What is Wealthsimple?
Wealthsimple is an easy to use Canadian web based investing, securities plus crypto trading web app that distinguishes itself from its competitors by charging no fees.
A leading Canadian online financial services company founded in the Fall twenty fourteen originally as a robo advisor algorithmic automated trading app named Wealthsimple Invest, it has improved significantly over the past eight years to feature Wealthsimple Trade, a zero fee discount brokerage app.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade lets investors to trade single stocks and also ETFs without paying any commissions. The exception is when you’re trading stocks which are denominated in USD currency. In this case, they do charge a nominal currency conversion fee both when buying and selling. But, past us are the days of paying more than $7 per trade with digital discount brokerages as was normal just a couple years ago.
Exactly How Much in Funds Will I Need to Have to Start With Wealthsimple Trade?
Wealthsimple is unique in that they will allow Canadians to make a minimum deposit of only $1. The majority of alternative banks and brokerages have large min deposit amounts of 1k-$5000. This makes it tough for the common new investor to start investing. With Wealthsimple Trade, you don’t need to be wealthy to start trading stocks and ETFs.
But Does Wealthsimple Trade Offer TFSA Accounts?
Yes. Wealthsimple Trade offers registered and non-registered accounts. One can select both RRSP and TFSA accounts in the setup process.
So Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade has a well designed mobile app that is offered to download on iOS and Google Play. The smartphone app makes the registration steps and trading of stocks and ETFs very simple.
But Is Wealthsimple Trade Secure?
Yes. Wealthsimple Trade is secure. Wealthsimple has over 15 billion Canadian in Assets Under Management (AUM). This company has been operating for more than 7 years and also currently employs over 600 Canadians. The main shareholder is the large public Canadian entity Power Corp of Canada. Weapthsimple Trade is the first no-fee online discount brokerage operating in Canada.
But How Do I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it so simple to deposit to a new account. Just connect to a chequing or savings account with your Trade account, and add money to your account in only a couple of clicks. Deposits from financial institutions to Wealthsimple typically take a few days. Funds can just as easily be moved back to your chequing or savings account by the exact same method.
What Other Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is equivalent to Interac E-transfers that allows one to quickly and easily send cash to friends and family in Canada.
Wealthsimple Tax – Everything you need to get ready for this tax season and file your tax return online free. It’s advertised as easy, accurate and always totally free tax filing.
Wealthsimple Spend – A combination pre paid debit card and savings product that allows one to recieve 1% cashback on your spending, as well as earn a competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform that includes a ton of online courses on different topics such as saving, investing, crypto, real estate and more.
Every one of the above features, along with Wealthsimple Trade may be accessed within the app and from the site with your Wealthsimple login.
So How Should I Start Using Wealthsimple Trade?
Click here to setup a new Wealthsimple Trade account. For an exclusive registration bonus offer for our audience you’ll get the equivalent cash value of a random Canadian stock valued at $25 up to $4,500 Canadian when you add funds to your account.
But What if I Still Have Additional Questions About Wealthsimple Or Questrade?
If this article still hasn’t answered each of your questions, and you’re browsing for additional specific answers about Wealthsimple Trade 15 Minute Delay Reddit, check out the Wealthsimple site for answers to all your questions.