What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian online investing, stock and crypto trading platform that distinguishes itself from the competition by charging no fees.
A fintech company launched in the Autumn of twenty fourteen originally as a robo advisor automated trading platform named Wealthsimple Invest, it has improved significantly over the last 8 years to include Wealthsimple Trade, a zero fees discount brokerage app.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade lets investors trade stand alone stocks and ETFs without paying commissions. The exception is when you’re trading securities that are displayed in US Dollars. In which case, they will charge a small currency conversion fee 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 case just a couple years past.
Exactly How Much in Funds Will I Need in Order to Start Investing With Wealthsimple Trade?
Wealthsimple is awesome in that they allow Canadians to make a minimum deposit of just $1. The majority of traditional banks and brokerages have large initial deposit amounts of $1,000-$5000. This makes it hard for the normal new investor to get started. With Wealthsimple Trade, one doesn’t need to already be wealthy to start trading stocks and ETFs.
So Does Wealthsimple Trade Have Registered Accounts?
They do. Wealthsimple Trade offers registered and non-CRA-registered accounts. One may select between both RRSP and TFSA accounts in the setup process.
Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade offers a well designed mobile app that is available to download on iOS and also Google Play. The mobile app makes the enrollment phase and trading of stocks and ETFs truly easy.
So Is Wealthsimple Trade Trustworthy?
Yes. Wealthsimple Trade is safe. Wealthsimple reports in excess of 15 billion CAD of Assets Under Management . They have been doing business for more than 7 years and also at this time employs more than 600 folks. The controlling owner is the public Canadian company Power Corp of Canada. Weapthsimple Trade is the very first no-fee online brokerage to operate in Canada.
But How Can I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it incredibly straight forward to fund an account. Just connect the app to a chequing or savings account with your Trade account, and then add funds to your account in just a few clicks. Deposits from banks to Wealthsimple typically take a few days. Funds can just as easily be withdrawn your chequing or savings accounts by using the exact same method.
Which Additional Benefits and Products Are Available?
Wealthsimple Cash – An equivalent to Interac e-transfers which allow anyone to quickly and easily transfer money 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 free. It’s described as simple, accurate and always free tax return filing.
Wealthsimple Spend – A hybrid pre paid debit card and savings account that allows one to earn 1% cashback on your everyday spending, and also get a competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform which includes a ton of different courses on saving, investments, crypto, real estate and more.
Each of the above products, including Wealthsimple Trade can be found within the app or from their website with a single login.
So How Should I Begin With Wealthsimple Trade?
Click here to register for a Wealthsimple Trade account. For a special registration bonus for our audience you will receive the cash value of a stock valued at up to $4,500 Canadian once you deposit to your account.
But What if I Still Have Additional Questions Concerning Wealthsimple 5 Cash Back?
If this article still hasn’t answered all of your questions, and you’re still searching for additional information relating to Wealthsimple Trade Usd Fees, check out the Wealthsimple site to find answers to each your questions.