What is Wealthsimple?
Wealthsimple is a simple to use Canadian web based investing, stock plus crypto trading web app that differentiates itself from its competitors by charging absolutely no fees.
A Toronto, Ontario based online financial services company founded in the Fall twenty fourteen exclusively as a robo-advisor algorithmic automated trading platform named Wealthsimple Invest, it has grown substantially over the past eight years to include Wealthsimple Trade, a zero fees discount brokerage app.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade allows investors to trade both single stocks and ETFs without having to pay any fees. The exception to this is when you’re trading stocks and ETFs which are denominated in USD currency. In that case, they will charge a nominal currency conversion fee both when buying and selling. But, behind us are the days of having to pay more than $7 for each trade with online discount brokerages as was the case just a few years past.
Exactly How Much in Funds do I Need to Have in Order to Get Started With Wealthsimple Trade?
Wealthsimple is special such that they allow new customers to make a minimum deposit of just $1. Many traditional banks and brokerages have sizeable initial deposit amounts of 1k-$5,000. This makes it hard for the every day investor to start. With Wealthsimple Trade, you won’t have to already be wealthy to get started with trading stocks and ETFs.
But Does Wealthsimple Trade Offer Registered Accounts?
Of course. Wealthsimple Trade offers both registered and non-CRA-registered accounts. One are free to select between both RRSP and TFSA accounts during the setup phase.
So Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade has a convenient mobile app available on both IOS and Google Play. The smartphone app makes the registration process and also the trading of stocks and ETFs super a breeze.
Is Wealthsimple Trade Legit?
Most definitely. Wealthsimple Trade is legit. Wealthsimple has more than 15 billion CAD in Assets Under Management (AUM). These folks have been doing business for more than 7 years and currently employs roughly 600 Canadians. The majority shareholder is the respected public Canadian entity Power Corp of Canada. Weapthsimple Trade is the first no-fees digital discount brokerage to operate in Canada.
So How Do I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it very simple to fund a new account. Just connect a chequing or savings account to your Trade account, then add money to your account in only a couple of steps. Deposits from banks to Wealthsimple typically take just a few days. Funds can just as easily be withdrawn your chequing or savings account by using the same steps.
What Additional Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is equivalent to e-Transfers which allows one to quickly and simply send cash to friends and family in Canada.
Wealthsimple Tax – Everything you require to prepare for this tax season and submit your tax return online free. It’s described as simple, accurate and always free tax filing.
Wealthsimple Spend – A hybrid prepaid visa and savings account that lets you to recieve 1% cashback on your purchases, as well as earn a competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform which offers a ton of online courses on different topics such as saving, investing, crypto, real estate and much more.
Every one of the above products, including Wealthsimple Trade can be found in the app and at the site with your Wealthsimple login.
How Can I Get Started Using Wealthsimple Trade?
Click here to setup a Wealthsimple Trade account. For an exclusive signup bonus offer for our audience you will receive the cash value of a random stock worth up to $4,500 CAD when you fund your account.
So What if I Still Have Additional Questions Related to Wealthsimple Youtube?
If this review still hasn’t answered each of your questions, and you’re searching for additional specific information relating to Wealthsimple Trade Negative Balance, go to the Wealthsimple website to get answers to every one of your questions.