What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian web based Financial, stocks plus crypto trading platform that sets itself apart from its competitors by charging absolutely no fees.
A Toronto, Ontario based fintech company launched in the Fall of twenty fourteen exclusively as a robo-advisor automated trading app called Wealthsimple Invest, it has changed substantially over the past eight years to also include Wealthsimple Trade, a zero fees discount brokerage app.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade allows Canadian consumers trade individual stocks and ETFs without paying commissions. The exception is when you’re trading securities which are denominated in USD currency. In that case, they will charge a nominal currency conversion fee when buying and selling. But, behind us are the days of paying more than $7 per trade with discount brokerages as was common only a couple years past.
Exactly How Much in Funds do I Need to Have in Order to Start Investing With Wealthsimple Trade?
Wealthsimple is special in that they allow Canadian investors to make a minimum deposit of just $1. Many traditional banks and brokerages have quite large min deposit amounts of 1k-5k. This makes it tough for the common investor to start. With Wealthsimple Trade, you don’t need to be wealthy to begin trading stocks and ETFs.
Does Wealthsimple Trade Have RRSP Accounts?
Yes. Wealthsimple Trade has both CRA registered and non-CRA-registered account types. One may select both RRSP and TFSA accounts during the setup process.
Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade has a easy to use mobile app offered on Apple and also Android. The mobile app makes the registration steps and trading of stocks and ETFs incredibly painless.
Is Wealthsimple Trade Secure?
For sure. Wealthsimple Trade is trustworthy. Wealthsimple has more than 15 billion CAD of Assets Under Management . They have been operating for more than 7 years and employs about 600 Canadians. The main shareholder is the admired publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade is the very first no-fee online brokerage to operate in Canada.
How Do I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it incredibly easy to fund a new account. Just connect a chequing or savings account to your Trade account, and then fund your account in only a few clicks. Deposits from your bank to Wealthsimple typically take just a few days. Funds can also be moved to a chequing or savings accounts with the same method.
Which Additional Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – An alternative to e-transfers which allow you to quickly and efficiently transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you need to get ready for tax year and submit your taxes online for free. It’s advertised to be simple, accurate and always totally free tax return filing.
Wealthsimple Spend – A hybrid pre paid debit card and savings account that lets you to get 1% cashback on all your everyday spending, as well as earn a very competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance platform which offers a bunch of courses on different topics such as saving, investing, crypto, real estate and much more.
Each of the listed products, including Wealthsimple Trade can be found on the app and from the website with your Wealthsimple login.
How do I Start With Wealthsimple Trade?
Click here to signup for your Wealthsimple Trade account. For a special signup bonus to our readers you will receive the equivalent cash value of a random Canadian stock worth $25 up to $4,500 Canadian as soon as you deposit to your account.
So What if I Still Have Additional Questions About Wealthsimple Etransfer?
If this blog post hasn’t given you the answers to each of your questions, and you’re still browsing for more specific answers relating to Wealthsimple Review Reddit 2020, go to the Wealthsimple website to find answers to each your questions.