What is Wealthsimple?
Wealthsimple is a simple to use Canadian web based Financial, securities plus crypto trading app that differentiates itself from other apps by charging no fees.
A online financial services business launched in Autumn twenty fourteen exclusively as a robo advisor algorithmic trading platform named Wealthsimple Invest, it has changed considerably over the previous 8 years to also include Wealthsimple Trade, a zero fees discount brokerage platform.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade allows Canadian consumers to trade stand alone stocks and also ETFs without having to pay commissions. The exception to this is when you’re trading stocks that are displayed in USD currency. In which case, they will charge a currency conversion fee when buying and selling. However, past us are the days of having to pay more than $7 per trade with online discount brokerages as was common only a few years ago.
Exactly How Much Money Will I Need in Order to Start Investing on Wealthsimple Trade?
Wealthsimple is special in that they will allow investors to make a minimum deposit of only $1. Many traditional banks and brokerages have large min deposit amounts of 1k-$5,000. This makes it tough for the everyday investor to start investing. With Wealthsimple Trade, one doesn’t have to be wealthy to get started with trading stocks and ETFs.
Does Wealthsimple Trade Offer TFSA Accounts?
Yes. Wealthsimple Trade offers both CRA registered and non-CRA-registered account types. You can select both RRSP and TFSA accounts during the setup process.
But Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade offers a easy to use mobile app available on Apple and Google Play. The app makes the signup steps and also trading of stocks and ETFs very painless.
But Is Wealthsimple Trade Trustworthy?
Definitely. Wealthsimple Trade is trustworthy. Wealthsimple has more than 15 billion CAD of Assets Under Management (AUM). These folks have been in business for more than 7 years and also currently employs about 600 people. The main shareholder is the respected publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade was the very first no-fees online brokerage to operate in Canada.
But How Do I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it very easy to add funds to a new account. Just connect the app to a chequing or savings account to your Trade account, then add funds to your account in just a couple of clicks. Deposits from banks to Wealthsimple normally take a few days. Funds can the same way can be moved back to your chequing or savings account with the exact same steps.
Which Additional Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – An equivalent to Interac e-Transfers which allows one to quickly and simply transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for this tax season and file your taxes online free. It’s advertised to be simple, accurate and always free income tax filing.
Wealthsimple Spend – A combination prepaid debit card and savings product which allows one to get 1% cashback on your purchases, as well as earn a very competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform which offers a ton of different courses on different topics such as saving, investments, crypto, mortgages and much more.
Each of the above products, including Wealthsimple Trade can be accessed within the app or from the website with your Wealthsimple login.
How Should I Begin With Wealthsimple Trade?
Click here to create your Wealthsimple Trade account. As an exclusive registration bonus offer to our readers you will receive the equivalent cash value of a random Canadian stock valued at $25 up to $4,500 CAD as soon as you deposit to your account.
But What if I Still Have Questions Related to Tax Return Wealthsimple?
If this article still hasn’t answered all of your questions, and you’re browsing for more specific facts about Wealthsimple Trade How To Withdraw, visit the Wealthsimple website to get answers to each your questions.