What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian web based investing, stock plus crypto trading web app that distinguishes itself from its competitors by charging no fees.
A Toronto, Ontario based online financial services business founded in Fall of twenty fourteen exclusively as a robo advisor algorithmic automated trading app named Wealthsimple Invest, it has changed substantially over the last 8 years to include Wealthsimple Trade, a zero fee discount brokerage platform.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade lets investors to trade individual stocks and also ETFs without needing to pay any commissions. The exception is when trading ETFs and stocks that are denominated in US Dollars. In that case, they do charge a currency conversion fee when buying and selling. However, behind us are the days of having to pay Upwards of $7 per each trade with discount brokerages as was common only a couple years past.
Exactly How Much in Funds Will I Need in Order to Start With Wealthsimple Trade?
Wealthsimple is cool in that they allow Canadians to make a minimum deposit of just $1. The majority of alternative banks and brokerages have sizeable minimum deposit amounts of 1K-$5000. This makes it difficult for the everyday new investor to start. With Wealthsimple Trade, you don’t need to already be wealthy to start trading stocks and ETFs.
So Does Wealthsimple Trade Have Registered Accounts?
They do. Wealthsimple Trade has available registered and non-CRA-registered account types. You may select between both RRSP and TFSA accounts in the setup wizard.
Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade has a modern mobile app that is available to download on both iOS and Android. The mobile app makes the signup steps and also the trading of stocks and ETFs painless.
Is Wealthsimple Trade Secure?
Most definitely. Wealthsimple Trade is safe. Wealthsimple reports over 15 billion CAD in Assets Under Management . These folks have been doing business for more than 7 years and right now employs about 600 folks. The controlling owner is the large public Canadian entity Power Corp of Canada. Weapthsimple Trade was the very first no-fee digital discount brokerage to operate in Canada.
So How Can I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it very easy to fund your account. Just connect a chequing or savings account with your Trade account, then fund your account in simply a few clicks. Deposits from your bank to Wealthsimple usually take a couple of days. Funds can the same way can be withdrawn your chequing or savings accounts through the same process.
What Other Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is alternative to Interac E-transfers which allows you to quickly and simply transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to get ready for tax season and file your taxes online free. It’s pitched as simple, accurate and always free tax filing.
Wealthsimple Spend – A hybrid prepaid visa and savings account that lets you to get 1% cashback on your purchases, and also earn a very competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance platform which offers a ton of different online courses on topics like saving, investing, crypto, mortgages and more.
Every one of the listed products, along with Wealthsimple Trade can be found on the mobile app or at their site with your Wealthsimple login.
How Should I Start With Wealthsimple Trade?
Click here to register for your Wealthsimple Trade account. For a special registration bonus to our readers you’ll get the cash value of a random share worth $25 up to $4,500 Canadian once you deposit to your account.
What if I Still Have Additional Questions Related to Wealthsimple Us?
If this blog post still hasn’t answered all of your questions, and you’re still browsing for additional specific facts relating to Wealthsimple Us, go to the Wealthsimple site to find answers to each your questions.