What is Wealthsimple?
Wealthsimple is a simple to use Canadian online Financial, stock plus crypto trading platform that distinguishes itself from the competition by charging absolutely no fees.
A online financial services business founded in the Fall of twenty fourteen exclusively as a robo-advisor algorithmic automated trading app named Wealthsimple Invest, it has evolved substantially over the past 8 years to also feature Wealthsimple Trade, a zero fee discount brokerage app.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade lets Canadian consumers trade both individual stocks and ETFs without needing to pay commissions. The exception to this is when trading securities that are denominated in US Dollars. In that case, they charge a nominal currency conversion fee when buying and selling. However, past us are the days of having to pay $7-12 per trade with digital discount brokerages as was expected just a couple years ago.
Exactly How Much Money Will I Need to Have to Start Investing on Wealthsimple Trade?
Wealthsimple is unique in that they allow new customers to make a minimum deposit of just $1. Many alternative banks and brokerages have sizeable initial deposit amounts of 1K-5k. This makes it difficult for the every day new investor to get started. With Wealthsimple Trade, you won’t need to be wealthy to get started with trading stocks and ETFs.
So Does Wealthsimple Trade Have TFSA Accounts?
Yes. Wealthsimple Trade has available CRA registered and non-CRA-registered accounts. You may select between both RRSP and TFSA accounts during the setup process.
Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade offers a well designed mobile app available on Apple and also Google Play. The app makes the registration phase and the trading of stocks and ETFs simple.
But Is Wealthsimple Trade Secure?
Yes. Wealthsimple Trade is secure. Wealthsimple boasts more than 15 billion Canadian in Assets Under Management . they’ve been operating for more than 7 years and also at this time employs more than 600 Canadians. The primary owner is the publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade is the very first no-fees digital discount brokerage operating in Canada.
So How Do I Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it so straight forward to fund an account. Just connect the app to a chequing or savings account to your Trade account, then add money to your account in simply a few steps. Deposits from financial institutions to Wealthsimple typically take only a few days. Funds can the same way can be withdrawn a chequing or savings accounts with the same method.
Which Other Features and Products Are Available?
Wealthsimple Cash – An alternative to E-Transfers which allows one to quickly and simply transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you need to get ready for this tax season and file your tax return online for free. It’s pitched to be simple, accurate and always totally free income tax filing.
Wealthsimple Spend – A combination pre paid debit card and savings product that allows you to get 1% cashback on your everyday purchases, and also get a very competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance platform that offers a variety of different courses on different topics such as saving, investing, crypto, real estate and more.
Each of the mentioned products, along with Wealthsimple Trade can be accessed inside the app or at their site with your Wealthsimple login.
So How do I Start Using Wealthsimple Trade?
Click here to signup for a Wealthsimple Trade account. As a special registration bonus to our readers you’ll get the equivalent cash value of a share worth up to $4,500 Canadian once you add funds to your account.
So What if I Still Have Questions About Wealthsimple Visa Review?
If this review hasn’t answered all of your questions, and you’re still searching for more information relating to Wealthsimple Visa Review, visit the Wealthsimple site to get answers to each your questions.