What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian digital investing, stocks and crypto trading app that differentiates itself from its competitors by charging no fees.
A fintech business launched in Autumn twenty fourteen originally as a robo advisor automated trading platform named Wealthsimple Invest, it has changed considerably over the past eight years to also include Wealthsimple Trade, a zero fee discount brokerage platform.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade allows Canadian investors trade single stocks and ETFs without needing to pay commissions. The exception to this is when trading stocks that are denominated in USD currency. In which case, they do charge a currency conversion fee both when buying and selling. But, gone are the times of paying Upwards of $7 for each trade with discount brokerages as was normal a few years ago.
Exactly How Much Money Will I Need to Have to Get Started With Wealthsimple Trade?
Wealthsimple is special such that they will allow Canadians to make a minimum deposit of only $1. Many alternative banks and brokerages have quite large min deposit amounts of $1,000-$5,000. This makes it tough for the everyday investor to start. With Wealthsimple Trade, one doesn’t have to already be wealthy to start trading stocks and ETFs.
Does Wealthsimple Trade Have Registered Accounts?
Of course. Wealthsimple Trade offers both registered and non-CRA-registered accounts. You are free to select between both RRSP and TFSA account types during the setup phase.
But Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade has a convenient mobile app available to download on both IOS and Android. The app makes the registration process and the trading of stocks and ETFs very easy.
But Is Wealthsimple Trade Legit?
Of course. Wealthsimple Trade is safe. Wealthsimple boasts more than 15 billion CAD of Assets Under Management . They have been in business for more than 7 years and also at this time employs more than 600 Canadians. The controlling shareholder is the admired publicly traded Canadian entity Power Corp of Canada. Weapthsimple Trade is the very first no-fee online brokerage to operate in Canada.
So How Do I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it easy to deposit to an account. Just connect the app to a chequing or savings account to your Trade account, and then add money to your account in only a few clicks. Deposits from financial institutions to Wealthsimple normally take a few days. Funds can also be moved back to your chequing or savings accounts by using the exact same steps.
Which Additional Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An equivalent to E-Transfers that allow anyone to quickly and efficiently send 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 for free. It’s described as simple, accurate and always free income tax filing.
Wealthsimple Spend – A combination pre paid debit card and savings account which lets one to earn 1% cashback on your spending, as well as earn a competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform which offers a bunch of courses on different topics such as saving, investments, crypto, real estate and more.
Each of the above products, along with Wealthsimple Trade may be found within the mobile app or from their website with one login.
But How Should I Begin With Wealthsimple Trade?
Click here to register for a Wealthsimple Trade account. As a special signup bonus offer for our audience you’ll receive the equivalent cash value of a random share worth $25 up to $4,500 Canadian as soon as you add funds to your account.
So What if I Still Have Additional Questions Related to Wealthsimple Retirement Calculator?
If this article hasn’t answered each of your questions, and you’re still searching for further specific information about Wealthsimple Trade Etf Fees, visit the Wealthsimple site for answers to every one of your questions.