What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian web based Financial, stock and crypto trading app that differentiates itself from other apps by charging absolutely no fees.
A fintech company founded in Fall twenty fourteen originally as a robo-advisor trading platform named Wealthsimple Invest, it has changed significantly over the previous 8 years to include Wealthsimple Trade, a no fees discount brokerage platform.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade lets investors trade stand alone stocks and also ETFs without paying fees. The exception to this is when trading ETFs and stocks that are denominated in USD currency. In this case, they will charge a nominal currency conversion fee both when buying and selling. However, past us are the times of having to pay more than $7 per each trade with discount brokerages as was common just a few years past.
Exactly How Much Cash Will I Need to Start on Wealthsimple Trade?
Wealthsimple is special such that they allow Canadians to make a minimum deposit of only $1. The majority of alternative banks and brokerages have sizeable minimum deposit amounts of $1,000-5K. This makes it hard for the common investor to start investing. With Wealthsimple Trade, one doesn’t have to already be wealthy to start trading stocks and ETFs.
Does Wealthsimple Trade Offer Registered Accounts?
Of course. Wealthsimple Trade has available both CRA registered and non-registered account types. You are free to select both RRSP and TFSA accounts during the setup wizard.
So Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade offers a easy to use mobile app available to download on both iOS and Google Play. The smartphone app makes the registration process and also the trading of stocks and ETFs incredibly a breeze.
So Is Wealthsimple Trade Trustworthy?
Of course. Wealthsimple Trade is secure. Wealthsimple has over 15 billion Canadian of Assets Under Management . they’ve been expanding for more than 7 years and right now employs roughly 600 folks. The controlling owner is the respected public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the very first no-fees online discount brokerage to operate in Canada.
So How Do I Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it very straight forward to add funds to a new account. Simply connect to a chequing or savings account to your Trade account, and fund your account in simply a few steps. Deposits from financial institutions to Wealthsimple usually take just a couple of days. Funds can also be withdrawn a chequing or savings account by the same steps.
Which Other Features and Products Are Available?
Wealthsimple Cash – This is equivalent to E-transfers that allow you to quickly and simply send cash to friends and family in Canada.
Wealthsimple Tax – Everything you require to get ready for this tax year and file your taxes online free. It’s described as simple, accurate and always free tax filing.
Wealthsimple Spend – A combination prepaid debit card and savings account that lets you to earn 1% cashback on your everyday purchases, and also earn a competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform which offers a bunch of courses on different topics such as saving, investments, crypto, home buying and more.
Each of the mentioned features, including Wealthsimple Trade can be accessed within the app and on the website with a single login.
But How Should I Begin With Wealthsimple Trade?
Click here to create your Wealthsimple Trade account. As an exclusive signup bonus offer for our audience you’ll receive the equivalent cash value of a share worth $25 up to $4,500 Canadian when you make an initial deposit to your account.
What if I Still Have Additional Questions About Cryptocurrency On Wealthsimple?
If this article didn’t answered each of your questions, and you’re browsing for more specific answers about Cryptocurrency On Wealthsimple, check out the Wealthsimple website to get answers to every one of your questions.