What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian online investing, stock plus crypto trading platform that sets itself apart from other apps by charging no fees.
A fintech business founded in the Fall of twenty fourteen originally as a robo-advisor algorithmic automated trading platform named Wealthsimple Invest, it has changed substantially over the previous eight years to feature Wealthsimple Trade, a zero fees discount brokerage app.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade allows Canadian consumers trade individual stocks and ETFs without having to pay commissions. The exception is when trading stocks and ETFs that are denominated in USD. In this case, they charge a currency conversion fee both when buying and selling. But, gone are the times of paying Upwards of $7 per each trade with discount brokerages as was normal only a few years past.
Exactly How Much in Funds do I Need to Have in Order to Get Started With Wealthsimple Trade?
Wealthsimple is cool in that they allow Canadians to make a minimum deposit of just $1. The majority of alternative banks and brokerages have quite large initial deposit amounts of 1K-5k. This makes it difficult for the everyday investor to start. With Wealthsimple Trade, you don’t have to be wealthy to begin trading stocks and ETFs.
Does Wealthsimple Trade Have Registered Accounts?
They do. Wealthsimple Trade has both registered and non-registered accounts. One can select between both RRSP and TFSA account types in the setup process.
Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade has a easy to use mobile app available on both iOS and also Google Play. The app makes the signup steps and also trading of stocks and ETFs incredibly painless.
But Is Wealthsimple Trade Legit?
Of course. Wealthsimple Trade is trustworthy. Wealthsimple boasts in excess of 15 billion Canadian in Assets Under Management (AUM). They have been in business for more than 7 years and currently employs more than 600 people. The primary shareholder is the respected publicly traded Canadian entity Power Corp of Canada. Weapthsimple Trade was the first no-fees online discount brokerage to operate in Canada.
So How Do I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it incredibly simple to deposit to a new account. Simply connect the app to a chequing or savings account to your Trade account, and fund your account in just a few steps. Deposits from financial institutions to Wealthsimple normally take only a couple of days. Funds can also be moved back to a chequing or savings account through the same method.
What Other Features and Products Are Available?
Wealthsimple Cash – An alternative to Interac E-Transfers that allows you to quickly and easily transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you need to prepare for this tax year and file your taxes online free. It’s described to be simple, accurate and always free tax return filing.
Wealthsimple Spend – A hybrid pre paid debit card and savings product which allows you to get 1% cashback on your spending, and also get a competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform that includes a variety of online courses on saving, investing, crypto, real estate and much more.
Each of the mentioned features, along with Wealthsimple Trade may be found in the app or from their website with a single login.
How Should I Get Started Using Wealthsimple Trade?
Click here to register for a Wealthsimple Trade account. As an exclusive registration bonus offer to our readers you’ll receive the cash value of a random stock worth $25 up to $4,500 Canadian when you add funds to your account.
So What if I Still Have Questions Related to Buying Bitcoin On Wealthsimple?
If this review didn’t given you the answers to each of your questions, and you’re still looking for additional specific information about Buying Bitcoin On Wealthsimple, check out the Wealthsimple site to get answers to each your questions.