What is Wealthsimple?
Wealthsimple is a simple to use Canadian online Financial, securities plus crypto trading web app that differentiates itself from its competitors by charging no fees.
A Toronto, Ontario based online financial services company founded in Fall of twenty fourteen exclusively as a robo-advisor algorithmic trading app named Wealthsimple Invest, it has changed significantly over the past 8 years to also include Wealthsimple Trade, a zero fee discount brokerage app.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade allows Canadian consumers trade individual stocks and also ETFs without needing to pay any fees. The exception to this is when you’re trading securities that are denominated in USD currency. In that case, they charge a small currency conversion fee when buying and selling. But, behind us are the days of paying $7-12 for each trade with discount brokerages as was the case a few years ago.
Exactly How Much Money do I Need to Begin Investing With Wealthsimple Trade?
Wealthsimple is special in that they allow investors to make a minimum deposit of only $1. Many traditional banks and brokerages have large minimum deposit amounts of $1000-5k. This makes it impossible for the typical investor to start investing. With Wealthsimple Trade, you don’t have to be wealthy to get started with trading stocks and ETFs.
Does Wealthsimple Trade Offer Registered Accounts?
They do. Wealthsimple Trade has available both registered and non-registered accounts. One are able to select both RRSP and TFSA account types in the setup wizard.
But Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade has a well designed mobile app that is available on both IOS and Android. The app makes the registration steps and also trading of stocks and ETFs truly a breeze.
So Is Wealthsimple Trade Legit?
Yes. Wealthsimple Trade is trustworthy. Wealthsimple boasts in excess of 15 billion CAD of Assets Under Management (AUM). These folks have been operating for more than 7 years and right now employs over 600 folks. The main owner is the public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the first no-fees online discount brokerage operating in Canada.
But How Can I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it quite easy to add funds to an account. Simply connect the app to a chequing or savings account with your Trade account, and add funds to your account in only a couple of steps. Deposits from banks to Wealthsimple normally take just a few days. Funds can the same way can be moved back to a chequing or savings accounts with the exact same steps.
Which Other Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An alternative to E-transfers which allows you to quickly and simply transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you require to get ready for tax year and submit your tax return online free. It’s pitched to be easy, accurate and always free income tax filing.
Wealthsimple Spend – A combination pre paid visa and savings product that lets you to earn 1% cashback on all your everyday purchases, 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 online courses on different topics such as saving, investing, crypto, mortgages and much more.
Every one of the mentioned features, along with Wealthsimple Trade may be found on the mobile app and from their website with your Wealthsimple login.
But How Can I Get Started With Wealthsimple Trade?
Click here to register for your Wealthsimple Trade account. As a special registration bonus offer to our audience you will receive the equivalent cash value of a Canadian stock worth up to $4,500 CAD when you add funds to your account.
But What if I Still Have Additional Questions About Wealthsimple Support?
If this article hasn’t answered all of your questions, and you’re searching for further answers about Wealthsimple Trade For Beginners, visit the Wealthsimple site for answers to every one of your questions.