What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian digital Financial, stocks and crypto trading web app that distinguishes itself from its competitors by charging no fees.
A Toronto, Ontario based fintech company founded in the Fall twenty fourteen originally as a robo-advisor trading platform named Wealthsimple Invest, it has evolved substantially over the previous 8 years to feature Wealthsimple Trade, a zero fee discount brokerage platform.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade allows investors to trade individual stocks and also ETFs without having to pay any fees. The exception is when trading stocks and ETFs that are listed in USD currency. In this case, they will charge a small currency conversion fee both when buying and selling. However, gone are the days of having to pay more than $7 for each trade with digital discount brokerages as was the norm only a couple years past.
Exactly How Much Cash Will I Need to Have to Start Investing With Wealthsimple Trade?
Wealthsimple is awesome in that they will allow investors to make a minimum deposit of just $1. The majority of alternative banks and brokerages have quite large min deposit amounts of $1000-5k. This makes it impossible for the everyday investor to get started. With Wealthsimple Trade, you don’t have to already be wealthy to begin trading stocks and ETFs.
So Does Wealthsimple Trade Have TFSA Accounts?
It does. Wealthsimple Trade offers both CRA registered and non-CRA-registered account types. One are free to choose between both RRSP and TFSA account types during the setup wizard.
So Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade has a easy to use mobile app that is offered to download on iOS and also Google Play. The mobile app makes the registration steps and also the trading of stocks and ETFs truly a breeze.
But Is Wealthsimple Trade Secure?
Definitely. Wealthsimple Trade is safe. Wealthsimple boasts over 15 billion Canadian of Assets Under Management (AUM). They have been expanding for more than 7 years and employs about 600 folks. The primary shareholder is the admired public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the very first no-fees digital discount brokerage operating in Canada.
How Can I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it quite straight forward to deposit to your new account. Simply connect the app to a chequing or savings account with your Trade account, and add money to your account in only a few steps. Deposits from your bank to Wealthsimple usually take only a couple of days. Funds can just as easily be moved to your chequing or savings accounts using the same method.
Which Other Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – An alternative to E-Transfers which allow one to quickly and simply send money to friends and family in Canada.
Wealthsimple Tax – Everything you need to get ready for this tax season and file your taxes online free. It’s described as easy, accurate and always free tax return filing.
Wealthsimple Spend – A hybrid pre paid visa and savings account which allows one to earn 1% cashback on your everyday spending, and also earn a competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform that offers a variety of different online courses on topics like saving, investing, crypto, mortgages and more.
Every one of the mentioned products, including Wealthsimple Trade may be found within the mobile app and at the site with a single login.
But How do I Get Started Using Wealthsimple Trade?
Click here to setup a new Wealthsimple Trade account. For an exclusive registration bonus offer to our audience you will get the equivalent cash value of a Canadian stock worth $25 up to $4,500 CAD once you make an initial deposit to your account.
So What if I Still Have Questions About Wealthsimple Us Citizen?
If this article still hasn’t answered each of your questions, and you’re still browsing for more answers about Wealthsimple Us Citizen, go to the Wealthsimple site to get answers to all your questions.