What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian digital Financial, stocks and crypto trading platform that distinguishes itself from similar apps by charging absolutely no fees.
A leading Canadian fintech business launched in Autumn of twenty fourteen exclusively as a robo-advisor algorithmic trading platform named Wealthsimple Invest, it has changed considerably over the past eight years to feature Wealthsimple Trade, a zero fees discount brokerage service.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade allows consumers trade stand alone stocks and ETFs without having to pay any commissions. The exception to this is when you’re trading stocks that are listed in US Dollars. In this case, they charge a small currency conversion fee both when buying and selling. However, behind us are the days of having to pay more than $7 per each trade with online discount brokerages as was expected a couple years past.
Exactly How Much Money do I Need in Order to Start on Wealthsimple Trade?
Wealthsimple is awesome in that they allow Canadians to make a minimum deposit of only $1. The majority of alternative banks and brokerages have quite large minimum deposit amounts of 1K-5k. This makes it impossible for the typical new investor to start. With Wealthsimple Trade, you won’t need to already be wealthy to start trading stocks and ETFs.
Does Wealthsimple Trade Offer RRSP Accounts?
Yes. Wealthsimple Trade offers registered and non-registered account types. You are able to select both RRSP and TFSA account types during the setup process.
Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade offers a easy to use mobile app offered on IOS and also Google Play. The smartphone app makes the signup phase and also the trading of stocks and ETFs incredibly simple.
Is Wealthsimple Trade Legit?
For sure. Wealthsimple Trade is trustworthy. Wealthsimple has over 15 billion CAD in Assets Under Management (AUM). they’ve been operating for more than 7 years and also at this time employs roughly 600 Canadians. The main shareholder is the large publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the first no-fee digital discount brokerage operating in Canada.
But How Does One Fund a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it incredibly simple to add funds to a new account. Just connect a chequing or savings account to your Trade account, and then add money to your account in just a few clicks. Deposits from financial institutions to Wealthsimple typically take only a couple of days. Funds can the same way can be moved to a chequing or savings accounts using the exact same process.
Which Additional Benefits and Products Are Available?
Wealthsimple Cash – This is alternative to E-Transfers that allows one to quickly and efficiently send money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to get ready for tax season and submit your taxes online free. It’s described to be simple, accurate and always totally free income tax filing.
Wealthsimple Spend – A hybrid pre paid debit card and savings account that allows you to earn 1% cashback on all your spending, and also earn a competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform which offers a ton of different online courses on topics like saving, investments, crypto, home buying and much more.
Each of the above features, including Wealthsimple Trade can be accessed on the mobile app and at their website with your Wealthsimple login.
So How Should I Begin Using Wealthsimple Trade?
Click here to register for your Wealthsimple Trade account. For an exclusive signup bonus offer to our readers you’ll get the equivalent cash value of a random Canadian stock valued at up to $4,500 CAD as soon as you add funds to your account.
What if I Still Have Questions About Veqt Wealthsimple?
If this review hasn’t given you the answers to all of your questions, and you’re browsing for more specific information about Wealthsimple Trade List Of Stocks, check out the Wealthsimple site to get answers to every one of your questions.