimple Trade is secure. Wealthsimple boasts over 15 billion Canadian of Assets Under Management . These folks have been in business for more than 7 years and employs over 600 folks. The primary owner is the admired publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade is the very first no-fees digital brokerage operating in Canada.
So How Do I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it incredibly straight forward to fund an account. Just connect a chequing or savings account to your Trade account, and then add money to your account in simply a couple of clicks. Deposits from your bank to Wealthsimple usually take just a couple of days. Funds can just as easily be moved back to a chequing or savings accounts by the exact same steps.
What Additional Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is alternative to E-Transfers which allow one to quickly and efficiently send money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for this tax year and submit your tax return online for free. It’s advertised to be easy, accurate and always free tax filing.
Wealthsimple Spend – A combination pre paid debit card and savings product that allows one to recieve 1% cashback on your everyday purchases, and also earn a competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform which offers a variety of different online courses on saving, investments, crypto, real estate and much more.
Every one of the above features, along with Wealthsimple Trade can be found on the app or on their website with a single login.
But How Can I Start Using Wealthsimple Trade?
Click here to signup for a new Wealthsimple Trade account. As an exclusive registration bonus offer to our audience you will receive the cash value of a stock worth $25 up to $4,500 CAD when you add funds to your account.
What if I Still Have Questions Concerning Wealthsimple Quick Deposit?
If this blog post still hasn’t answered all of your questions, and you’re searching for further answers relating to Wealthsimple Quick Deposit, go to the Wealthsimple website to get answers to every one of your questions.