What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian online Financial, stocks plus crypto trading app that distinguishes itself from similar apps by charging no fees.
A leading Canadian online financial services business founded in the Autumn 2014 originally as a robo-advisor trading app named Wealthsimple Invest, it has grown significantly over the past 8 years to feature Wealthsimple Trade, a zero fee discount brokerage service.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade allows consumers to trade single stocks and ETFs without paying any fees. The exception is when trading stocks and ETFs that are denominated in USD. In that case, they will charge a currency conversion fee when buying and selling. However, behind us are the times of paying more than $7 for each trade with discount brokerages as was the norm just a few years ago.
How Much in Funds Will I Need to Have in Order to Start Investing on Wealthsimple Trade?
Wealthsimple is unique in that they allow investors to make a minimum deposit of just $1. Most alternative banks and brokerages have sizeable initial deposit amounts of $1000-$5000. This makes it hard for the everyday new investor to start investing. With Wealthsimple Trade, you don’t have to already be wealthy to begin trading stocks and ETFs.
So Does Wealthsimple Trade Offer TFSA Accounts?
Of course. Wealthsimple Trade has CRA registered and non-registered account types. One are able to select both RRSP and TFSA account types in the setup phase.
But Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade has a convenient mobile app that is available on both Apple and Android. The mobile app makes the enrollment phase and trading of stocks and ETFs truly easy.
Is Wealthsimple Trade Secure?
Of course. Wealthsimple Trade is trustworthy. Wealthsimple reports more than 15 billion Canadian of Assets Under Management (AUM). This company has been expanding for more than 7 years and currently employs over 600 Canadians. The primary shareholder is the large publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the very first no-fee online brokerage operating in Canada.
But How Does One Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it simple to fund your new account. Simply connect a chequing or savings account to your Trade account, then fund your account in just a couple of steps. Deposits from banks to Wealthsimple usually take a couple of days. Funds can just as easily be withdrawn a chequing or savings accounts using the same method.
What Other Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is equivalent to e-transfers that allows you to quickly and efficiently transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to prepare for tax season and submit your taxes online for free. It’s pitched as easy, accurate and always totally free tax filing.
Wealthsimple Spend – A combination prepaid visa and savings product that lets you to recieve 1% cashback on your spending, as well as earn a very competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform that offers a bunch of courses on topics like saving, investments, crypto, real estate and much more.
Every one of the above products, including Wealthsimple Trade may be found inside the app or from their website with one login.
How Should I Begin Using Wealthsimple Trade?
Click here to register for a new Wealthsimple Trade account. For an exclusive signup bonus offer to our readers you’ll receive the cash value of a stock valued at up to $4,500 Canadian as soon as you add funds to your account.
So What if I Still Have Additional Questions Concerning Wealthsimple Faq?
If this review didn’t given you the answers to all of your questions, and you’re still browsing for further specific facts relating to Wealthsimple Review Trade, check out the Wealthsimple website to get answers to each your questions.