What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian digital investing, stocks plus crypto trading web app that differentiates itself from similar apps by charging absolutely no fees.
A fintech business launched in Autumn twenty fourteen exclusively as a robo-advisor automated trading platform called Wealthsimple Invest, it has grown significantly over the previous eight years to also feature Wealthsimple Trade, a zero fee discount brokerage platform.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade allows investors trade both stand alone stocks and ETFs without needing to pay any commissions. The exception is when you’re trading securities that are listed in USD. In that case, they will charge a small currency conversion fee when buying and selling. But, behind us are the days of paying more than $7 for each trade with digital discount brokerages as was expected a few years past.
Exactly How Much Cash do I Need to Have to Begin Investing With Wealthsimple Trade?
Wealthsimple is awesome such that they allow investors to make a minimum deposit of just $1. Many alternative banks and discount brokerages have large minimum deposit amounts of $1,000-$5,000. This makes it difficult for the everyday investor to start. With Wealthsimple Trade, you won’t need to already be wealthy to start trading stocks and ETFs.
Does Wealthsimple Trade Have TFSA Accounts?
Of course. Wealthsimple Trade has registered and non-registered accounts. One can choose between both RRSP and TFSA account types in the setup process.
But Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade has a convenient mobile app that is offered to download on both Apple and also Google Play. The mobile app makes the registration phase and the trading of stocks and ETFs very easy.
So Is Wealthsimple Trade Safe?
Of course. Wealthsimple Trade is safe. Wealthsimple reports in excess of 15 billion Canadian of Assets Under Management . they’ve been operating for more than 7 years and also at this time employs roughly 600 Canadians. The majority owner is the large public Canadian entity Power Corp of Canada. Weapthsimple Trade is the first no-fees online brokerage to operate in Canada.
But How Can I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it easy to add funds to your account. Just connect to a chequing or savings account to your Trade account, and then add money to your account in just a few steps. Deposits from your bank to Wealthsimple typically take only a couple of days. Funds can the same way can be moved to your chequing or savings account by using the exact same method.
Which Other Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is equivalent to e-Transfers which allow you to quickly and easily transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to get ready for tax season and file your tax return online free. It’s advertised to be simple, accurate and always free tax return filing.
Wealthsimple Spend – A combination prepaid visa and savings product that lets one to recieve 1% cashback on all your purchases, and also earn a competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform that offers a bunch of online courses on topics like saving, investments, crypto, home buying and more.
Every one of the listed products, along with Wealthsimple Trade can be found inside the mobile app or from the site with your Wealthsimple login.
So How do I Begin With Wealthsimple Trade?
Click here to setup a Wealthsimple Trade account. As a special signup bonus offer to our audience you’ll get the equivalent cash value of a share valued at $25 up to $4,500 Canadian as soon as you fund your account.
What if I Still Have Additional Questions Related to Wealthsimple Joining Bonus?
If this article hasn’t given you the answers to all of your questions, and you’re looking for further specific info relating to Wealthsimple Trade Account Types, check out the Wealthsimple site to get answers to each your questions.