What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian web based Financial, securities plus crypto trading platform that differentiates itself from other apps by charging no fees.
A leading Canadian online financial services company founded in the Autumn of 2014 originally as a robo advisor automated trading app called Wealthsimple Invest, it has evolved considerably over the last 8 years to include Wealthsimple Trade, a no fee discount brokerage platform.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade allows Canadian consumers to trade both stand alone stocks and ETFs without needing to pay any commissions. The exception to this is when trading securities that are denominated in US Dollars. In that case, they do charge a nominal currency conversion fee both when buying and selling. However, gone are the days of paying more than $7 per trade with digital discount brokerages as was the norm only a few years past.
Exactly How Much in Funds Will I Need to Have to Get Started on Wealthsimple Trade?
Wealthsimple is awesome such that they will allow new customers to make a minimum deposit of just $1. The majority of traditional banks and discount brokerages have large initial deposit amounts of $1000-5K. This makes it hard for the everyday investor to get started. With Wealthsimple Trade, you won’t need to already be wealthy to get started with trading stocks and ETFs.
So Does Wealthsimple Trade Offer Registered Accounts?
It does. Wealthsimple Trade has both CRA registered and non-registered account types. One may select both RRSP and TFSA accounts during the setup phase.
But Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade offers a easy to use mobile app offered to download on IOS and also Android. The app makes the enrollment steps and the trading of stocks and ETFs truly painless.
Is Wealthsimple Trade Legit?
. Wealthsimple Trade is legit. Wealthsimple reports more than 15 billion CAD of Assets Under Management (AUM). These folks have been expanding for more than 7 years and now employs over 600 people. The main shareholder is the admired public Canadian entity Power Corp of Canada. Weapthsimple Trade was the very first no-fee online discount brokerage operating in Canada.
How Do I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it so straight forward to add funds to a new account. Just connect a chequing or savings account to your Trade account, and then fund your account in just a few steps. Deposits from banks to Wealthsimple normally take only a few days. Funds can also be withdrawn your chequing or savings accounts by using the same steps.
What Additional Benefits and Products Does Wealthsimple Offer?
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’ll require to prepare for tax season and submit your taxes online for free. It’s pitched as simple, accurate and always totally free tax return filing.
Wealthsimple Spend – A hybrid prepaid visa and savings product which allows you to get 1% cashback on all your everyday purchases, and also get a competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance platform that offers a bunch of courses on different topics such as saving, investments, crypto, home buying and more.
All of the mentioned products, along with Wealthsimple Trade can be found on the mobile app and at the site with your Wealthsimple login.
But How Should I Get Started Using Wealthsimple Trade?
Click here to signup for a Wealthsimple Trade account. For a special registration bonus offer to our readers you will receive the cash value of a Canadian stock worth $25 up to $4,500 Canadian as soon as you deposit to your account.
So What if I Still Have Questions Concerning Dividend Stocks Wealthsimple?
If this article hasn’t answered each of your questions, and you’re still looking for additional information about Dividend Stocks Wealthsimple, go to the Wealthsimple site to get answers to every one of your questions.