What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian digital Financial, stocks plus crypto trading app that distinguishes itself from its competitors by charging absolutely no fees.
A leading Canadian fintech company founded in the Autumn of 2014 exclusively as a robo advisor trading app called Wealthsimple Invest, it has grown significantly over the past 8 years to include Wealthsimple Trade, a no fees discount brokerage platform.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade allows consumers trade both single stocks and ETFs without having to pay commissions. The exception is when trading stocks that are displayed in USD currency. In that case, they will charge a small currency conversion fee both when buying and selling. However, past us are the days of paying Upwards of $7 for each trade with digital discount brokerages as was expected only a few years past.
Exactly How Much in Funds do I Need in Order to Get Started With Wealthsimple Trade?
Wealthsimple is cool such that they allow Canadians to make a minimum deposit of only $1. The majority of traditional banks and brokerages have sizeable min deposit amounts of $1,000-5k. This makes it impossible for the common new investor to start. With Wealthsimple Trade, one doesn’t need to be wealthy to start trading stocks and ETFs.
But Does Wealthsimple Trade Have Registered Accounts?
They do. Wealthsimple Trade has available CRA registered and non-registered accounts. One are free to select both RRSP and TFSA accounts during the setup wizard.
So Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade offers a well designed mobile app offered on iOS and also Google Play. The app makes the signup phase and also trading of stocks and ETFs truly simple.
So Is Wealthsimple Trade Trustworthy?
For sure. Wealthsimple Trade is safe. Wealthsimple boasts more than 15 billion Canadian of Assets Under Management (AUM). they’ve been in business for more than 7 years and also now employs about 600 people. The main shareholder is the large publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade was the first no-fees digital brokerage to operate in Canada.
But How Can I Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it very easy to deposit to a new account. Simply connect the app to a chequing or savings account with your Trade account, and then fund your account in just a few clicks. Deposits from financial institutions to Wealthsimple usually take only a couple of days. Funds can the same way can be moved to a chequing or savings account using the same steps.
What Additional Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is equivalent to Interac E-transfers that allows anyone to quickly and efficiently send cash to friends and family in Canada.
Wealthsimple Tax – Everything you require to prepare for tax year and submit your taxes online for free. It’s described to be simple, accurate and always free tax return filing.
Wealthsimple Spend – A hybrid pre paid visa and savings account that allows one to earn 1% cashback on all your everyday purchases, as well as earn a very competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform that offers a bunch of different courses on different topics such as saving, investing, crypto, home buying and much more.
Each of the above features, along with Wealthsimple Trade may be found on the app or from their site with a single login.
How Can I Start Using Wealthsimple Trade?
Click here to setup a Wealthsimple Trade account. For a special signup bonus offer to our readers you will receive the cash value of a random share valued at up to $4,500 Canadian once you add funds to your account.
But What if I Still Have Questions About Zenabis Stock Wealthsimple?
If this review hasn’t answered all of your questions, and you’re browsing for additional info relating to Zenabis Stock Wealthsimple, go to the Wealthsimple site to get answers to all your questions.