What is Wealthsimple?
Wealthsimple is an easy to use Canadian online Financial, stock and crypto trading platform that differentiates itself from the competition by charging absolutely no fees.
A Toronto, Ontario based fintech company launched in Fall twenty fourteen exclusively as a robo-advisor trading app named Wealthsimple Invest, it has improved significantly over the last 8 years to feature Wealthsimple Trade, a zero fees discount brokerage app.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade lets Canadian investors trade both individual stocks and ETFs without needing to pay fees. The exception is when you’re trading stocks and ETFs which are displayed in US Dollars. In that case, they do charge a nominal currency conversion fee when buying and selling. However, gone are the times of paying $7-12 for each trade with digital discount brokerages as was normal just a few years ago.
How Much Money Will I Need to Get Started on Wealthsimple Trade?
Wealthsimple is awesome such that they will allow Canadian investors to make a minimum deposit of only $1. Most traditional banks and discount brokerages have quite large min deposit amounts of 1K-$5000. 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 TFSA Accounts?
Yes. Wealthsimple Trade has available registered and non-registered accounts. You are free to choose between both RRSP and TFSA account types in the setup wizard.
Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade has a easy to use mobile app that is offered on iOS and also Android. The mobile app makes the registration steps and the trading of stocks and ETFs truly easy.
So Is Wealthsimple Trade Trustworthy?
Of course. Wealthsimple Trade is legit. Wealthsimple boasts more than 15 billion Canadian of Assets Under Management (AUM). they’ve been in business for more than 7 years and at this time employs more than 600 people. The primary owner is the respected publicly traded Canadian entity Power Corp of Canada. Weapthsimple Trade is the very first no-fees online discount brokerage operating in Canada.
But How Can I Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it very straight forward to add money to your new account. Just connect the app to a chequing or savings account to your Trade account, then add funds to your account in only a few clicks. Deposits from banks to Wealthsimple typically take just a few days. Funds can also be moved back to your chequing or savings accounts using the exact same steps.
Which Other Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is equivalent to E-Transfers that allow anyone to quickly and easily transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to get ready for tax season and file your tax return online free. It’s advertised as simple, accurate and always free income tax filing.
Wealthsimple Spend – A combination pre paid visa and savings product which allows one to recieve 1% cashback on your everyday purchases, as well as earn a very competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform that offers a bunch of different courses on saving, investing, crypto, home buying and much more.
All of the listed features, including Wealthsimple Trade can be accessed in the mobile app and on the site with one login.
But How do I Get Started With Wealthsimple Trade?
Click here to setup a Wealthsimple Trade account. For a special registration bonus to our readers you’ll receive the cash value of a random Canadian stock worth $25 up to $4,500 Canadian when you deposit to your account.
But What if I Still Have Questions About Wealthsimple Reddit 2021?
If this article hasn’t answered each of your questions, and you’re still looking for further facts relating to Wealthsimple Reddit 2021, check out the Wealthsimple website for answers to each your questions.