What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian web based investing, stocks and crypto trading web app that differentiates itself from its competitors by charging absolutely no fees.
A Toronto, Ontario based online financial services business founded in Fall 2014 originally as a robo advisor automated trading platform called Wealthsimple Invest, it has changed significantly over the last eight years to feature Wealthsimple Trade, a no fees discount brokerage platform.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade lets Canadian consumers trade both individual stocks and also ETFs without having to pay any fees. The exception is when trading stocks that are denominated in USD. In this case, they charge a small currency conversion fee when buying and selling. But, gone are the days of paying more than $7 for each trade with online discount brokerages as was the norm just a few years ago.
How Much Cash Will I Need to Have in Order to Begin Investing With Wealthsimple Trade?
Wealthsimple is awesome such that they allow Canadians to make a minimum deposit of only $1. Most alternative banks and discount brokerages have large initial deposit amounts of $1,000-5K. This makes it tough for the everyday 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 Have TFSA Accounts?
It does. Wealthsimple Trade has both registered and non-registered accounts. One may choose both RRSP and TFSA account types in the setup process.
So Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade offers a convenient mobile app offered to download on both IOS and also Android. The app makes the registration steps and trading of stocks and ETFs incredibly a breeze.
So Is Wealthsimple Trade Legit?
Definitely. Wealthsimple Trade is secure. Wealthsimple has in excess of 15 billion Canadian in Assets Under Management (AUM). They have been operating for more than 7 years and also at this time employs more than 600 folks. The primary owner is the admired public Canadian entity Power Corp of Canada. Weapthsimple Trade is the first no-fees digital brokerage operating in Canada.
So How Can I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it incredibly easy to fund your account. Simply connect to a chequing or savings account with your Trade account, and add funds to your account in simply a couple of clicks. Deposits from financial institutions to Wealthsimple typically take only a couple of days. Funds can also be moved to your chequing or savings account through the same steps.
Which Additional Benefits and Products Are Available?
Wealthsimple Cash – This is alternative to Interac E-transfers that allow anyone to quickly and easily send money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for tax season and submit your taxes online for free. It’s advertised to be easy, accurate and always free tax filing.
Wealthsimple Spend – A hybrid prepaid visa and savings product that allows one to get 1% cashback on your everyday spending, and also get a competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform that includes a bunch of different online courses on topics like saving, investments, crypto, real estate and much more.
Every one of the listed products, along with Wealthsimple Trade may be found within the app and at their website with your Wealthsimple login.
How Should I Begin With Wealthsimple Trade?
Click here to register for your Wealthsimple Trade account. For a special signup bonus to our audience you will receive the equivalent cash value of a random Canadian stock worth up to $4,500 Canadian when you deposit to your account.
So What if I Still Have Additional Questions Concerning Wealthsimple S&p 500?
If this blog post hasn’t answered each of your questions, and you’re searching for further answers about Wealthsimple S&p 500, visit the Wealthsimple site to find answers to all your questions.