What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian web based Financial, stock plus crypto trading web app that sets itself apart from other apps by charging absolutely no fees.
A leading Canadian online financial services business founded in the Fall of 2014 exclusively as a robo advisor automated trading platform called Wealthsimple Invest, it has changed significantly over the past 8 years to include Wealthsimple Trade, a no fees discount brokerage service.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade lets investors to trade both single stocks and also ETFs without paying commissions. The exception to this is when you’re trading securities which are denominated in US Dollars. In which case, they do charge a small currency conversion fee both when buying and selling. But, behind us are the days of having to pay Upwards of $7 for each trade with discount brokerages as was the norm just a few years ago.
Exactly How Much Money do I Need to Have in Order to Begin Investing With Wealthsimple Trade?
Wealthsimple is awesome in that they allow Canadians to make a minimum deposit of just $1. The majority of traditional banks and brokerages have sizeable initial deposit amounts of 1k-$5000. This makes it impossible for the everyday investor to start investing. With Wealthsimple Trade, you don’t have to already be wealthy to start trading stocks and ETFs.
Does Wealthsimple Trade Offer TFSA Accounts?
They do. Wealthsimple Trade has both CRA registered and non-registered accounts. You may select between both RRSP and TFSA accounts during the setup process.
But Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade has a well designed mobile app available to download on both IOS and Android. The app makes the registration steps and also the trading of stocks and ETFs incredibly a breeze.
But Is Wealthsimple Trade Trustworthy?
For sure. Wealthsimple Trade is safe. Wealthsimple boasts more than 15 billion CAD in Assets Under Management . They have been in business for more than 7 years and also employs roughly 600 Canadians. The primary owner is the respected publicly traded Canadian entity Power Corp of Canada. Weapthsimple Trade is the very first no-fees digital brokerage operating in Canada.
But How Does One Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it very easy to add money to your account. Simply connect the app to a chequing or savings account to your Trade account, and add money to your account in simply a couple of steps. Deposits from financial institutions to Wealthsimple usually take only a couple of days. Funds can the same way can be moved to your chequing or savings account by using the exact same process.
What Additional Features and Products Are Available?
Wealthsimple Cash – An alternative to Interac e-Transfers that allows you to quickly and efficiently send cash to friends and family in Canada.
Wealthsimple Tax – Everything you require to prepare for this tax year and submit your tax return online for free. It’s described as simple, accurate and always free income tax filing.
Wealthsimple Spend – A hybrid pre paid visa and savings product that lets one to earn 1% cashback on your everyday spending, as well as earn a competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform that includes a ton of different online courses on topics like saving, investments, crypto, home buying and more.
All of the mentioned features, along with Wealthsimple Trade may be accessed in the mobile app or at the website with one login.
But How Should I Start Using Wealthsimple Trade?
Click here to register for a Wealthsimple Trade account. As a special signup bonus offer for our audience you will receive the cash value of a random stock valued at $25 up to $4,500 CAD as soon as you make an initial deposit to your account.
But What if I Still Have Additional Questions Related to Wealthsimple Yahoo Finance?
If this review still hasn’t answered each of your questions, and you’re still browsing for further answers relating to Wealthsimple Trade Nasdaq, visit the Wealthsimple site for answers to every one of your questions.