What is Wealthsimple?
Wealthsimple is a simple to use Canadian web based investing, stocks plus crypto trading app that sets itself apart from the competition by charging no fees.
A fintech business founded in Autumn of 2014 originally as a robo advisor algorithmic trading app named Wealthsimple Invest, it has grown significantly over the previous eight years to also feature Wealthsimple Trade, a no fee discount brokerage platform.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade lets consumers to trade both single stocks and ETFs without having to pay any fees. The exception to this is when trading stocks and ETFs that are denominated in USD currency. In that case, they charge a currency conversion fee when buying and selling. However, behind us are the days of paying more than $7 per trade with discount brokerages as was expected a few years ago.
Exactly How Much in Funds do I Need to Have in Order to Begin Investing With Wealthsimple Trade?
Wealthsimple is unique such that they allow new customers to make a minimum deposit of only $1. The majority of alternative banks and discount brokerages have quite large minimum deposit amounts of 1K-5k. This makes it tough for the normal new investor to get started. With Wealthsimple Trade, you don’t have to already be wealthy to start trading stocks and ETFs.
Does Wealthsimple Trade Offer TFSA Accounts?
Yes. Wealthsimple Trade has registered and non-CRA-registered account types. You are able to choose between both RRSP and TFSA accounts in the setup wizard.
But Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade offers a convenient mobile app that is offered on both iOS and also Google Play. The app makes the registration phase and trading of stocks and ETFs a breeze.
But Is Wealthsimple Trade Legit?
Definitely. Wealthsimple Trade is legit. Wealthsimple reports more than 15 billion CAD of Assets Under Management . they’ve been operating for more than 7 years and also now employs more than 600 folks. The controlling owner is the respected publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade is the first no-fees digital discount brokerage operating in Canada.
How Can I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it straight forward to add funds to your new account. Just connect the app to a chequing or savings account with your Trade account, and then add funds to your account in just a few clicks. Deposits from financial institutions to Wealthsimple typically take a couple of days. Funds can the same way can be withdrawn your chequing or savings accounts by the exact same method.
What Additional Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – An alternative to Interac E-transfers that allows one to quickly and efficiently transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to prepare for this tax year and submit your taxes online for free. It’s pitched as simple, accurate and always free tax return filing.
Wealthsimple Spend – A hybrid pre paid visa and savings account which allows one to get 1% cashback on your purchases, and also get a competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance platform which includes a ton of courses on saving, investing, crypto, mortgages and much more.
All of the listed features, including Wealthsimple Trade may be accessed on the mobile app and from the site with your Wealthsimple login.
But How do I Begin Using Wealthsimple Trade?
Click here to setup a Wealthsimple Trade account. For an exclusive registration bonus to our readers you’ll get the equivalent cash value of a Canadian stock valued at $25 up to $4,500 CAD as soon as you add funds to your account.
But What if I Still Have Additional Questions Concerning Ontario Tax Calculator Wealthsimple?
If this article still hasn’t given you the answers to each of your questions, and you’re still browsing for further specific information relating to Wealthsimple Trade For Desktop, visit the Wealthsimple website to get answers to all your questions.