What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian online Financial, stock and crypto trading web app that distinguishes itself from its competitors by charging absolutely no fees.
A Toronto, Ontario based fintech business launched in the Autumn 2014 originally as a robo-advisor algorithmic trading app named Wealthsimple Invest, it has grown substantially over the past eight years to also feature Wealthsimple Trade, a no fee discount brokerage service.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade lets Canadian consumers to trade single stocks and ETFs without having to pay any commissions. The exception is when you’re trading ETFs and stocks which are denominated in US Dollars. In this case, they do charge a small currency conversion fee both when buying and selling. However, behind us are the days of having to pay more than $7 per each trade with digital discount brokerages as was normal only a few years past.
Exactly How Much Money Will I Need in Order to Begin Investing on Wealthsimple Trade?
Wealthsimple is special such that they allow investors to make a minimum deposit of just $1. The majority of traditional banks and discount brokerages have quite large initial deposit amounts of $1000-5k. This makes it hard for the everyday new investor to start. With Wealthsimple Trade, you don’t have to already be wealthy to get started with trading stocks and ETFs.
But Does Wealthsimple Trade Offer Registered Accounts?
Of course. Wealthsimple Trade has registered and non-CRA-registered accounts. One may choose between both RRSP and TFSA accounts in the setup phase.
So Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade offers a well designed mobile app offered on iOS and also Android. The app makes the enrollment phase and also the trading of stocks and ETFs truly painless.
So Is Wealthsimple Trade Trustworthy?
. Wealthsimple Trade is safe. Wealthsimple boasts more than 15 billion Canadian of Assets Under Management (AUM). This company has been in business for more than 7 years and also at this time employs about 600 Canadians. The primary owner is the public Canadian company Power Corp of Canada. Weapthsimple Trade was the first no-fee online discount brokerage to operate in Canada.
But How Do I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it quite simple to fund an account. Simply connect to a chequing or savings account to your Trade account, and then fund your account in just a couple of steps. Deposits from banks to Wealthsimple normally take only a couple of days. Funds can the same way can be moved back to a chequing or savings account by using the exact same method.
What Additional Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – An equivalent to e-transfers which allow anyone to quickly and simply send money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to get ready for tax year and submit your taxes online free. It’s pitched to be simple, accurate and always totally free income tax filing.
Wealthsimple Spend – A combination prepaid visa and savings product that allows one to earn 1% cashback on your purchases, and also get a very competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform that includes a bunch of different courses on topics like saving, investing, crypto, mortgages and more.
All of the mentioned features, along with Wealthsimple Trade can be accessed on the mobile app or on their website with a single login.
So How Can I Begin With Wealthsimple Trade?
Click here to create your Wealthsimple Trade account. As a special registration bonus to our readers you will receive the equivalent cash value of a stock worth up to $4,500 Canadian when you make an initial deposit to your account.
But What if I Still Have Questions Related to Wealthsimple Gme Dividend?
If this review didn’t answered all of your questions, and you’re browsing for more specific answers relating to Wealthsimple Review Youtube, go to the Wealthsimple site to find answers to each your questions.