What is Wealthsimple?
Wealthsimple is a simple to use Canadian online Financial, stocks and crypto trading platform that sets itself apart from similar apps by charging no fees.
A Toronto, Ontario based fintech business launched in Fall twenty fourteen originally as a robo advisor trading app named Wealthsimple Invest, it has grown considerably over the last 8 years to include Wealthsimple Trade, a no fee discount brokerage service.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade allows Canadian investors trade both single stocks and also ETFs without paying any commissions. The exception to this is when you’re trading ETFs and stocks which are displayed in USD. In this case, they charge a small currency conversion fee both when buying and selling. But, gone are the days of having to pay $7-12 for each trade with digital discount brokerages as was common just a couple years past.
Exactly How Much Money do I Need to Start With Wealthsimple Trade?
Wealthsimple is special in that they will allow Canadian investors to make a minimum deposit of only $1. Most traditional banks and discount brokerages have large minimum deposit amounts of 1K-$5000. This makes it hard for the typical new investor to get started. With Wealthsimple Trade, you don’t need to already be wealthy to start trading stocks and ETFs.
But Does Wealthsimple Trade Have Registered Accounts?
Of course. Wealthsimple Trade has both CRA registered and non-registered accounts. You are able to select both RRSP and TFSA accounts during the setup wizard.
Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade offers a easy to use mobile app offered to download on both Apple and also Google Play. The app makes the signup phase and the trading of stocks and ETFs super easy.
But Is Wealthsimple Trade Safe?
Of course. Wealthsimple Trade is legit. Wealthsimple has more than 15 billion Canadian in Assets Under Management . These folks have been operating for more than 7 years and also employs over 600 Canadians. The majority owner is the respected public Canadian company Power Corp of Canada. Weapthsimple Trade was the very first no-fee online discount brokerage operating in Canada.
How Does One Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it very easy to fund a new account. Just connect the app to a chequing or savings account with your Trade account, and then fund your account in only a few steps. Deposits from banks to Wealthsimple usually take just a few days. Funds can also be withdrawn your chequing or savings account with the exact same method.
Which Other Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An alternative to Interac e-Transfers which allow you to quickly and easily send money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to get ready for this tax year and submit your taxes online free. It’s described as easy, accurate and always free tax filing.
Wealthsimple Spend – A hybrid pre paid debit card and savings account that lets you to get 1% cashback on your purchases, and also earn a very competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform that offers a variety of online courses on topics like saving, investing, crypto, real estate and more.
Each of the mentioned products, along with Wealthsimple Trade may be accessed inside the mobile app or at the website with your Wealthsimple login.
So How do I Begin Using Wealthsimple Trade?
Click here to signup for your Wealthsimple Trade account. For an exclusive registration bonus to our audience you’ll get the cash value of a share worth $25 up to $4,500 CAD once you make an initial deposit to your account.
So What if I Still Have Questions Related to Wealthsimple Risk Level 6?
If this article hasn’t given you the answers to all of your questions, and you’re looking for additional specific facts relating to Wealthsimple Risk Level 6, visit the Wealthsimple website to get answers to all your questions.