What is Wealthsimple?
Wealthsimple is an easy to use Canadian online Financial, securities and crypto trading platform that sets itself apart from other apps by charging absolutely no fees.
A online financial services company founded in the Autumn twenty fourteen exclusively as a robo-advisor automated trading platform called Wealthsimple Invest, it has changed considerably over the past 8 years to also include Wealthsimple Trade, a no fees discount brokerage platform.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade lets Canadian consumers trade individual stocks and also ETFs without needing to pay fees. The exception is when trading securities which are denominated in USD currency. In that case, they charge a nominal currency conversion fee when buying and selling. However, past us are the days of having to pay more than $7 per each trade with digital discount brokerages as was normal only a few years past.
How Much Cash Will I Need to Have in Order to Get Started on Wealthsimple Trade?
Wealthsimple is cool in that they will allow Canadians to make a minimum deposit of just $1. The majority of alternative banks and brokerages have sizeable min deposit amounts of 1k-5k. This makes it hard for the every day new investor to start investing. With Wealthsimple Trade, you don’t have to already be wealthy to get started with trading stocks and ETFs.
Does Wealthsimple Trade Have Registered Accounts?
Of course. Wealthsimple Trade offers registered and non-CRA-registered account types. You may select both RRSP and TFSA account types in the setup process.
But Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade has a well designed mobile app that is available on iOS and also Google Play. The mobile app makes the enrollment phase and the trading of stocks and ETFs truly painless.
So Is Wealthsimple Trade Secure?
Yes. Wealthsimple Trade is trustworthy. Wealthsimple has over 15 billion Canadian of Assets Under Management . These folks have been operating for more than 7 years and also now employs over 600 people. The majority shareholder is the respected public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the first no-fee digital discount brokerage to operate in Canada.
But How Does One Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it straight forward to add funds to your new account. Just connect a chequing or savings account with your Trade account, then fund your account in simply a few steps. Deposits from financial institutions to Wealthsimple usually take only a few days. Funds can also be withdrawn a chequing or savings accounts through the same method.
Which Additional Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – An alternative to e-transfers that allow one to quickly and easily transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for tax season and file your tax return online for free. It’s described as simple, accurate and always totally free tax return filing.
Wealthsimple Spend – A hybrid prepaid visa and savings account which lets one to get 1% cashback on all your spending, and also earn a competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform which includes a variety of courses on topics like saving, investing, crypto, mortgages and much more.
All of the listed products, along with Wealthsimple Trade may be found in the mobile app or from the website with one login.
So How do I Begin Using Wealthsimple Trade?
Click here to setup a new Wealthsimple Trade account. As a special signup bonus to our audience you will receive the cash value of a random share worth $25 up to $4,500 Canadian once you fund your account.
So What if I Still Have Questions About Wealthsimple Resp?
If this review still hasn’t answered each of your questions, and you’re browsing for further specific information relating to Wealthsimple Trade Exchange Rate, go to the Wealthsimple website to find answers to each your questions.