What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian digital investing, securities and crypto trading app that sets itself apart from similar apps by charging no fees.
A online financial services company founded in Autumn twenty fourteen originally as a robo-advisor trading app named Wealthsimple Invest, it has grown substantially over the previous 8 years to include Wealthsimple Trade, a zero fee discount brokerage platform.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade lets consumers to trade individual stocks and also ETFs without having to pay any commissions. The exception to this is when you’re trading ETFs and stocks which are denominated in USD currency. In this case, they do charge a currency conversion fee both when buying and selling. But, past us are the times of paying more than $7 for each trade with online discount brokerages as was the norm just a few years ago.
Exactly How Much in Funds Will I Need to Start Investing With Wealthsimple Trade?
Wealthsimple is awesome such that they will allow new customers to make a minimum deposit of only $1. Most alternative banks and brokerages have sizeable initial deposit amounts of $1000-$5000. This makes it impossible for the typical new investor to start. With Wealthsimple Trade, you won’t need to already be wealthy to get started with trading stocks and ETFs.
Does Wealthsimple Trade Have Registered Accounts?
Of course. Wealthsimple Trade has available CRA registered and non-CRA-registered account types. One are free to select both RRSP and TFSA account types in the setup process.
So Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade offers a well designed mobile app that is available to download on both IOS and Android. The mobile app makes the registration process and also the trading of stocks and ETFs easy.
But Is Wealthsimple Trade Trustworthy?
Definitely. Wealthsimple Trade is trustworthy. Wealthsimple reports more than 15 billion Canadian of Assets Under Management . They have been in business for more than 7 years and now employs about 600 Canadians. The primary shareholder is the public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the very first no-fee digital discount brokerage to operate in Canada.
So How Can I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it easy to add money to a new account. Simply connect to a chequing or savings account to your Trade account, then add money to your account in just a few steps. Deposits from your bank to Wealthsimple normally take only a couple of days. Funds can the same way can be withdrawn your chequing or savings account with the same process.
What Other Benefits and Products Are Available?
Wealthsimple Cash – An equivalent to Interac E-Transfers which allow one to quickly and simply send money to friends and family in Canada.
Wealthsimple Tax – Everything you need to prepare for tax year and file your taxes online for free. It’s described as simple, accurate and always totally free tax filing.
Wealthsimple Spend – A hybrid pre paid visa and savings account that allows one to recieve 1% cashback on all your spending, and also earn a competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform which offers a variety of online courses on topics like saving, investments, crypto, home buying and more.
Every one of the listed products, along with Wealthsimple Trade can be found on the app or from the site with your Wealthsimple login.
How Can I Begin With Wealthsimple Trade?
Click here to register for your Wealthsimple Trade account. As a special signup bonus offer to our readers you’ll receive the equivalent cash value of a random Canadian stock worth up to $4,500 CAD as soon as you deposit to your account.
So What if I Still Have Questions About 50$ Wealthsimple Cash?
If this article didn’t answered each of your questions, and you’re looking for additional information about Wealthsimple Trade Updates, visit the Wealthsimple website to find answers to all your questions.