What is Wealthsimple?
Wealthsimple is an easy to use Canadian online investing, stock plus crypto trading app that sets itself apart from the competition by charging no fees.
A leading Canadian fintech business founded in Autumn twenty fourteen originally as a robo-advisor trading app named Wealthsimple Invest, it has evolved substantially over the previous 8 years to feature Wealthsimple Trade, a no fees discount brokerage platform.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade lets consumers to trade stand alone stocks and also ETFs without paying any fees. The exception to this is when you’re trading securities which are displayed in US Dollars. In which case, they do charge a nominal currency conversion fee both when buying and selling. However, behind us are the times of having to pay Upwards of $7 for each trade with online discount brokerages as was the norm only a few years past.
How Much Cash do I Need to Have in Order to Get Started on Wealthsimple Trade?
Wealthsimple is special in that they allow new customers to make a minimum deposit of only $1. Many traditional banks and brokerages have sizeable initial deposit amounts of 1k-5k. This makes it difficult for the everyday new investor to start. With Wealthsimple Trade, you don’t have to already be wealthy to get started with trading stocks and ETFs.
Does Wealthsimple Trade Have RRSP Accounts?
Of course. Wealthsimple Trade has available both registered and non-registered account types. One are free to choose both RRSP and TFSA accounts during the setup wizard.
Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade has a modern mobile app that is offered on iOS and Google Play. The smartphone app makes the registration phase and the trading of stocks and ETFs incredibly a breeze.
Is Wealthsimple Trade Trustworthy?
For sure. Wealthsimple Trade is trustworthy. Wealthsimple reports in excess of 15 billion Canadian in Assets Under Management (AUM). This company has been doing business for more than 7 years and also at this time employs roughly 600 people. The majority shareholder is the publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade is the first no-fee digital brokerage to operate in Canada.
How Does One Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it easy to deposit to an account. Simply connect a chequing or savings account with your Trade account, then add funds to your account in simply a couple of steps. Deposits from financial institutions to Wealthsimple typically take only a few days. Funds can just as easily be moved to a chequing or savings accounts using the same steps.
What Additional Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is alternative to Interac e-transfers which allow you to quickly and easily send money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for this tax season and file your taxes online for free. It’s advertised as simple, accurate and always free income tax filing.
Wealthsimple Spend – A hybrid pre paid debit card and savings product that allows you to earn 1% cashback on all your everyday purchases, and also get a competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform which offers a variety of online courses on topics like saving, investing, crypto, real estate and more.
All of the above products, along with Wealthsimple Trade may be accessed within the mobile app or from the website with a single login.
But How do I Begin Using Wealthsimple Trade?
Click here to setup a new Wealthsimple Trade account. As a special registration bonus offer for our audience you will receive the equivalent cash value of a random share valued at up to $4,500 Canadian when you make an initial deposit to your account.
But What if I Still Have Questions About Wealthsimple 75 Bonus?
If this review hasn’t given you the answers to each of your questions, and you’re still looking for further info relating to Wealthsimple Trade Vs Invest Reddit, visit the Wealthsimple site to find answers to every one of your questions.