What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian digital Financial, stock and crypto trading web app that sets itself apart from other apps by charging absolutely no fees.
A leading Canadian online financial services business launched in Autumn of 2014 exclusively as a robo-advisor algorithmic automated trading platform called Wealthsimple Invest, it has changed substantially over the last 8 years to include Wealthsimple Trade, a zero fee discount brokerage service.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade allows Canadian investors trade single stocks and ETFs without needing to pay commissions. The exception is when trading securities which are listed in USD. In this case, they will charge a small currency conversion fee both when buying and selling. But, past us are the times of paying $7-12 per each trade with discount brokerages as was the case only a few years past.
Exactly How Much Money Will I Need to Have in Order to Get Started With Wealthsimple Trade?
Wealthsimple is awesome in that they allow new customers to make a minimum deposit of only $1. Most alternative banks and discount brokerages have large minimum deposit amounts of $1000-$5000. This makes it difficult for the every day new investor to start investing. With Wealthsimple Trade, one doesn’t need to be wealthy to begin trading stocks and ETFs.
So Does Wealthsimple Trade Have Registered Accounts?
Of course. Wealthsimple Trade has available both CRA registered and non-CRA-registered accounts. You are able to select between both RRSP and TFSA account types during the setup phase.
But Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade offers a easy to use mobile app that is available to download on IOS and Google Play. The smartphone app makes the enrollment steps and also trading of stocks and ETFs super a breeze.
Is Wealthsimple Trade Trustworthy?
Most definitely. Wealthsimple Trade is trustworthy. Wealthsimple boasts over 15 billion Canadian in Assets Under Management . they’ve been expanding for more than 7 years and also at this time employs more than 600 folks. The main shareholder is the publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade is the very first no-fee online brokerage operating in Canada.
How Does One Fund a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it so simple to add money to your new account. Simply connect a chequing or savings account with your Trade account, and then add money to your account in simply a couple of steps. Deposits from banks to Wealthsimple normally take a few days. Funds can just as easily be moved to a chequing or savings accounts through the exact same process.
What Other Features and Products Are Available?
Wealthsimple Cash – This is equivalent to Interac E-Transfers that allow one to quickly and easily send money to friends and family in Canada.
Wealthsimple Tax – Everything you need to get ready for this tax season and submit your tax return online for free. It’s advertised to be simple, accurate and always free tax filing.
Wealthsimple Spend – A combination pre paid visa and savings account which lets one to earn 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 which offers a bunch of different courses on topics like saving, investments, crypto, real estate and more.
All of the listed products, along with Wealthsimple Trade may be accessed in the mobile app and from their site with one login.
So How Can I Get Started Using Wealthsimple Trade?
Click here to setup a Wealthsimple Trade account. As an exclusive registration bonus offer to our readers you will get the cash value of a random stock valued at up to $4,500 Canadian when you make an initial deposit to your account.
What if I Still Have Additional Questions Related to Wealthsimple Ownership?
If this blog post didn’t given you the answers to each of your questions, and you’re still searching for further specific answers about Wealthsimple Trade 1.5 Fee, visit the Wealthsimple site to get answers to each your questions.