What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian online investing, securities plus crypto trading platform that distinguishes itself from the competition by charging no fees.
A online financial services company launched in Fall of 2014 exclusively as a robo advisor algorithmic trading app called Wealthsimple Invest, it has evolved significantly over the previous 8 years to also include Wealthsimple Trade, a no fee discount brokerage app.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade lets Canadian consumers trade both single stocks and also ETFs without needing to pay commissions. The exception is when you’re trading ETFs and stocks that are listed in US Dollars. In which case, they charge a currency conversion fee both when buying and selling. But, behind us are the days of having to pay $7-12 for each trade with digital discount brokerages as was the norm just a few years ago.
Exactly How Much in Funds Will I Need to Have in Order to Start With Wealthsimple Trade?
Wealthsimple is special in that they allow Canadian investors to make a minimum deposit of just $1. Many traditional banks and brokerages have quite large initial deposit amounts of 1k-5K. This makes it impossible for the everyday new investor to start investing. With Wealthsimple Trade, you don’t need to already be wealthy to begin trading stocks and ETFs.
So Does Wealthsimple Trade Have Registered Accounts?
Yes. Wealthsimple Trade has both registered and non-CRA-registered account types. You can select between both RRSP and TFSA account types in the setup phase.
Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade has a easy to use mobile app offered on Apple and Android. The mobile app makes the enrollment phase and also trading of stocks and ETFs super a breeze.
But Is Wealthsimple Trade Trustworthy?
Yes. Wealthsimple Trade is legit. Wealthsimple has in excess of 15 billion CAD of Assets Under Management . This company has been in business for more than 7 years and also currently employs over 600 Canadians. The majority shareholder is the admired public Canadian company Power Corp of Canada. Weapthsimple Trade is the very first no-fee online brokerage operating in Canada.
How Do I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it very easy to add money to your account. Simply connect to a chequing or savings account to your Trade account, then add funds to your account in simply a couple of steps. Deposits from financial institutions to Wealthsimple typically take only a couple of days. Funds can just as easily be moved to a chequing or savings accounts using the exact same steps.
What Additional Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An equivalent to e-transfers that allow you to quickly and easily transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to get ready for this tax season and file your tax return online free. It’s pitched as easy, accurate and always free tax filing.
Wealthsimple Spend – A combination pre paid visa and savings account that allows you to get 1% cashback on your everyday purchases, as well as earn a very competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance platform which offers a variety of courses on saving, investments, crypto, real estate and much more.
Every one of the mentioned features, along with Wealthsimple Trade may be found within the app or at the website with a single login.
But How do I Begin Using Wealthsimple Trade?
Click here to register for your Wealthsimple Trade account. For an exclusive registration bonus to our readers you’ll get the cash value of a share valued at $25 up to $4,500 CAD when you add funds to your account.
So What if I Still Have Questions About Wealthsimple Kingston?
If this blog post didn’t given you the answers to all of your questions, and you’re still browsing for additional specific information relating to Wealthsimple Trade Best Stocks, visit the Wealthsimple website to get answers to every one of your questions.