What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian online investing, securities plus crypto trading web app that distinguishes itself from similar apps by charging no fees.
A Toronto, Ontario based fintech business launched in Fall of twenty fourteen exclusively as a robo advisor automated trading app named Wealthsimple Invest, it has changed substantially over the past 8 years to also feature Wealthsimple Trade, a no fee discount brokerage service.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade lets Canadian investors to trade single stocks and ETFs without paying any fees. The exception to this is when you’re trading stocks that are denominated in US Dollars. In this case, they will charge a currency conversion fee when buying and selling. But, past us are the days of paying $7-12 for each trade with digital discount brokerages as was the norm a few years ago.
How Much in Funds do I Need in Order to Start on Wealthsimple Trade?
Wealthsimple is special in that they allow Canadian investors to make a minimum deposit of only $1. The majority of alternative banks and discount brokerages have large min deposit amounts of 1K-$5,000. This makes it impossible for the common investor to get started. With Wealthsimple Trade, one doesn’t need to be wealthy to begin trading stocks and ETFs.
Does Wealthsimple Trade Offer TFSA Accounts?
Yes. Wealthsimple Trade has registered and non-registered account types. You may choose between both RRSP and TFSA account types during the setup phase.
Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade offers a convenient mobile app available to download on both IOS and Google Play. The smartphone app makes the signup steps and the trading of stocks and ETFs incredibly a breeze.
So Is Wealthsimple Trade Legit?
Definitely. Wealthsimple Trade is legit. Wealthsimple reports in excess of 15 billion Canadian of Assets Under Management (AUM). They have been doing business for more than 7 years and also employs about 600 people. The majority shareholder is the public Canadian company Power Corp of Canada. Weapthsimple Trade is the very first no-fees digital brokerage operating in Canada.
How Can I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it so simple to add money to a new account. Just connect a chequing or savings account with your Trade account, and then add money to your account in just a couple of steps. Deposits from financial institutions to Wealthsimple usually take just a few days. Funds can the same way can be moved back to a chequing or savings accounts by using the same steps.
Which Other Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – An alternative to E-transfers that allows you to quickly and efficiently transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you need to get ready for this tax season and submit your tax return online free. It’s advertised as simple, accurate and always totally free tax filing.
Wealthsimple Spend – A hybrid pre paid visa and savings account that lets one to get 1% cashback on your purchases, as well as earn a competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance platform which offers a variety of courses on different topics such as saving, investments, crypto, home buying and more.
All of the mentioned products, along with Wealthsimple Trade may be found within the app or from the site with one login.
So How Should I Start With Wealthsimple Trade?
Click here to create a Wealthsimple Trade account. For a special signup bonus to our audience you will receive the cash value of a random Canadian stock worth up to $4,500 Canadian when you make an initial deposit to your account.
So What if I Still Have Additional Questions About Wealthsimple Update Address?
If this blog post hasn’t given you the answers to each of your questions, and you’re browsing for more specific answers relating to Wealthsimple Update Address, go to the Wealthsimple site to find answers to all your questions.