What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian online Financial, stock plus crypto trading web app that sets itself apart from similar apps by charging absolutely no fees.
A online financial services company launched in Fall of 2014 exclusively as a robo advisor algorithmic automated trading platform called Wealthsimple Invest, it has improved substantially over the past eight years to feature Wealthsimple Trade, a no fee discount brokerage service.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade lets Canadian investors trade stand alone stocks and also ETFs without needing to pay fees. The exception to this is when trading stocks and ETFs which are listed in USD currency. In that case, they do charge a nominal currency conversion fee both when buying and selling. But, behind us are the days of having to pay more than $7 per each trade with discount brokerages as was expected a few years past.
Exactly How Much Money Will I Need in Order to Begin Investing With Wealthsimple Trade?
Wealthsimple is special such that they allow investors to make a minimum deposit of just $1. Most traditional banks and brokerages have quite large initial deposit amounts of $1,000-5k. This makes it difficult for the common investor to start investing. With Wealthsimple Trade, you won’t need to already be wealthy to get started with trading stocks and ETFs.
So Does Wealthsimple Trade Offer Registered Accounts?
They do. Wealthsimple Trade has CRA registered and non-registered account types. One may select between both RRSP and TFSA accounts in the setup wizard.
But Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade has a convenient mobile app that is offered on IOS and also Google Play. The mobile app makes the enrollment steps and the trading of stocks and ETFs very simple.
Is Wealthsimple Trade Safe?
Yes. Wealthsimple Trade is secure. Wealthsimple has more than 15 billion Canadian of Assets Under Management (AUM). They have been in business for more than 7 years and also now employs over 600 people. The main shareholder is the large public Canadian company Power Corp of Canada. Weapthsimple Trade was the very first no-fees online discount brokerage to operate in Canada.
But How Do I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it so straight forward to deposit to an account. Just connect a chequing or savings account to your Trade account, and then add money to your account in simply a couple of clicks. Deposits from financial institutions to Wealthsimple normally take only a couple of days. Funds can just as easily be withdrawn a chequing or savings account by using the same method.
What Additional Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is alternative to e-Transfers that allow you to quickly and simply transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to get ready for this tax season and submit your tax return online free. It’s pitched to be simple, accurate and always free income tax filing.
Wealthsimple Spend – A hybrid pre paid debit card and savings product which allows one to earn 1% cashback on your purchases, as well as get a very competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform which offers a variety of courses on different topics such as saving, investing, crypto, mortgages and more.
All of the listed features, including Wealthsimple Trade can be found on the mobile app and on their site with a single login.
How Can I Start Using Wealthsimple Trade?
Click here to create a new Wealthsimple Trade account. For an exclusive signup bonus to our audience you will receive the cash value of a random Canadian stock worth $25 up to $4,500 Canadian as soon as you deposit to your account.
What if I Still Have Questions Concerning Wealthsimple W-8ben?
If this review didn’t given you the answers to all of your questions, and you’re searching for further answers relating to Wealthsimple Trade Withdrawal Time, go to the Wealthsimple website for answers to each your questions.