What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian online investing, stock plus crypto trading web app that distinguishes itself from its competitors by charging no fees.
A Toronto, Ontario based fintech business founded in the Fall of 2014 originally as a robo advisor trading platform named Wealthsimple Invest, it has grown substantially over the past eight years to include Wealthsimple Trade, a zero fee discount brokerage service.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade allows Canadian consumers trade both individual stocks and also ETFs without needing to pay commissions. The exception to this is when trading stocks which are denominated in US Dollars. In this case, they do charge a small currency conversion fee when buying and selling. But, gone are the days of paying Upwards of $7 per each trade with digital discount brokerages as was the norm only a couple years past.
Exactly How Much Cash do I Need in Order to Begin Investing With Wealthsimple Trade?
Wealthsimple is awesome such that they will allow new customers to make a minimum deposit of just $1. The majority of alternative banks and discount brokerages have large initial deposit amounts of $1000-$5000. This makes it difficult for the every day new investor to get started. With Wealthsimple Trade, you won’t need to be wealthy to begin trading stocks and ETFs.
So Does Wealthsimple Trade Have Registered Accounts?
They do. Wealthsimple Trade has available registered and non-registered accounts. One are able to choose both RRSP and TFSA account types during the setup wizard.
But Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade has a convenient mobile app offered on iOS and also Android. The app makes the enrollment process and the trading of stocks and ETFs super simple.
But Is Wealthsimple Trade Legit?
. Wealthsimple Trade is legit. Wealthsimple reports more than 15 billion Canadian in Assets Under Management . They have been operating for more than 7 years and right now employs roughly 600 people. The majority owner is the publicly traded Canadian entity Power Corp of Canada. Weapthsimple Trade was the first no-fees online brokerage operating in Canada.
How Can I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it very straight forward to add money to your account. Simply connect to a chequing or savings account to your Trade account, then fund your account in just a couple of steps. Deposits from banks to Wealthsimple typically take a few days. Funds can the same way can be withdrawn a chequing or savings accounts using the exact same steps.
What Other Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is equivalent to Interac E-Transfers that allow one to quickly and easily transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to prepare for tax year and submit your tax return online for free. It’s described to be simple, accurate and always free tax return filing.
Wealthsimple Spend – A combination pre paid debit card and savings account which lets you to recieve 1% cashback on all your spending, and also get a competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform which includes a variety of courses on topics like saving, investments, crypto, real estate and more.
All of the mentioned products, including Wealthsimple Trade may be accessed within the app and on the site with one login.
So How Should I Get Started Using Wealthsimple Trade?
Click here to signup for your Wealthsimple Trade account. For an exclusive registration bonus to our readers you will get the equivalent cash value of a random Canadian stock worth $25 up to $4,500 Canadian once you fund your account.
What if I Still Have Questions Related to 80 Spadina Wealthsimple?
If this article still hasn’t answered each of your questions, and you’re still looking for more info about Wealthsimple Trade What Stocks To Buy, go to the Wealthsimple website to find answers to each your questions.