What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian digital investing, stock plus crypto trading app that sets itself apart from other apps by charging no fees.
A Toronto, Ontario based fintech business launched in Fall twenty fourteen exclusively as a robo-advisor automated trading platform called Wealthsimple Invest, it has improved considerably over the last 8 years to also include Wealthsimple Trade, a zero fees discount brokerage platform.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade lets Canadian consumers to trade both single stocks and also ETFs without paying commissions. The exception to this is when trading ETFs and stocks which are listed in USD. In which case, they do charge a small currency conversion fee both when buying and selling. But, behind us are the times of having to pay Upwards of $7 per trade with digital discount brokerages as was normal just a couple years past.
How Much Cash Will I Need to Have to Start With Wealthsimple Trade?
Wealthsimple is awesome in that they allow investors to make a minimum deposit of just $1. The majority of alternative banks and brokerages have quite large minimum deposit amounts of $1,000-5K. This makes it difficult for the typical new investor to get started. With Wealthsimple Trade, one doesn’t have to already be wealthy to get started with trading stocks and ETFs.
So Does Wealthsimple Trade Have RRSP Accounts?
Of course. Wealthsimple Trade has both registered and non-CRA-registered accounts. You are able to choose both RRSP and TFSA accounts in the setup wizard.
Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade has a convenient mobile app that is offered to download on Apple and Android. The mobile app makes the enrollment phase and trading of stocks and ETFs truly easy.
But Is Wealthsimple Trade Secure?
Definitely. Wealthsimple Trade is secure. Wealthsimple reports in excess of 15 billion Canadian of Assets Under Management . they’ve been expanding for more than 7 years and also at this time employs over 600 folks. The majority shareholder is the public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the very first no-fees online discount brokerage to operate in Canada.
But How Does One Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it quite simple to add funds to your new account. Simply connect to a chequing or savings account to your Trade account, and then add money to your account in just a couple of clicks. Deposits from banks to Wealthsimple typically take just a few days. Funds can also be withdrawn a chequing or savings account through the same process.
What Other Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is alternative to Interac e-Transfers that allow anyone 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 tax return online for free. It’s pitched as simple, accurate and always free tax filing.
Wealthsimple Spend – A hybrid prepaid visa and savings product that lets one to recieve 1% cashback on all your purchases, and also get a competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform that includes a variety of different online courses on different topics such as saving, investments, crypto, real estate and much more.
Each of the listed features, including Wealthsimple Trade may be accessed within the app or at the site with one login.
So How do I Get Started With Wealthsimple Trade?
Click here to create a Wealthsimple Trade account. As an exclusive registration bonus to our readers you’ll receive the equivalent cash value of a share valued at $25 up to $4,500 Canadian when you add funds to your account.
But What if I Still Have Additional Questions Concerning Why Does Wealthsimple Take 3 Days?
If this article still hasn’t given you the answers to all of your questions, and you’re still searching for more info about Why Does Wealthsimple Take 3 Days, visit the Wealthsimple site to find answers to every one of your questions.