What is Wealthsimple?
Wealthsimple is an easy to use Canadian digital Financial, stocks and crypto trading app that differentiates itself from its competitors by charging no fees.
A leading Canadian online financial services company founded in Fall of twenty fourteen originally as a robo-advisor algorithmic automated trading app named Wealthsimple Invest, it has changed significantly over the last 8 years to also include Wealthsimple Trade, a no fee discount brokerage service.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade lets consumers to trade single stocks and also ETFs without needing to pay fees. The exception to this is when you’re trading ETFs and stocks which are displayed in USD currency. In this case, they charge a nominal currency conversion fee when buying and selling. However, gone are the days of having to pay Upwards of $7 per each trade with discount brokerages as was common just a couple years ago.
Exactly How Much in Funds do I Need to Have in Order to Start Investing With Wealthsimple Trade?
Wealthsimple is awesome in that they will allow investors to make a minimum deposit of just $1. Most alternative banks and discount brokerages have quite large min deposit amounts of 1K-5k. This makes it impossible for the typical investor to start. With Wealthsimple Trade, one doesn’t need to be wealthy to begin trading stocks and ETFs.
So Does Wealthsimple Trade Offer TFSA Accounts?
Yes. Wealthsimple Trade offers both CRA registered and non-registered accounts. One are able to select between both RRSP and TFSA account types during the setup phase.
So Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade offers a easy to use mobile app available on both Apple and also Android. The app makes the registration steps and the trading of stocks and ETFs truly simple.
But Is Wealthsimple Trade Trustworthy?
Yes. Wealthsimple Trade is legit. Wealthsimple has over 15 billion CAD of Assets Under Management . they’ve been expanding for more than 7 years and at this time employs about 600 folks. The controlling shareholder is the admired publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the first no-fee digital brokerage operating in Canada.
How Can I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it quite simple to deposit to your new account. Just connect to a chequing or savings account with your Trade account, and then add money to your account in only a couple of steps. Deposits from your bank to Wealthsimple usually take only a couple of days. Funds can the same way can be moved to a chequing or savings account by the same process.
Which Other Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An equivalent to E-Transfers which allow 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 submit your tax return online for free. It’s described as easy, accurate and always free income tax filing.
Wealthsimple Spend – A hybrid pre paid debit card and savings product which lets you to earn 1% cashback on all your spending, as well as get a competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform that offers a bunch of courses on different topics such as saving, investments, crypto, real estate and more.
Each of the above features, including Wealthsimple Trade may be found in the app and from their site with your Wealthsimple login.
How do I Begin With Wealthsimple Trade?
Click here to register for your Wealthsimple Trade account. As an exclusive signup bonus offer for our audience you will receive the equivalent cash value of a random stock worth up to $4,500 Canadian once you deposit to your account.
What if I Still Have Additional Questions Concerning Wealthsimple Keeps Crashing?
If this blog post still hasn’t given you the answers to each of your questions, and you’re browsing for additional facts about Wealthsimple Trade Business Account, go to the Wealthsimple site to get answers to each your questions.