What is Wealthsimple?
Wealthsimple is an easy to use Canadian web based Financial, stock and crypto trading web app that sets itself apart from the competition by charging absolutely no fees.
A Toronto, Ontario based fintech business launched in Autumn of 2014 exclusively as a robo advisor trading platform named Wealthsimple Invest, it has evolved considerably over the last 8 years to also feature Wealthsimple Trade, a zero fee discount brokerage app.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade lets investors to trade both stand alone stocks and ETFs without needing to pay commissions. The exception to this is when you’re trading stocks which are displayed in USD. In this case, they do charge a currency conversion fee both when buying and selling. However, past us are the days of having to pay more than $7 per trade with online discount brokerages as was expected only a couple years ago.
Exactly How Much Cash do I Need to Have 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 alternative banks and discount brokerages have sizeable minimum deposit amounts of $1,000-5K. This makes it difficult for the normal new investor to start investing. With Wealthsimple Trade, one doesn’t have to already be wealthy to start trading stocks and ETFs.
But Does Wealthsimple Trade Have TFSA Accounts?
Yes. Wealthsimple Trade has both registered and non-CRA-registered account types. One may select both RRSP and TFSA account types during the setup process.
Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade offers a well designed mobile app that is available on both Apple and Android. The app makes the signup steps and the trading of stocks and ETFs truly easy.
So Is Wealthsimple Trade Legit?
Most definitely. Wealthsimple Trade is legit. Wealthsimple boasts in excess of 15 billion Canadian of Assets Under Management . These folks have been expanding for more than 7 years and currently employs about 600 folks. The main owner is the respected publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the very first no-fee online discount brokerage to operate in Canada.
But How Can I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it quite easy to fund your new account. Simply connect to a chequing or savings account to your Trade account, and add money to your account in simply a couple of clicks. Deposits from your bank to Wealthsimple normally take just a few days. Funds can also be moved back to a chequing or savings account using the same process.
Which Additional Features and Products Are Available?
Wealthsimple Cash – This is equivalent to Interac E-transfers that allows one to quickly and simply send cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to prepare for this tax year and file your taxes online free. It’s pitched to be simple, accurate and always free income tax filing.
Wealthsimple Spend – A combination pre paid debit card and savings account that lets one to earn 1% cashback on all your everyday purchases, as well as get a very competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform which offers a variety of online courses on different topics such as saving, investing, crypto, real estate and much more.
All of the mentioned products, along with Wealthsimple Trade may be accessed in the mobile app or on the website with your Wealthsimple login.
How do I Start Using Wealthsimple Trade?
Click here to signup for a new Wealthsimple Trade account. For a special signup bonus offer for our readers you’ll receive the equivalent cash value of a Canadian stock worth up to $4,500 CAD once you add funds to your account.
So What if I Still Have Additional Questions About Forex Wealthsimple?
If this blog post hasn’t given you the answers to each of your questions, and you’re still searching for further specific answers about Www.wealthsimple Review, visit the Wealthsimple website to get answers to all your questions.