What is Wealthsimple?
Wealthsimple is a simple to use Canadian digital investing, securities plus crypto trading web app that sets itself apart from similar apps by charging absolutely no fees.
A Toronto, Ontario based online financial services company launched in Autumn of twenty fourteen exclusively as a robo-advisor trading app called Wealthsimple Invest, it has changed considerably over the last eight years to also include Wealthsimple Trade, a no fee discount brokerage service.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade lets Canadian investors to trade stand alone stocks and ETFs without needing to pay any fees. The exception is when trading securities which are denominated in US Dollars. In this case, they do charge a currency conversion fee both when buying and selling. But, gone are the times of having to pay more than $7 per each trade with online discount brokerages as was the case a few years past.
Exactly How Much Cash Will I Need to Have to Begin Investing on Wealthsimple Trade?
Wealthsimple is awesome such that they will allow investors to make a minimum deposit of only $1. The majority of alternative banks and discount brokerages have large initial deposit amounts of $1,000-5K. This makes it tough for the every day new investor to start investing. With Wealthsimple Trade, you won’t need to be wealthy to start trading stocks and ETFs.
So Does Wealthsimple Trade Offer TFSA Accounts?
Yes. Wealthsimple Trade offers registered and non-registered accounts. One are free to choose between both RRSP and TFSA accounts in the setup wizard.
So Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade offers a easy to use mobile app available to download on both iOS and also Google Play. The smartphone app makes the signup phase and also trading of stocks and ETFs truly easy.
But Is Wealthsimple Trade Trustworthy?
Definitely. Wealthsimple Trade is trustworthy. Wealthsimple boasts more than 15 billion Canadian of Assets Under Management (AUM). These folks have been operating for more than 7 years and also now employs more than 600 Canadians. The controlling owner is the respected public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the very first no-fees digital discount brokerage to operate in Canada.
How Can I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it so straight forward to add funds to a new account. Simply connect the app to a chequing or savings account with your Trade account, and fund your account in simply a couple of steps. Deposits from banks to Wealthsimple normally take only a few days. Funds can just as easily be moved to a chequing or savings accounts with the same steps.
Which Additional Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – An equivalent to Interac E-Transfers that allow anyone to quickly and simply send money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to prepare for tax year and file your taxes online free. It’s advertised as simple, accurate and always free tax return filing.
Wealthsimple Spend – A hybrid prepaid debit card and savings product which allows you to recieve 1% cashback on all your everyday purchases, and also get a very competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform which includes a variety of online courses on topics like saving, investments, crypto, mortgages and more.
All of the above products, including Wealthsimple Trade may be found inside the app or on the site with one login.
How Can I Start With Wealthsimple Trade?
Click here to signup for your Wealthsimple Trade account. As an exclusive registration bonus offer to our readers you’ll receive the cash value of a random stock valued at up to $4,500 CAD once you deposit to your account.
So What if I Still Have Questions Related to Wealthsimple Visa Reddit?
If this review didn’t given you the answers to each of your questions, and you’re looking for additional specific facts about Wealthsimple Trade Journal, visit the Wealthsimple website to get answers to all your questions.