What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian digital investing, stocks and crypto trading app that sets itself apart from the competition by charging absolutely no fees.
A Toronto, Ontario based online financial services company launched in Autumn twenty fourteen exclusively as a robo advisor automated trading app named Wealthsimple Invest, it has grown substantially over the previous eight years to also feature Wealthsimple Trade, a no fees discount brokerage platform.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade lets consumers to trade both stand alone stocks and also ETFs without having to pay commissions. The exception to this is when you’re trading securities that are listed in USD. In that case, they will charge a small currency conversion fee when buying and selling. However, behind us are the times of paying $7-12 per each trade with online discount brokerages as was normal a couple years ago.
How Much in Funds do I Need to Have to Start Investing on Wealthsimple Trade?
Wealthsimple is awesome in that they allow Canadians to make a minimum deposit of only $1. Many traditional banks and brokerages have quite large initial deposit amounts of 1K-$5000. This makes it tough for the normal new investor to get started. With Wealthsimple Trade, one doesn’t have to already be wealthy to begin trading stocks and ETFs.
So Does Wealthsimple Trade Offer RRSP Accounts?
It does. Wealthsimple Trade has registered and non-registered accounts. You may choose both RRSP and TFSA account types in the setup phase.
But Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade has a modern mobile app that is offered to download on both iOS and Android. The smartphone app makes the enrollment phase and trading of stocks and ETFs easy.
But Is Wealthsimple Trade Safe?
Definitely. Wealthsimple Trade is legit. Wealthsimple boasts over 15 billion CAD in Assets Under Management (AUM). This company has been operating for more than 7 years and also right now employs about 600 folks. The majority shareholder is the public Canadian corporation Power Corp of Canada. Weapthsimple Trade was the very first no-fees digital discount brokerage operating in Canada.
But How Can I Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it incredibly straight forward to deposit to an account. Just connect to a chequing or savings account with your Trade account, and add money to your account in simply a few steps. Deposits from your bank to Wealthsimple typically take a couple of days. Funds can also be withdrawn your chequing or savings account using the same method.
Which Additional Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is equivalent to Interac E-transfers which allows you to quickly and efficiently transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you require to get ready for tax season and file your taxes online for free. It’s advertised as easy, accurate and always totally free tax return filing.
Wealthsimple Spend – A combination pre paid visa and savings account that allows one to get 1% cashback on all your everyday purchases, and also get a competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform which offers a bunch of different courses on topics like saving, investing, crypto, real estate and much more.
All of the above features, along with Wealthsimple Trade can be found within the app or at the website with a single login.
So How Can I Start With Wealthsimple Trade?
Click here to signup for a new Wealthsimple Trade account. For a special registration bonus offer to our audience you’ll receive the cash value of a random Canadian stock worth $25 up to $4,500 CAD as soon as you add funds to your account.
What if I Still Have Additional Questions Concerning Wealthsimple Trade 0.5 Fee?
If this article didn’t given you the answers to each of your questions, and you’re still browsing for further specific info relating to Wealthsimple Trade 0.5 Fee, visit the Wealthsimple website to get answers to all your questions.