What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian web based Financial, stock and crypto trading web app that distinguishes itself from other apps by charging no fees.
A Toronto, Ontario based online financial services business launched in the Autumn of 2014 exclusively as a robo-advisor algorithmic trading app called Wealthsimple Invest, it has evolved significantly over the last 8 years to include Wealthsimple Trade, a zero fee discount brokerage service.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade lets consumers to trade both stand alone stocks and ETFs without paying fees. The exception to this is when trading ETFs and stocks which are denominated in USD. In this case, they will charge a currency conversion fee both when buying and selling. But, past us are the days of having to pay more than $7 per trade with digital discount brokerages as was common a couple years ago.
Exactly How Much Money do I Need to Have to Get Started With Wealthsimple Trade?
Wealthsimple is unique in that they will allow Canadians to make a minimum deposit of only $1. Many alternative banks and brokerages have sizeable initial deposit amounts of $1000-5K. This makes it tough for the typical investor to start investing. With Wealthsimple Trade, you won’t need to be wealthy to get started with trading stocks and ETFs.
But Does Wealthsimple Trade Offer Registered Accounts?
Of course. Wealthsimple Trade has CRA registered and non-registered accounts. One are able to select between both RRSP and TFSA accounts during the setup phase.
So Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade has a easy to use mobile app offered to download on both IOS and also Google Play. The mobile app makes the enrollment phase and also trading of stocks and ETFs super easy.
Is Wealthsimple Trade Safe?
For sure. Wealthsimple Trade is secure. Wealthsimple has more than 15 billion Canadian in Assets Under Management . These folks have been doing business for more than 7 years and also now employs more than 600 Canadians. The majority shareholder is the respected public Canadian entity Power Corp of Canada. Weapthsimple Trade is the first no-fee digital discount brokerage to operate in Canada.
So How Does One Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it so straight forward to add funds to your new account. Just connect a chequing or savings account with your Trade account, and add money to your account in simply a couple of steps. Deposits from your bank to Wealthsimple typically take just a few days. Funds can the same way can be moved to your chequing or savings account through the same steps.
What Other Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is alternative to E-transfers which allow you to quickly and simply send cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for this tax year and file your tax return online for free. It’s advertised to be simple, accurate and always free tax return filing.
Wealthsimple Spend – A hybrid pre paid debit card and savings account that lets you to recieve 1% cashback on your spending, and also get a very competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform which offers a bunch of courses on different topics such as saving, investing, crypto, mortgages and much more.
Every one of the above products, including Wealthsimple Trade can be found on the mobile app or on their site with your Wealthsimple login.
How Should I Start Using Wealthsimple Trade?
Click here to register for a Wealthsimple Trade account. As a special registration bonus offer for our audience you’ll receive the equivalent cash value of a random share worth $25 up to $4,500 Canadian as soon as you add funds to your account.
But What if I Still Have Questions Concerning Ben Reeves Wealthsimple?
If this review still hasn’t given you the answers to each of your questions, and you’re searching for more answers about Ben Reeves Wealthsimple, go to the Wealthsimple site to get answers to every one of your questions.