What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian digital Financial, stock plus crypto trading platform that differentiates itself from other apps by charging absolutely no fees.
A online financial services business launched in Fall twenty fourteen exclusively as a robo-advisor trading platform called Wealthsimple Invest, it has evolved significantly over the past 8 years to also feature Wealthsimple Trade, a zero fee discount brokerage app.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade allows investors trade both single stocks and ETFs without having to pay fees. The exception is when trading stocks that are displayed in USD. In this case, they charge a currency conversion fee when buying and selling. But, past us are the times of paying more than $7 per trade with digital discount brokerages as was expected just a few years ago.
How Much Cash Will I Need in Order to Start Investing With Wealthsimple Trade?
Wealthsimple is special in that they will allow Canadian investors to make a minimum deposit of only $1. The majority of alternative banks and discount brokerages have sizeable minimum deposit amounts of 1K-5K. This makes it impossible for the every day new investor to get started. With Wealthsimple Trade, you don’t need to already be wealthy to get started with trading stocks and ETFs.
But Does Wealthsimple Trade Have TFSA Accounts?
They do. Wealthsimple Trade offers both registered and non-registered account types. One can choose both RRSP and TFSA account types during the setup phase.
But Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade has a well designed mobile app offered on IOS and also Google Play. The smartphone app makes the enrollment process and trading of stocks and ETFs truly easy.
But Is Wealthsimple Trade Secure?
Yes. Wealthsimple Trade is trustworthy. Wealthsimple boasts in excess of 15 billion CAD of Assets Under Management . These folks have been in business for more than 7 years and also employs roughly 600 people. The primary shareholder is the admired public Canadian company Power Corp of Canada. Weapthsimple Trade was the very first no-fee digital discount brokerage operating in Canada.
But How Do I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it easy to add funds to a new account. Simply connect a chequing or savings account to your Trade account, and then fund your account in just a couple of clicks. Deposits from your bank to Wealthsimple usually take only a couple of days. Funds can also be withdrawn your chequing or savings account through the same steps.
What Other Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is equivalent to E-transfers that allows you to quickly and efficiently transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you need to prepare for tax season and submit your taxes online for free. It’s pitched to be easy, accurate and always free income tax filing.
Wealthsimple Spend – A combination prepaid debit card and savings product which allows one to earn 1% cashback on your everyday spending, and also get a very competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform which includes a bunch of online courses on different topics such as saving, investing, crypto, real estate and more.
All of the listed features, including Wealthsimple Trade can be found within the mobile app and at their website with your Wealthsimple login.
So How Should I Start Using Wealthsimple Trade?
Click here to setup a new Wealthsimple Trade account. As an exclusive registration bonus offer for our audience you’ll get the cash value of a random stock worth $25 up to $4,500 Canadian when you make an initial deposit to your account.
But What if I Still Have Additional Questions Related to Wealthsimple Youth Account?
If this article didn’t given you the answers to each of your questions, and you’re browsing for additional specific answers relating to Wealthsimple Youth Account, go to the Wealthsimple website for answers to each your questions.