What is Wealthsimple?
Wealthsimple is an easy to use Canadian web based Financial, securities plus crypto trading web app that distinguishes itself from its competitors by charging absolutely no fees.
A fintech company launched in Autumn of twenty fourteen originally as a robo advisor algorithmic automated trading app called Wealthsimple Invest, it has changed significantly over the previous eight years to also include Wealthsimple Trade, a zero fee discount brokerage platform.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade allows Canadian consumers to trade single stocks and also ETFs without paying commissions. The exception to this is when trading stocks which are displayed in USD currency. In which case, they charge a small currency conversion fee when buying and selling. But, past us are the times of having to pay Upwards of $7 for each trade with digital discount brokerages as was normal a few years past.
Exactly How Much Money Will I Need to Have to Start Investing With Wealthsimple Trade?
Wealthsimple is unique in that they allow Canadians to make a minimum deposit of just $1. The majority of traditional banks and discount brokerages have large minimum deposit amounts of 1K-5K. This makes it hard for the every day new investor to start. With Wealthsimple Trade, you don’t need to already be wealthy to start trading stocks and ETFs.
So Does Wealthsimple Trade Have Registered Accounts?
Yes. Wealthsimple Trade has registered and non-registered account types. One are free to choose between both RRSP and TFSA account types during the setup process.
Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade has a easy to use mobile app available to download on iOS and also Android. The app makes the signup steps and the trading of stocks and ETFs incredibly simple.
Is Wealthsimple Trade Trustworthy?
Most definitely. Wealthsimple Trade is safe. Wealthsimple boasts over 15 billion Canadian in Assets Under Management . They have been operating for more than 7 years and also at this time employs about 600 Canadians. The controlling shareholder is the respected public Canadian entity Power Corp of Canada. Weapthsimple Trade was the first no-fee digital discount brokerage operating in Canada.
So How Do I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it quite straight forward to add funds to your account. Simply connect to a chequing or savings account to your Trade account, and then fund your account in only a couple of steps. Deposits from banks to Wealthsimple usually take just a few days. Funds can the same way can be moved back to your chequing or savings accounts through the same process.
Which Additional Features and Products Are Available?
Wealthsimple Cash – This is alternative to Interac e-Transfers which allows one to quickly and easily transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to get ready for this tax year and file your tax return online for free. It’s advertised to be simple, accurate and always totally free tax filing.
Wealthsimple Spend – A combination pre paid debit card and savings account which allows one to earn 1% cashback on all your purchases, and also get a competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform that offers a variety of online courses on saving, investments, crypto, real estate and much more.
All of the above products, along with Wealthsimple Trade may be found inside the mobile app or at the site with one login.
How Should I Get Started With Wealthsimple Trade?
Click here to register for a new Wealthsimple Trade account. As a special signup bonus for our readers you will get the cash value of a random stock worth $25 up to $4,500 Canadian when you fund your account.
But What if I Still Have Additional Questions Related to Wealthsimple Free $50?
If this article didn’t given you the answers to each of your questions, and you’re still searching for more specific information about Wealthsimple Trade Us Stocks, check out the Wealthsimple site for answers to all your questions.