What is Wealthsimple?
Wealthsimple is an easy to use Canadian web based Financial, stock plus crypto trading platform that sets itself apart from its competitors by charging absolutely no fees.
A fintech business founded in Fall twenty fourteen originally as a robo advisor algorithmic automated trading app called Wealthsimple Invest, it has evolved substantially over the previous eight years to feature Wealthsimple Trade, a no fees discount brokerage app.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade allows investors trade stand alone stocks and ETFs without having to pay any fees. The exception is when trading stocks that are listed in USD. In which case, they will charge a small currency conversion fee both when buying and selling. But, behind us are the days of having to pay $7-12 per trade with online discount brokerages as was normal a couple years past.
Exactly How Much Money Will I Need to Have in Order to Begin Investing on Wealthsimple Trade?
Wealthsimple is special such that they allow investors to make a minimum deposit of just $1. The majority of alternative banks and discount brokerages have large minimum deposit amounts of $1,000-$5,000. This makes it difficult for the everyday new investor to start investing. With Wealthsimple Trade, you don’t have to be wealthy to get started with trading stocks and ETFs.
Does Wealthsimple Trade Offer Registered Accounts?
They do. Wealthsimple Trade offers CRA registered and non-registered accounts. You are free to choose 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 both IOS and also Google Play. The app makes the registration process and also the trading of stocks and ETFs easy.
Is Wealthsimple Trade Secure?
Yes. Wealthsimple Trade is secure. Wealthsimple reports over 15 billion CAD in Assets Under Management (AUM). This company has been doing business for more than 7 years and employs over 600 people. The primary owner is the respected publicly traded Canadian entity Power Corp of Canada. Weapthsimple Trade was the very first no-fees online discount brokerage operating in Canada.
So How Does One Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it quite easy to add money to your new account. Just connect a chequing or savings account to your Trade account, and add money to your account in just a couple of clicks. Deposits from your bank to Wealthsimple usually take just a few days. Funds can the same way can be withdrawn your chequing or savings account by using the exact same steps.
What Additional Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is equivalent to e-transfers that allows one to quickly and efficiently transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to get ready for tax year and file your tax return online for free. It’s pitched as simple, accurate and always free income tax filing.
Wealthsimple Spend – A hybrid pre paid debit card and savings account that lets one to recieve 1% cashback on all your spending, and also earn a very competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform which includes a bunch of courses on topics like saving, investing, crypto, home buying and more.
Every one of the above products, along with Wealthsimple Trade can be accessed inside the mobile app and from the site with one login.
How Can I Get Started Using Wealthsimple Trade?
Click here to create a new Wealthsimple Trade account. As a special registration bonus offer to our readers you’ll get the equivalent cash value of a stock worth $25 up to $4,500 Canadian as soon as you fund your account.
So What if I Still Have Additional Questions About Wealthsimple Safe?
If this review didn’t given you the answers to all of your questions, and you’re still browsing for further specific info about Wealthsimple Safe, visit the Wealthsimple website to get answers to all your questions.