What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian web based Financial, stock and crypto trading web app that sets itself apart from its competitors by charging no fees.
A Toronto, Ontario based online financial services company launched in the Fall twenty fourteen originally as a robo-advisor automated trading platform called Wealthsimple Invest, it has improved significantly over the past eight years to also feature Wealthsimple Trade, a no fee discount brokerage service.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade lets Canadian investors trade individual stocks and ETFs without paying commissions. The exception is when you’re trading stocks that are listed in USD. In that case, they will charge a nominal currency conversion fee both when buying and selling. But, gone are the times of paying $7-12 per trade with digital discount brokerages as was expected just a couple years past.
How Much in Funds do I Need in Order to Start Investing With Wealthsimple Trade?
Wealthsimple is unique in that they will allow new customers to make a minimum deposit of only $1. Most traditional banks and brokerages have quite large initial deposit amounts of $1,000-5K. This makes it impossible for the everyday investor to start investing. With Wealthsimple Trade, you won’t have to be wealthy to get started with trading stocks and ETFs.
So Does Wealthsimple Trade Offer Registered Accounts?
They do. Wealthsimple Trade has available registered and non-registered accounts. You can choose between both RRSP and TFSA account types in the setup phase.
So Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade has a well designed mobile app offered on IOS and Google Play. The mobile app makes the registration phase and also the trading of stocks and ETFs incredibly a breeze.
Is Wealthsimple Trade Trustworthy?
Most definitely. Wealthsimple Trade is legit. Wealthsimple boasts in excess of 15 billion Canadian of Assets Under Management (AUM). They have been expanding for more than 7 years and also at this time employs about 600 people. The controlling shareholder is the large publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the first no-fees online brokerage to operate in Canada.
How Does One Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it incredibly straight forward to deposit to your new account. Just connect to a chequing or savings account to your Trade account, and fund your account in just a few steps. Deposits from banks to Wealthsimple usually take just a couple of days. Funds can just as easily be moved back to a chequing or savings accounts through the exact same steps.
Which Other Benefits and Products Are Available?
Wealthsimple Cash – This is alternative to Interac E-Transfers which allows one to quickly and simply transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you require to get ready for tax season and submit your taxes online for free. It’s described as easy, accurate and always totally free income tax filing.
Wealthsimple Spend – A combination prepaid debit card and savings product which allows you to recieve 1% cashback on all your spending, as well as get a competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform which offers a ton of different courses on topics like saving, investing, crypto, real estate and more.
Every one of the above products, including Wealthsimple Trade may be found on the mobile app and at their site with your Wealthsimple login.
How do I Start Using Wealthsimple Trade?
Click here to register for a Wealthsimple Trade account. For a special registration bonus offer for our audience you will get the equivalent cash value of a stock worth $25 up to $4,500 Canadian as soon as you add funds to your account.
So What if I Still Have Questions Concerning Wealthsimple Address?
If this article didn’t answered all of your questions, and you’re searching for further information relating to Wealthsimple Review Globe And Mail, check out the Wealthsimple site to get answers to every one of your questions.