What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian digital Financial, securities plus crypto trading web app that sets itself apart from other apps by charging absolutely no fees.
A Toronto, Ontario based fintech company launched in the Fall twenty fourteen originally as a robo advisor trading app named Wealthsimple Invest, it has evolved considerably over the past 8 years to also feature Wealthsimple Trade, a zero fee discount brokerage service.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade allows investors trade stand alone stocks and also ETFs without having to pay any commissions. The exception is when you’re trading stocks that are listed in USD. In which case, they do charge a nominal currency conversion fee when buying and selling. But, gone are the times of having to pay $7-12 for each trade with discount brokerages as was the norm only a few years past.
How Much in Funds do I Need to Begin Investing on Wealthsimple Trade?
Wealthsimple is unique in that they will allow investors to make a minimum deposit of only $1. The majority of traditional banks and discount brokerages have sizeable minimum deposit amounts of 1K-5K. This makes it tough for the common new investor to start. With Wealthsimple Trade, one doesn’t have to already be wealthy to begin trading stocks and ETFs.
Does Wealthsimple Trade Have TFSA Accounts?
Of course. Wealthsimple Trade has available both registered and non-registered accounts. One are free to select between both RRSP and TFSA accounts in the setup process.
But Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade has a well designed mobile app that is available to download on both Apple and Google Play. The app makes the enrollment phase and also the trading of stocks and ETFs painless.
So Is Wealthsimple Trade Legit?
Most definitely. Wealthsimple Trade is legit. Wealthsimple reports more than 15 billion Canadian of Assets Under Management . they’ve been operating for more than 7 years and also currently employs roughly 600 people. The main shareholder is the admired public Canadian entity Power Corp of Canada. Weapthsimple Trade was the very first no-fee digital discount brokerage operating in Canada.
How Do I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it simple to add funds to your account. Just connect to a chequing or savings account to your Trade account, and then fund your account in only a couple of steps. Deposits from financial institutions to Wealthsimple usually take just a few days. Funds can just as easily be moved back to your chequing or savings account through the same method.
Which Other Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – An equivalent to Interac e-Transfers that allows anyone to quickly and efficiently send cash to friends and family in Canada.
Wealthsimple Tax – Everything you need to get ready for this tax year and file your tax return online free. It’s pitched as easy, accurate and always free income tax filing.
Wealthsimple Spend – A combination prepaid visa and savings account which lets you to get 1% cashback on your everyday spending, and also earn a very competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform that offers a variety of online courses on topics like saving, investments, crypto, real estate and much more.
Each of the listed features, including Wealthsimple Trade can be found inside the app or on the website with your Wealthsimple login.
But How Can I Get Started With Wealthsimple Trade?
Click here to signup for a new Wealthsimple Trade account. For a special registration bonus to our readers you’ll get the cash value of a share worth up to $4,500 CAD when you fund your account.
So What if I Still Have Questions Concerning Wealthsimple Board Of Directors?
If this blog post didn’t answered each of your questions, and you’re still looking for additional answers relating to Wealthsimple Board Of Directors, visit the Wealthsimple website to find answers to every one of your questions.