What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian web based Financial, stocks plus crypto trading web app that distinguishes itself from its competitors by charging no fees.
A fintech business founded in the Fall twenty fourteen exclusively as a robo advisor algorithmic automated trading platform named Wealthsimple Invest, it has evolved substantially over the past eight years to include Wealthsimple Trade, a no fee discount brokerage service.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade lets investors trade both individual stocks and ETFs without needing to pay any commissions. The exception is when trading stocks and ETFs that are displayed in US Dollars. In this case, they will charge a small currency conversion fee when buying and selling. But, behind us are the times of having to pay more than $7 per trade with discount brokerages as was the norm only a few years past.
Exactly How Much in Funds do I Need to Have in Order to Get Started on Wealthsimple Trade?
Wealthsimple is awesome in that they allow Canadian investors 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 difficult for the typical new investor to start. With Wealthsimple Trade, one doesn’t need to be wealthy to begin trading stocks and ETFs.
Does Wealthsimple Trade Offer TFSA Accounts?
Of course. Wealthsimple Trade has both registered and non-CRA-registered accounts. You are able to choose both RRSP and TFSA accounts in the setup wizard.
So Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade has a well designed mobile app that is available to download on both Apple and also Google Play. The smartphone app makes the enrollment process and also trading of stocks and ETFs incredibly painless.
Is Wealthsimple Trade Secure?
For sure. Wealthsimple Trade is trustworthy. Wealthsimple reports over 15 billion Canadian in Assets Under Management . These folks have been in business for more than 7 years and also at this time employs over 600 Canadians. The majority shareholder is the respected public Canadian company Power Corp of Canada. Weapthsimple Trade was the first no-fees digital discount brokerage operating in Canada.
But How Do I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it incredibly simple to add funds to your new account. Simply connect a chequing or savings account with your Trade account, and then fund your account in only a few steps. Deposits from your bank to Wealthsimple normally take a couple of days. Funds can the same way can be moved back to a chequing or savings accounts with the exact same process.
Which Other Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An equivalent to E-transfers which allow anyone to quickly and efficiently send cash to friends and family in Canada.
Wealthsimple Tax – Everything you need to get ready for this tax season and submit your taxes online for free. It’s described as easy, accurate and always totally free income tax filing.
Wealthsimple Spend – A combination prepaid visa and savings product which allows you to get 1% cashback on your spending, and also earn a very competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform that offers a bunch of different online courses on saving, investments, crypto, mortgages and much more.
Every one of the mentioned features, along with Wealthsimple Trade can be accessed within the app or at the website with your Wealthsimple login.
How Should I Start With Wealthsimple Trade?
Click here to setup your Wealthsimple Trade account. For a special registration bonus for our readers you’ll receive the equivalent cash value of a random share valued at $25 up to $4,500 Canadian once you make an initial deposit to your account.
But What if I Still Have Additional Questions Related to Wealthsimple Ynab?
If this blog post didn’t answered all of your questions, and you’re still searching for further facts relating to Wealthsimple Trade Sin Number, check out the Wealthsimple site to get answers to all your questions.