What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian digital investing, securities and crypto trading web app that distinguishes itself from similar apps by charging no fees.
A Toronto, Ontario based online financial services company launched in Fall of twenty fourteen originally as a robo-advisor algorithmic trading platform called Wealthsimple Invest, it has improved significantly over the previous 8 years to also feature Wealthsimple Trade, a no fees discount brokerage app.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade lets investors to trade both individual stocks and ETFs without paying fees. The exception is when trading ETFs and stocks which are listed in USD currency. In that case, they charge a small currency conversion fee both when buying and selling. But, past us are the times of having to pay more than $7 per each trade with online discount brokerages as was expected a couple years ago.
Exactly How Much Cash do I Need to Have to Start Investing With Wealthsimple Trade?
Wealthsimple is unique such that they will allow Canadians to make a minimum deposit of just $1. Most alternative banks and discount brokerages have large min deposit amounts of 1k-$5000. This makes it hard for the normal new investor to get started. With Wealthsimple Trade, one doesn’t need to be wealthy to begin trading stocks and ETFs.
So Does Wealthsimple Trade Have TFSA Accounts?
Of course. Wealthsimple Trade has available registered and non-CRA-registered accounts. You are free to choose between both RRSP and TFSA accounts in the setup phase.
Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade has a convenient mobile app available on both iOS and Android. The app makes the enrollment steps and the trading of stocks and ETFs truly simple.
So Is Wealthsimple Trade Trustworthy?
For sure. Wealthsimple Trade is safe. Wealthsimple reports over 15 billion CAD in Assets Under Management (AUM). This company has been expanding for more than 7 years and also now employs about 600 people. The primary shareholder is the admired public Canadian entity Power Corp of Canada. Weapthsimple Trade is the first no-fee online discount brokerage to operate in Canada.
How Do I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it so simple to fund an account. Just connect the app to a chequing or savings account to your Trade account, then fund your account in only a couple of clicks. Deposits from banks to Wealthsimple typically take just a couple of days. Funds can just as easily be moved back to a chequing or savings accounts by the same method.
Which Other Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is equivalent to Interac e-transfers which allow anyone to quickly and efficiently send cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to get ready for tax year and file your taxes online for free. It’s pitched as simple, accurate and always totally free tax return filing.
Wealthsimple Spend – A combination prepaid debit card and savings product that allows one to get 1% cashback on your everyday purchases, and also get a competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance platform which includes a variety of online courses on saving, investing, crypto, real estate and more.
All of the mentioned products, along with Wealthsimple Trade may be found within the mobile app or from the site with one login.
So How do I Begin Using Wealthsimple Trade?
Click here to create a Wealthsimple Trade account. As an exclusive signup bonus offer to our readers you’ll get the equivalent cash value of a Canadian stock worth up to $4,500 CAD as soon as you add funds to your account.
So What if I Still Have Additional Questions Concerning Yield Wealthsimple?
If this blog post hasn’t given you the answers to each of your questions, and you’re still looking for further specific info relating to Wealthsimple Trade Or Invest Reddit, visit the Wealthsimple site to find answers to all your questions.