What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian web based investing, securities plus crypto trading app that distinguishes itself from other apps by charging absolutely no fees.
A leading Canadian fintech company launched in the Fall of twenty fourteen originally as a robo-advisor trading platform named Wealthsimple Invest, it has evolved considerably over the previous 8 years to feature Wealthsimple Trade, a no fee discount brokerage service.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade allows consumers trade both single stocks and also ETFs without needing to pay any commissions. The exception to this is when trading securities that are displayed in USD. In which case, they charge a small currency conversion fee both when buying and selling. But, behind us are the times of paying $7-12 per each trade with discount brokerages as was the case a few years past.
Exactly How Much Cash Will I Need to Begin Investing With Wealthsimple Trade?
Wealthsimple is unique in that they allow Canadian investors to make a minimum deposit of only $1. Many alternative banks and discount brokerages have large min deposit amounts of $1000-$5,000. This makes it hard for the everyday new investor to get started. With Wealthsimple Trade, one doesn’t need to be wealthy to get started with trading stocks and ETFs.
So Does Wealthsimple Trade Offer RRSP Accounts?
Yes. Wealthsimple Trade has available both CRA registered and non-registered accounts. You may select both RRSP and TFSA accounts during the setup phase.
But Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade has a well designed mobile app that is available to download on both IOS and also Google Play. The smartphone app makes the signup phase and also trading of stocks and ETFs super simple.
Is Wealthsimple Trade Trustworthy?
For sure. Wealthsimple Trade is trustworthy. Wealthsimple reports over 15 billion CAD of Assets Under Management (AUM). This company has been expanding for more than 7 years and right now employs about 600 Canadians. The main owner is the admired public Canadian entity Power Corp of Canada. Weapthsimple Trade was the very first no-fee online discount brokerage operating in Canada.
So How Do I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it easy to deposit to your new account. Just connect to a chequing or savings account with your Trade account, then add funds to your account in simply a few clicks. Deposits from financial institutions to Wealthsimple usually take only a couple of days. Funds can also be moved to your chequing or savings accounts by using the exact same steps.
What Other Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – An equivalent to Interac E-Transfers that allows one to quickly and efficiently send money to friends and family in Canada.
Wealthsimple Tax – Everything you require to get ready for this tax season and submit your taxes online for free. It’s described to be easy, accurate and always totally free income tax filing.
Wealthsimple Spend – A combination prepaid visa and savings account which lets you to earn 1% cashback on all your everyday purchases, as well as get a competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance platform that includes a variety of courses on different topics such as saving, investments, crypto, mortgages and more.
All of the mentioned features, including Wealthsimple Trade may be accessed inside the app and from the website with one login.
How Should I Get Started With Wealthsimple Trade?
Click here to signup for a new Wealthsimple Trade account. For an exclusive signup bonus offer for our readers you’ll receive the cash value of a share valued at $25 up to $4,500 Canadian when you add funds to your account.
So What if I Still Have Questions About 55$ Wealthsimple?
If this article hasn’t given you the answers to each of your questions, and you’re still searching for more specific facts about Wealthsimple Trade Us Dollar Account, check out the Wealthsimple website for answers to each your questions.