What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian online Financial, stock plus crypto trading platform that differentiates itself from its competitors by charging no fees.
A Toronto, Ontario based online financial services company founded in Fall twenty fourteen exclusively as a robo advisor algorithmic automated trading app named Wealthsimple Invest, it has evolved substantially over the past 8 years to include Wealthsimple Trade, a no fees discount brokerage service.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade lets investors to trade individual stocks and also ETFs without needing to pay any commissions. The exception to this is when you’re trading stocks and ETFs that are displayed in USD. In this case, they will charge a currency conversion fee when buying and selling. However, behind us are the days of paying more than $7 per each trade with digital discount brokerages as was the norm just a few years past.
How Much Cash Will I Need in Order to Get Started on Wealthsimple Trade?
Wealthsimple is awesome such that they will allow investors to make a minimum deposit of only $1. The majority of alternative banks and brokerages have quite large minimum deposit amounts of 1k-$5,000. This makes it hard for the typical new investor to get started. With Wealthsimple Trade, you won’t need to already be wealthy to begin trading stocks and ETFs.
Does Wealthsimple Trade Have Registered Accounts?
Yes. Wealthsimple Trade offers both registered and non-CRA-registered account types. One are able to choose both RRSP and TFSA account types in the setup phase.
So Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade offers a convenient mobile app that is available to download on both iOS and Android. The app makes the signup steps and the trading of stocks and ETFs truly a breeze.
But Is Wealthsimple Trade Safe?
Most definitely. Wealthsimple Trade is secure. Wealthsimple has more than 15 billion Canadian in Assets Under Management (AUM). These folks have been operating for more than 7 years and also currently employs about 600 people. The primary owner is the large public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the first no-fees online brokerage to operate in Canada.
How Can I Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it so straight forward to deposit to an account. Simply connect to a chequing or savings account to your Trade account, and then add funds to your account in only a few clicks. Deposits from your bank to Wealthsimple normally take only a couple of days. Funds can also be moved to your chequing or savings accounts by the same steps.
What Additional Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An alternative to Interac E-transfers that allow one to quickly and easily transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you require to get ready for tax year and file your taxes online free. It’s described to be simple, accurate and always totally free income tax filing.
Wealthsimple Spend – A combination prepaid debit card and savings product that lets one to get 1% cashback on your everyday purchases, and also get a competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform that includes a ton of different online courses on topics like saving, investments, crypto, real estate and much more.
Every one of the listed products, along with Wealthsimple Trade may be found on the mobile app or on the site with your Wealthsimple login.
How Should I Get Started Using Wealthsimple Trade?
Click here to register for a Wealthsimple Trade account. For an exclusive signup bonus offer for our audience you will receive the equivalent cash value of a share worth up to $4,500 Canadian once you fund your account.
But What if I Still Have Additional Questions Concerning What Is Wealthsimple Cash?
If this article didn’t given you the answers to each of your questions, and you’re browsing for more specific answers about What Is Wealthsimple Cash, go to the Wealthsimple site for answers to each your questions.