What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian online investing, securities plus crypto trading platform that sets itself apart from its competitors by charging absolutely no fees.
A fintech company launched in Fall of twenty fourteen exclusively as a robo-advisor algorithmic trading app named Wealthsimple Invest, it has changed significantly over the previous eight years to also feature Wealthsimple Trade, a zero fees discount brokerage service.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade allows Canadian consumers to trade both stand alone stocks and also ETFs without needing to pay fees. The exception is when you’re trading stocks and ETFs that are displayed in USD currency. In which case, they will charge a currency conversion fee when buying and selling. But, past us are the times of having to pay Upwards of $7 for each trade with online discount brokerages as was normal only a few years ago.
Exactly How Much Cash Will I Need to Have in Order to Start Investing on Wealthsimple Trade?
Wealthsimple is cool in that they will allow Canadian investors to make a minimum deposit of only $1. Many alternative banks and brokerages have sizeable initial deposit amounts of $1,000-5k. This makes it hard for the common new investor to get started. With Wealthsimple Trade, one doesn’t have to already be wealthy to begin trading stocks and ETFs.
Does Wealthsimple Trade Offer RRSP Accounts?
It does. Wealthsimple Trade has both CRA registered and non-registered accounts. You are free to select both RRSP and TFSA accounts in the setup process.
But Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade offers a easy to use mobile app that is offered to download on iOS and also Android. The smartphone app makes the enrollment phase and the trading of stocks and ETFs easy.
But Is Wealthsimple Trade Legit?
Of course. Wealthsimple Trade is legit. Wealthsimple reports over 15 billion CAD in Assets Under Management (AUM). they’ve been expanding for more than 7 years and also now employs about 600 folks. The main owner is the respected public Canadian company Power Corp of Canada. Weapthsimple Trade was the very first no-fee online discount brokerage to operate in Canada.
How Do I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it incredibly simple to fund your new account. Just connect to a chequing or savings account with your Trade account, then add money to your account in simply a couple of clicks. Deposits from financial institutions to Wealthsimple typically take a couple of days. Funds can the same way can be withdrawn a chequing or savings accounts through the same method.
Which Additional Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is alternative to E-Transfers which allows anyone to quickly and efficiently transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you require to prepare for this tax season and submit your tax return online for free. It’s described to be simple, accurate and always free tax filing.
Wealthsimple Spend – A hybrid pre paid visa and savings product that lets you to earn 1% cashback on your purchases, as well as get a competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform which offers a bunch of online courses on saving, investments, crypto, mortgages and much more.
Each of the mentioned features, including Wealthsimple Trade can be found in the mobile app and from the website with a single login.
But How Can I Begin Using Wealthsimple Trade?
Click here to signup for your Wealthsimple Trade account. As an exclusive signup bonus for our audience you will get the cash value of a share valued at $25 up to $4,500 CAD as soon as you add funds to your account.
But What if I Still Have Questions Concerning Wealthsimple Tax Calculator?
If this article hasn’t given you the answers to each of your questions, and you’re still looking for further specific information about Wealthsimple Tax Calculator, check out the Wealthsimple site to get answers to each your questions.