What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian digital Financial, securities and crypto trading platform that differentiates itself from the competition by charging absolutely no fees.
A online financial services company launched in the Autumn of 2014 exclusively as a robo advisor trading platform named Wealthsimple Invest, it has evolved substantially over the last eight years to include Wealthsimple Trade, a no fees discount brokerage app.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade allows Canadian consumers trade individual stocks and ETFs without paying any commissions. The exception is when you’re trading stocks that are listed in USD currency. In which case, they will charge a nominal currency conversion fee both when buying and selling. But, past us are the days of paying Upwards of $7 per trade with discount brokerages as was expected only a few years ago.
How Much Cash do I Need in Order to Start Investing on Wealthsimple Trade?
Wealthsimple is unique in that they allow investors to make a minimum deposit of only $1. Most traditional banks and brokerages have large minimum deposit amounts of $1,000-5K. This makes it difficult for the every day investor to start. With Wealthsimple Trade, one doesn’t need to already be wealthy to get started with trading stocks and ETFs.
But Does Wealthsimple Trade Offer Registered Accounts?
They do. Wealthsimple Trade has both registered and non-CRA-registered accounts. One are able to choose between both RRSP and TFSA accounts in the setup phase.
Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade offers a well designed mobile app that is offered on iOS and Android. The mobile app makes the signup phase and trading of stocks and ETFs very simple.
Is Wealthsimple Trade Legit?
. Wealthsimple Trade is legit. Wealthsimple reports more than 15 billion CAD of Assets Under Management . they’ve been operating for more than 7 years and at this time employs over 600 folks. The main owner is the publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade is the first no-fees online brokerage to operate in Canada.
So How Can I Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it simple to add money to a new account. Simply connect a chequing or savings account with your Trade account, then add funds to your account in only a few steps. Deposits from your bank to Wealthsimple usually take just a few days. Funds can also be withdrawn your chequing or savings account through the exact same method.
What Other Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – An alternative to E-transfers that allows anyone to quickly and simply send cash to friends and family in Canada.
Wealthsimple Tax – Everything you need to get ready for this tax season and file your taxes online for free. It’s advertised to be easy, accurate and always totally free income tax filing.
Wealthsimple Spend – A hybrid pre paid debit card and savings account that lets one to earn 1% cashback on your spending, as well as get a very competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform that offers a bunch of courses on saving, investing, crypto, home buying and much more.
All of the above products, including Wealthsimple Trade may be found within the mobile app or from their website with your Wealthsimple login.
How Should I Begin Using Wealthsimple Trade?
Click here to setup a Wealthsimple Trade account. For a special registration bonus for our audience you’ll receive the cash value of a stock valued at up to $4,500 CAD as soon as you deposit to your account.
What if I Still Have Additional Questions About Zenabis Stock Wealthsimple?
If this blog post hasn’t given you the answers to all of your questions, and you’re searching for additional info about Wealthsimple Trade Plus Reddit, go to the Wealthsimple site for answers to each your questions.