What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian web based investing, stock and crypto trading platform that sets itself apart from other apps by charging no fees.
A Toronto, Ontario based online financial services company launched in Fall twenty fourteen originally as a robo-advisor automated trading platform called Wealthsimple Invest, it has grown significantly over the previous eight years to also include Wealthsimple Trade, a zero fees discount brokerage app.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade allows investors to trade both individual stocks and also ETFs without paying any commissions. The exception is when you’re trading ETFs and stocks which are displayed in US Dollars. In this case, they charge a nominal currency conversion fee when buying and selling. But, behind us are the times of having to pay Upwards of $7 per trade with discount brokerages as was common just a couple years past.
Exactly How Much Money Will I Need to Have to Begin Investing on Wealthsimple Trade?
Wealthsimple is awesome in that they will allow Canadian investors to make a minimum deposit of only $1. The majority of traditional banks and brokerages have quite large initial deposit amounts of $1000-$5000. This makes it impossible for the common investor to get started. With Wealthsimple Trade, one doesn’t have to already be wealthy to begin trading stocks and ETFs.
But Does Wealthsimple Trade Have RRSP Accounts?
Yes. Wealthsimple Trade offers both registered and non-registered account types. You are free to choose both RRSP and TFSA accounts in the setup phase.
Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade has a well designed mobile app available on iOS and Android. The mobile app makes the enrollment process and the trading of stocks and ETFs truly painless.
But Is Wealthsimple Trade Trustworthy?
. Wealthsimple Trade is legit. Wealthsimple boasts in excess of 15 billion CAD in Assets Under Management (AUM). they’ve been in business for more than 7 years and also employs over 600 folks. The controlling shareholder is the publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the first no-fee online discount brokerage operating in Canada.
How Do I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it very easy to add money to your account. Just connect the app to a chequing or savings account to your Trade account, and add funds to your account in just a few clicks. Deposits from banks to Wealthsimple usually take a couple of days. Funds can also be withdrawn your chequing or savings account using the exact same steps.
Which Additional Features and Products Are Available?
Wealthsimple Cash – This is equivalent to e-Transfers which allows anyone to quickly and easily send money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to get ready for this tax year and submit your taxes online for free. It’s pitched to be easy, accurate and always free tax return filing.
Wealthsimple Spend – A hybrid prepaid debit card and savings account that lets one to earn 1% cashback on your spending, and also earn a competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform that offers a bunch of different courses on saving, investments, crypto, mortgages and much more.
All of the mentioned products, along with Wealthsimple Trade can be accessed on the mobile app or on the site with a single login.
So How Can I Begin Using Wealthsimple Trade?
Click here to register for a Wealthsimple Trade account. For a special signup bonus offer for our audience you will get the equivalent cash value of a random share valued at up to $4,500 Canadian as soon as you add funds to your account.
What if I Still Have Questions About Can You Short On Wealthsimple?
If this blog post didn’t given you the answers to each of your questions, and you’re browsing for additional information relating to Wealthsimple Trade Or Questrade Reddit, visit the Wealthsimple website to get answers to every one of your questions.