What is Wealthsimple?
Wealthsimple is an easy to use Canadian online Financial, stocks plus crypto trading platform that differentiates itself from similar apps by charging absolutely no fees.
A Toronto, Ontario based fintech company launched in the Fall of twenty fourteen originally as a robo-advisor algorithmic automated trading platform named Wealthsimple Invest, it has grown substantially over the previous 8 years to also feature Wealthsimple Trade, a zero fee discount brokerage platform.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade allows consumers trade stand alone stocks and also ETFs without needing to pay commissions. The exception to this is when trading stocks that are denominated in USD. In this case, they do charge a small currency conversion fee both when buying and selling. But, past us are the days of having to pay more than $7 per each trade with digital discount brokerages as was the case only a few years past.
Exactly How Much in Funds do I Need to Have to Get Started With Wealthsimple Trade?
Wealthsimple is unique in that they will allow investors to make a minimum deposit of just $1. Most traditional banks and discount brokerages have large min deposit amounts of $1000-$5,000. This makes it impossible for the everyday new investor to start investing. With Wealthsimple Trade, you don’t need to be wealthy to get started with trading stocks and ETFs.
So Does Wealthsimple Trade Have Registered Accounts?
Of course. Wealthsimple Trade offers both CRA registered and non-registered accounts. One are free to select both RRSP and TFSA accounts in the setup wizard.
So Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade has a modern mobile app that is available on IOS and Google Play. The smartphone app makes the signup process and also trading of stocks and ETFs simple.
So Is Wealthsimple Trade Secure?
. Wealthsimple Trade is safe. Wealthsimple has more than 15 billion Canadian of Assets Under Management (AUM). they’ve been expanding for more than 7 years and now employs over 600 folks. The controlling owner is the public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the first no-fees digital brokerage operating in Canada.
How Do I Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it incredibly straight forward to add money to an account. Just connect a chequing or savings account to your Trade account, then fund your account in only a couple of clicks. Deposits from your bank to Wealthsimple normally take just a few days. Funds can the same way can be withdrawn a chequing or savings accounts by using the same process.
Which Other Benefits and Products Are Available?
Wealthsimple Cash – This is equivalent to E-Transfers which allows anyone to quickly and efficiently transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you need to prepare for this tax season and file your taxes online free. It’s advertised as simple, accurate and always free income tax filing.
Wealthsimple Spend – A hybrid prepaid visa and savings account that lets one to recieve 1% cashback on all your purchases, as well as earn a competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance platform that offers a ton of different online courses on saving, investments, crypto, mortgages and much more.
Each of the listed products, including Wealthsimple Trade can be found on the app or at their website with one login.
So How Can I Get Started With Wealthsimple Trade?
Click here to signup for a new Wealthsimple Trade account. For a special registration bonus offer to our audience you will get the cash value of a Canadian stock valued at $25 up to $4,500 Canadian when you deposit to your account.
So What if I Still Have Additional Questions Concerning Wealthsimple Trade App?
If this blog post hasn’t answered each of your questions, and you’re browsing for further specific information relating to Wealthsimple Trade Gold, check out the Wealthsimple website for answers to every one of your questions.