What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian digital investing, stock plus crypto trading web app that distinguishes itself from its competitors by charging no fees.
A leading Canadian fintech business founded in Autumn of twenty fourteen originally as a robo-advisor algorithmic trading platform called Wealthsimple Invest, it has improved considerably over the previous eight years to also feature Wealthsimple Trade, a no fees discount brokerage app.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade lets consumers to trade both stand alone stocks and ETFs without having to pay commissions. The exception is when trading stocks which are displayed in USD. In this case, they do charge a currency conversion fee when buying and selling. But, gone are the days of having to pay $7-12 per trade with discount brokerages as was normal just a few years past.
How Much Money Will I Need to Start Investing With Wealthsimple Trade?
Wealthsimple is special in that they allow Canadians to make a minimum deposit of only $1. Most traditional banks and brokerages have large minimum deposit amounts of $1000-$5,000. This makes it hard for the everyday investor to start investing. With Wealthsimple Trade, you don’t need to be wealthy to start trading stocks and ETFs.
So Does Wealthsimple Trade Have RRSP Accounts?
Yes. Wealthsimple Trade has available both registered and non-CRA-registered accounts. One are free to choose both RRSP and TFSA accounts during the setup phase.
So Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade offers a easy to use mobile app that is available on both IOS and Android. The smartphone app makes the enrollment process and also the trading of stocks and ETFs simple.
But Is Wealthsimple Trade Secure?
Yes. Wealthsimple Trade is trustworthy. Wealthsimple boasts over 15 billion Canadian of Assets Under Management . they’ve been doing business for more than 7 years and also now employs over 600 people. The majority owner is the large public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the very first no-fee digital discount brokerage operating in Canada.
But How Do I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it simple to deposit to an account. Just connect the app to 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 usually take a couple of days. Funds can also be withdrawn your chequing or savings accounts by using the same steps.
What Other Benefits and Products Are Available?
Wealthsimple Cash – An equivalent to e-transfers which allow one to quickly and efficiently send money to friends and family in Canada.
Wealthsimple Tax – Everything you need to prepare for tax year and file your taxes online for free. It’s advertised as simple, accurate and always totally free tax return filing.
Wealthsimple Spend – A combination pre paid visa and savings product which lets you to get 1% cashback on all your everyday 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 includes a bunch of different online courses on different topics such as saving, investments, crypto, home buying and much more.
Every one of the above products, including Wealthsimple Trade can be accessed within the mobile app and at the site with your Wealthsimple login.
How do I Get Started Using Wealthsimple Trade?
Click here to signup for your Wealthsimple Trade account. For an exclusive registration bonus offer for our audience you will get the cash value of a stock worth $25 up to $4,500 Canadian when you fund your account.
So What if I Still Have Questions About Binance Vs Wealthsimple?
If this review hasn’t given you the answers to all of your questions, and you’re still searching for additional facts relating to Binance Vs Wealthsimple, visit the Wealthsimple website for answers to every one of your questions.