What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian digital Financial, stock and crypto trading app that distinguishes itself from similar apps by charging absolutely no fees.
A online financial services company launched in the Autumn of twenty fourteen exclusively as a robo-advisor algorithmic automated trading app named Wealthsimple Invest, it has changed significantly over the past eight years to also feature Wealthsimple Trade, a no fees discount brokerage platform.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade lets consumers to trade stand alone stocks and ETFs without needing to pay fees. The exception is when trading stocks and ETFs that are displayed in USD currency. In that case, they do charge a small currency conversion fee when buying and selling. However, behind us are the times of paying Upwards of $7 per trade with discount brokerages as was the case just a few years past.
How Much Cash Will I Need to Have to Get Started on Wealthsimple Trade?
Wealthsimple is awesome such that they allow investors to make a minimum deposit of just $1. Many traditional banks and discount brokerages have sizeable min deposit amounts of $1000-5k. This makes it hard for the every day investor to start investing. With Wealthsimple Trade, you won’t have to already be wealthy to begin trading stocks and ETFs.
Does Wealthsimple Trade Offer Registered Accounts?
Of course. Wealthsimple Trade offers registered and non-registered account types. You are able to choose both RRSP and TFSA account types during the setup process.
But Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade offers a convenient mobile app that is offered on IOS and Google Play. The app makes the registration process and also the trading of stocks and ETFs painless.
But Is Wealthsimple Trade Safe?
For sure. Wealthsimple Trade is trustworthy. Wealthsimple has more than 15 billion Canadian of Assets Under Management (AUM). This company has been operating for more than 7 years and currently employs over 600 people. The primary owner is the public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the first no-fee online brokerage to operate in Canada.
So How Does One Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it incredibly easy to add money to an account. Just connect the app to a chequing or savings account with your Trade account, and then add money to your account in just a few clicks. Deposits from financial institutions to Wealthsimple normally take only a few days. Funds can just as easily be withdrawn a chequing or savings account through the exact same method.
What Other Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – An alternative to e-transfers that allow you to quickly and easily send cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for tax year and submit your taxes online for free. It’s pitched as simple, accurate and always free tax return filing.
Wealthsimple Spend – A combination prepaid visa and savings product which lets one to recieve 1% cashback on your everyday spending, as well as earn a very competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform which includes a variety of online courses on topics like saving, investing, crypto, mortgages and much more.
Each of the listed features, including Wealthsimple Trade can be found inside the mobile app and from their site with your Wealthsimple login.
But How Should I Get Started Using Wealthsimple Trade?
Click here to register for a new Wealthsimple Trade account. As an exclusive registration bonus offer for our audience you’ll get the cash value of a stock valued at up to $4,500 CAD as soon as you deposit to your account.
What if I Still Have Questions About Buying Crypto On Wealthsimple Reddit?
If this blog post hasn’t given you the answers to all of your questions, and you’re searching for further specific info about Wealthsimple Review Desktop App, visit the Wealthsimple website to get answers to every one of your questions.