Wealthsimple Review 2022: Wealthsimple Zero Commission Reddit

What is Wealthsimple?

Wealthsimple is an easy to use Canadian online Financial, stocks plus crypto trading app that sets itself apart from similar apps by charging absolutely no fees. 

A fintech business founded in Autumn twenty fourteen originally as a robo advisor trading app named Wealthsimple Invest, it has improved significantly over the past eight years to also include Wealthsimple Trade, a no fee discount brokerage service.

Does Wealthsimple Trade Charge Any Type of Fees?

Wealthsimple Trade allows Canadian investors to trade single stocks and also ETFs without having to pay commissions. The exception is when you’re trading ETFs and stocks which are denominated in USD currency. In which case, they will charge a nominal currency conversion fee both when buying and selling. However, gone are the days of having to pay Upwards of $7 per trade with discount brokerages as was the case just a few years past.

How Much Cash do I Need to Start Investing With Wealthsimple Trade?

Wealthsimple is awesome in that they will allow Canadians to make a minimum deposit of only $1. Many traditional banks and discount brokerages have sizeable initial deposit amounts of $1000-5k. This makes it difficult for the normal investor to get started. With Wealthsimple Trade, you don’t need to already be wealthy to get started with trading stocks and ETFs.

So Does Wealthsimple Trade Have TFSA Accounts?

They do. Wealthsimple Trade has available registered and non-CRA-registered accounts. You are able to choose between both RRSP and TFSA accounts during the setup phase. 

So Does Wealthsimple Trade Offer a Mobile App?

Yes, Wealthsimple Trade has a easy to use mobile app available to download on both Apple and Android. The mobile app makes the registration process and trading of stocks and ETFs super painless.

But Is Wealthsimple Trade Safe?

. Wealthsimple Trade is secure. Wealthsimple reports in excess of 15 billion CAD in Assets Under Management . This company has been expanding for more than 7 years and currently employs about 600 Canadians. The majority shareholder is the large publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade was the very first no-fee digital discount brokerage to operate in Canada.

But How Does One Fund a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it incredibly easy to add funds to your new account. Simply connect a chequing or savings account with your Trade account, and then add funds to your account in just a few steps. Deposits from financial institutions to Wealthsimple usually take just a couple of days. Funds can also be moved back to a chequing or savings accounts by the exact same process.

Which Additional Benefits and Products Are Offered by Wealthsimple?

Wealthsimple Cash – An alternative to Interac e-Transfers that allow you to quickly and simply send cash to friends and family in Canada.

Wealthsimple Tax – Everything you’ll need to get ready for this tax season and file your taxes online free. It’s described to be easy, accurate and always totally free tax filing.

Wealthsimple Spend – A hybrid pre paid debit card and savings product which allows one to get 1% cashback on your everyday spending, and also get a competitive 1.5% interest rate on savings.

Personal Finance 101 – This is Wealthsimple’s free personal finance education platform that offers a variety of courses on saving, investments, crypto, real estate and more. 

Every one of the listed features, including Wealthsimple Trade may be found inside the app and from their site with a single login.

How Should I Begin With Wealthsimple Trade?

Click here to signup for a Wealthsimple Trade account. For an exclusive registration bonus offer to our readers you’ll receive the equivalent cash value of a Canadian stock valued at $25 up to $4,500 Canadian when you make an initial deposit to your account.

But What if I Still Have Questions Concerning Wealthsimple Zero Commission Reddit?

If this blog post hasn’t given you the answers to all of your questions, and you’re still browsing for additional specific information relating to Wealthsimple Zero Commission Reddit, visit the Wealthsimple site to find answers to every one of your questions.