What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian digital Financial, stock plus crypto trading web app that sets itself apart from its competitors by charging no fees.
A Toronto, Ontario based fintech business launched in the Autumn of twenty fourteen exclusively as a robo advisor algorithmic trading platform named Wealthsimple Invest, it has improved significantly over the past 8 years to feature Wealthsimple Trade, a no fee discount brokerage platform.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade lets Canadian investors to trade both stand alone stocks and ETFs without paying any commissions. The exception to this is when trading securities which are displayed in US Dollars. In which case, they charge a currency conversion fee when buying and selling. But, gone are the times of paying more than $7 for each trade with online discount brokerages as was the norm a few years past.
Exactly How Much Money Will I Need to Have in Order to Start With Wealthsimple Trade?
Wealthsimple is special in that they will allow Canadians to make a minimum deposit of just $1. Most traditional banks and discount brokerages have large minimum deposit amounts of 1K-5k. This makes it tough for the common new investor to start investing. With Wealthsimple Trade, you don’t need to be wealthy to begin trading stocks and ETFs.
So Does Wealthsimple Trade Offer Registered Accounts?
They do. Wealthsimple Trade has both registered and non-CRA-registered account types. One can choose both RRSP and TFSA account types during the setup wizard.
But Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade has a modern mobile app that is available on both iOS and Android. The smartphone app makes the enrollment phase and the trading of stocks and ETFs super painless.
Is Wealthsimple Trade Secure?
For sure. Wealthsimple Trade is legit. Wealthsimple boasts more than 15 billion CAD in Assets Under Management (AUM). This company has been operating for more than 7 years and at this time employs over 600 people. The majority shareholder is the respected public Canadian corporation Power Corp of Canada. Weapthsimple Trade is the very first no-fee digital discount brokerage operating in Canada.
How Do I Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it very easy to add funds to a new account. Just connect a chequing or savings account with your Trade account, and add funds to your account in just a couple of clicks. Deposits from financial institutions to Wealthsimple usually take only a few days. Funds can the same way can be moved to a chequing or savings accounts using the same method.
Which Additional Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is alternative to Interac e-transfers that allows one to quickly and efficiently transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you need to prepare for this tax season and submit your tax return online for free. It’s pitched to be simple, accurate and always totally free tax filing.
Wealthsimple Spend – A combination pre paid visa and savings account that lets you to recieve 1% cashback on your spending, and also get a very competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform that includes a variety of courses on saving, investing, crypto, real estate and more.
Every one of the listed features, along with Wealthsimple Trade can be found on the mobile app or from their site with your Wealthsimple login.
But How Can I Get Started Using Wealthsimple Trade?
Click here to create a Wealthsimple Trade account. For a special signup bonus to our readers you will receive the equivalent cash value of a stock valued at $25 up to $4,500 Canadian as soon as you fund your account.
So What if I Still Have Additional Questions About Youtube Wealthsimple?
If this blog post still hasn’t given you the answers to all of your questions, and you’re still looking for more specific facts about Youtube Wealthsimple, check out the Wealthsimple site to find answers to all your questions.