What is Wealthsimple?
Wealthsimple is an easy to use Canadian web based investing, securities plus crypto trading web app that distinguishes itself from the competition by charging absolutely no fees.
A Toronto, Ontario based online financial services company launched in the Fall of twenty fourteen exclusively as a robo advisor algorithmic trading app named Wealthsimple Invest, it has changed considerably over the past eight years to also feature Wealthsimple Trade, a no fees discount brokerage app.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade lets investors trade individual stocks and also ETFs without paying commissions. The exception is when you’re trading ETFs and stocks that are displayed in USD. In this case, they do charge a small currency conversion fee when buying and selling. However, behind us are the times of paying more than $7 per trade with online discount brokerages as was the norm a few years past.
Exactly How Much Cash do I Need to Have to Start With Wealthsimple Trade?
Wealthsimple is special in that they will allow Canadians to make a minimum deposit of only $1. The majority of alternative banks and brokerages have sizeable min deposit amounts of $1,000-5k. This makes it hard for the normal investor to start. With Wealthsimple Trade, you don’t need to already be wealthy to start trading stocks and ETFs.
But Does Wealthsimple Trade Offer Registered Accounts?
It does. Wealthsimple Trade has registered and non-registered accounts. One can choose between both RRSP and TFSA accounts in the setup phase.
So Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade has a modern mobile app that is available on iOS and Google Play. The app makes the signup process and also the trading of stocks and ETFs very easy.
But Is Wealthsimple Trade Safe?
Definitely. Wealthsimple Trade is secure. Wealthsimple reports more than 15 billion Canadian of Assets Under Management (AUM). they’ve been expanding for more than 7 years and currently employs over 600 Canadians. The controlling shareholder is the respected publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the very first no-fee online brokerage operating in Canada.
So How Does One Fund a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it very simple to add money to your new account. Just connect the app to a chequing or savings account with your Trade account, and add funds to your account in just a couple of steps. Deposits from financial institutions to Wealthsimple normally take just a few days. Funds can also be moved back to a chequing or savings account with the same steps.
Which Additional Benefits and Products Are Available?
Wealthsimple Cash – This is alternative to e-transfers which allows you to quickly and easily send money to friends and family in Canada.
Wealthsimple Tax – Everything you need to prepare for this tax year and submit your taxes online free. It’s pitched as easy, accurate and always totally free tax return filing.
Wealthsimple Spend – A hybrid prepaid visa and savings account which allows one to recieve 1% cashback on all your everyday spending, and also get a very competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance platform which offers a ton of courses on different topics such as saving, investments, crypto, mortgages and more.
Each of the mentioned products, including Wealthsimple Trade can be accessed within the app and on their site with one login.
But How Can I Begin Using Wealthsimple Trade?
Click here to create your Wealthsimple Trade account. For a special registration bonus offer for our readers you will receive the equivalent cash value of a random Canadian stock valued at $25 up to $4,500 Canadian when you make an initial deposit to your account.
So What if I Still Have Additional Questions About Wealthsimple Us Fees?
If this article didn’t answered each of your questions, and you’re looking for additional specific facts relating to Wealthsimple Us Fees, go to the Wealthsimple website to find answers to every one of your questions.