What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian digital investing, securities plus crypto trading platform that differentiates itself from the competition by charging absolutely no fees.
A leading Canadian fintech business founded in the Autumn of twenty fourteen exclusively as a robo-advisor algorithmic trading app named Wealthsimple Invest, it has changed considerably over the past eight years to include Wealthsimple Trade, a zero fee discount brokerage service.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade allows consumers to trade individual stocks and also ETFs without needing to pay any commissions. The exception is when trading securities that are denominated in US Dollars. In that case, they charge a small currency conversion fee both when buying and selling. However, behind us are the times of paying $7-12 per each trade with discount brokerages as was the case a few years past.
Exactly How Much in Funds Will I Need to Have in Order to Begin Investing on Wealthsimple Trade?
Wealthsimple is special in that they will allow investors to make a minimum deposit of just $1. Many alternative banks and brokerages have sizeable minimum deposit amounts of 1k-$5,000. This makes it tough for the common new investor to start. With Wealthsimple Trade, you won’t have to be wealthy to get started with trading stocks and ETFs.
Does Wealthsimple Trade Have TFSA Accounts?
Yes. Wealthsimple Trade has CRA registered and non-registered account types. One are able to choose both RRSP and TFSA account types during the setup phase.
Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade has a well designed mobile app that is available on iOS and also Google Play. The smartphone app makes the registration phase and trading of stocks and ETFs super easy.
So Is Wealthsimple Trade Legit?
Of course. Wealthsimple Trade is secure. Wealthsimple boasts in excess of 15 billion Canadian of Assets Under Management (AUM). they’ve been doing business for more than 7 years and currently employs more than 600 folks. The primary shareholder is the respected public Canadian company Power Corp of Canada. Weapthsimple Trade was the very first no-fee digital discount brokerage operating in Canada.
So How Does One Fund a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it so simple to deposit to an account. Simply connect the app to a chequing or savings account with your Trade account, and add funds to your account in just a few steps. Deposits from financial institutions to Wealthsimple typically take only a couple of days. Funds can the same way can be moved back to your chequing or savings accounts through the same process.
Which Other Features and Products Are Available?
Wealthsimple Cash – An alternative to Interac E-transfers which allow you to quickly and simply send money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to get ready for tax season and submit your tax return online for free. It’s pitched to be easy, accurate and always totally free tax return filing.
Wealthsimple Spend – A combination prepaid visa and savings account which lets you to earn 1% cashback on your purchases, as well as get a competitive 1.5% interest 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, mortgages and much more.
Each of the listed products, including Wealthsimple Trade can be accessed within the app and on the site with your Wealthsimple login.
So How do I Get Started With Wealthsimple Trade?
Click here to setup your Wealthsimple Trade account. As an exclusive registration bonus offer to our audience you will receive the equivalent cash value of a share worth up to $4,500 Canadian as soon as you deposit to your account.
What if I Still Have Additional Questions About Wealthsimple Performance?
If this blog post didn’t answered all of your questions, and you’re still searching for further facts about Who Owns Wealthsimple Trade, go to the Wealthsimple site to get answers to all your questions.