What is Wealthsimple?
Wealthsimple is an easy to use Canadian web based investing, stocks and crypto trading app that differentiates itself from its competitors by charging no fees.
A online financial services company founded in the Autumn of twenty fourteen originally as a robo advisor automated trading platform named Wealthsimple Invest, it has evolved significantly over the previous 8 years to feature Wealthsimple Trade, a no fees discount brokerage platform.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade lets Canadian consumers to trade stand alone stocks and ETFs without needing to pay commissions. The exception is when you’re trading stocks that are displayed in USD currency. In which case, they will charge a currency conversion fee both when buying and selling. However, gone are the days of having to pay $7-12 per trade with discount brokerages as was the norm a few years past.
Exactly How Much Cash do I Need in Order to Get Started With Wealthsimple Trade?
Wealthsimple is cool such that they allow investors to make a minimum deposit of only $1. The majority of traditional banks and brokerages have sizeable minimum deposit amounts of 1k-5K. This makes it hard for the every day new investor to start investing. With Wealthsimple Trade, you won’t have to be wealthy to get started with trading stocks and ETFs.
So Does Wealthsimple Trade Have Registered Accounts?
Of course. Wealthsimple Trade offers both registered and non-CRA-registered account types. One are free to select between both RRSP and TFSA accounts during the setup phase.
Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade has a modern mobile app offered on Apple and also Android. The mobile app makes the enrollment steps and trading of stocks and ETFs very a breeze.
But Is Wealthsimple Trade Trustworthy?
. Wealthsimple Trade is trustworthy. Wealthsimple has more than 15 billion CAD in Assets Under Management (AUM). These folks have been operating for more than 7 years and right now employs about 600 Canadians. The controlling shareholder is the admired publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade was the very first no-fee online discount brokerage operating in Canada.
But How Do I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it so easy to add funds to an account. Simply connect to a chequing or savings account to your Trade account, and fund your account in simply a few clicks. Deposits from banks to Wealthsimple usually take just a couple of days. Funds can the same way can be withdrawn your chequing or savings account with the same steps.
Which Additional Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is alternative to Interac e-transfers which allow one to quickly and simply send cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to prepare for tax season and file your tax return online for free. It’s pitched to be simple, accurate and always totally free tax filing.
Wealthsimple Spend – A hybrid pre paid visa and savings account which lets one to earn 1% cashback on your spending, and also get a very competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform that offers a variety of online courses on different topics such as saving, investing, crypto, real estate and more.
Every one of the above products, including Wealthsimple Trade can be accessed within the mobile app or from their site with your Wealthsimple login.
So How Should I Start With Wealthsimple Trade?
Click here to create your Wealthsimple Trade account. As an exclusive registration bonus to our audience you will get the equivalent cash value of a random stock valued at up to $4,500 CAD once you deposit to your account.
But What if I Still Have Questions Related to Unavailable On Trade Wealthsimple?
If this blog post still hasn’t given you the answers to all of your questions, and you’re looking for further specific answers relating to Wealthsimple Trade Invite Friends, check out the Wealthsimple site to get answers to every one of your questions.