What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian digital investing, securities plus crypto trading platform that differentiates itself from the competition by charging absolutely no fees.
A Toronto, Ontario based online financial services company launched in the Fall of twenty fourteen exclusively as a robo-advisor algorithmic automated trading platform named Wealthsimple Invest, it has grown significantly over the last 8 years to include Wealthsimple Trade, a no fee discount brokerage service.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade allows consumers trade single stocks and also ETFs without having to pay any commissions. The exception to this is when you’re trading securities that are denominated in USD. In which case, they do charge a currency conversion fee when buying and selling. However, past us are the days of having to pay $7-12 for each trade with digital discount brokerages as was expected a few years past.
How Much Cash Will I Need to Have to Start Investing With Wealthsimple Trade?
Wealthsimple is cool in that they will allow investors to make a minimum deposit of just $1. Many traditional banks and brokerages have quite large minimum deposit amounts of $1,000-5k. This makes it hard for the every day new investor to get started. With Wealthsimple Trade, you won’t need to be wealthy to begin trading stocks and ETFs.
But Does Wealthsimple Trade Have TFSA Accounts?
They do. Wealthsimple Trade has CRA registered and non-CRA-registered account types. One are free to choose between both RRSP and TFSA accounts during the setup wizard.
But Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade offers a easy to use mobile app that is available to download on both iOS and also Android. The app makes the signup phase and trading of stocks and ETFs incredibly simple.
But Is Wealthsimple Trade Trustworthy?
Most definitely. Wealthsimple Trade is trustworthy. Wealthsimple reports over 15 billion Canadian in Assets Under Management . they’ve been expanding for more than 7 years and also employs roughly 600 folks. The majority owner is the respected publicly traded Canadian entity Power Corp of Canada. Weapthsimple Trade was the first no-fee digital brokerage operating in Canada.
So How Does One Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it quite easy to deposit to your account. Simply connect a chequing or savings account to your Trade account, and then add money to your account in just a few clicks. Deposits from financial institutions to Wealthsimple normally take just a few days. Funds can also be moved back to your chequing or savings account by using the exact same method.
Which Other Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is equivalent to Interac E-transfers that allows you to quickly and simply send money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for this tax season and file your tax return online for free. It’s described to be easy, accurate and always totally free income tax filing.
Wealthsimple Spend – A hybrid prepaid visa and savings product which lets you to earn 1% cashback on your everyday purchases, as well as earn a very competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform that offers a variety of courses on topics like saving, investments, crypto, real estate and more.
All of the listed products, including Wealthsimple Trade may be accessed on the app or on the website with one login.
But How Can I Start Using Wealthsimple Trade?
Click here to register for your Wealthsimple Trade account. As an exclusive signup bonus for our audience you’ll get the equivalent cash value of a share worth $25 up to $4,500 Canadian as soon as you add funds to your account.
What if I Still Have Questions Related to Yield Wealthsimple?
If this blog post still hasn’t given you the answers to all of your questions, and you’re still looking for further specific information about Yield Wealthsimple, visit the Wealthsimple website to get answers to all your questions.