What is Wealthsimple?
Wealthsimple is a simple to use Canadian online Financial, stocks and crypto trading app that distinguishes itself from the competition by charging no fees.
A leading Canadian online financial services business founded in Autumn of twenty fourteen originally as a robo-advisor automated trading app named Wealthsimple Invest, it has changed significantly over the last eight years to feature Wealthsimple Trade, a no fee discount brokerage app.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade allows Canadian consumers to trade stand alone stocks and also ETFs without having to pay any fees. The exception to this is when trading securities which are denominated in USD. In this case, they will charge a small currency conversion fee when buying and selling. However, gone are the times of having to pay Upwards of $7 per each trade with online discount brokerages as was common only a couple years ago.
Exactly How Much Money Will I Need in Order to Start on Wealthsimple Trade?
Wealthsimple is unique such that they will allow new customers to make a minimum deposit of only $1. Many alternative banks and discount brokerages have quite large minimum deposit amounts of $1,000-5k. This makes it hard for the normal new investor to get started. With Wealthsimple Trade, one doesn’t need to already be wealthy to start trading stocks and ETFs.
So Does Wealthsimple Trade Have RRSP Accounts?
They do. Wealthsimple Trade offers CRA registered and non-registered account types. One can choose between both RRSP and TFSA account types during the setup phase.
So Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade has a convenient mobile app available to download on both iOS and also Google Play. The smartphone app makes the signup steps and trading of stocks and ETFs super painless.
So Is Wealthsimple Trade Secure?
Yes. Wealthsimple Trade is legit. Wealthsimple has over 15 billion Canadian of Assets Under Management (AUM). they’ve been operating for more than 7 years and also at this time employs roughly 600 Canadians. The main owner is the admired publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the very first no-fees digital discount brokerage operating in Canada.
How Can I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it quite straight forward to add money to an account. Simply connect to a chequing or savings account with your Trade account, then add money to your account in only a couple of steps. Deposits from your bank to Wealthsimple usually take a few days. Funds can the same way can be moved back to a chequing or savings account by using the same process.
Which Other Features and Products Are Available?
Wealthsimple Cash – This is alternative to Interac E-Transfers that allow anyone to quickly and easily transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you need to prepare for this tax season and submit your tax return online free. It’s pitched as simple, accurate and always free tax return filing.
Wealthsimple Spend – A hybrid prepaid debit card and savings product which allows one to get 1% cashback on your everyday spending, and also earn a competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform that includes a variety of different online courses on saving, investing, crypto, home buying and more.
Every one of the above features, including Wealthsimple Trade may be found inside the mobile app and at the website with one login.
How do I Begin Using Wealthsimple Trade?
Click here to register for a new Wealthsimple Trade account. As an exclusive signup bonus offer for our audience you will get the equivalent cash value of a random Canadian stock worth up to $4,500 CAD when you fund your account.
What if I Still Have Additional Questions Related to After Hours Trading Wealthsimple?
If this article still hasn’t given you the answers to each of your questions, and you’re still looking for more info relating to After Hours Trading Wealthsimple, check out the Wealthsimple website for answers to every one of your questions.