What is Wealthsimple?
Wealthsimple is a simple to use Canadian digital investing, stock and crypto trading app that sets itself apart from the competition by charging absolutely no fees.
A leading Canadian fintech business launched in the Fall of twenty fourteen exclusively as a robo-advisor automated trading app called Wealthsimple Invest, it has grown considerably over the previous 8 years to feature Wealthsimple Trade, a no fee discount brokerage service.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade allows investors to trade both individual stocks and ETFs without needing to pay fees. The exception is when trading ETFs and stocks which are denominated in USD. In that case, they do charge a nominal currency conversion fee when buying and selling. But, past us are the days of paying $7-12 per trade with discount brokerages as was the case a couple years ago.
How Much in Funds do I Need in Order to Start on Wealthsimple Trade?
Wealthsimple is unique in that they will allow new customers to make a minimum deposit of only $1. Most alternative banks and discount brokerages have large initial deposit amounts of $1,000-$5,000. This makes it hard for the every day investor to start investing. With Wealthsimple Trade, you don’t have to already be wealthy to begin trading stocks and ETFs.
Does Wealthsimple Trade Have RRSP Accounts?
It does. Wealthsimple Trade offers both CRA registered and non-registered accounts. One are free to select between both RRSP and TFSA account types in the setup wizard.
So Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade offers a well designed mobile app offered to download on Apple and Android. The app makes the enrollment phase and also trading of stocks and ETFs a breeze.
So Is Wealthsimple Trade Trustworthy?
For sure. Wealthsimple Trade is legit. Wealthsimple has more than 15 billion CAD of Assets Under Management . They have been operating for more than 7 years and right now employs more than 600 Canadians. The majority shareholder is the publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the first no-fees online discount brokerage to operate in Canada.
But How Can I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it incredibly simple to deposit to your account. Simply connect to a chequing or savings account to your Trade account, and then add money to your account in just a couple of steps. Deposits from your bank to Wealthsimple typically take a few days. Funds can also be moved to a chequing or savings account using the same process.
What Additional Features and Products Are Available?
Wealthsimple Cash – This is alternative to e-Transfers that allows anyone to quickly and efficiently transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for this tax season and submit your tax return online free. It’s advertised as easy, accurate and always free tax return filing.
Wealthsimple Spend – A hybrid pre paid visa and savings product which allows one to get 1% cashback on all your purchases, and also get a very competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance platform that includes a variety of different courses on saving, investing, crypto, mortgages and much more.
Every one of the above products, along with Wealthsimple Trade may be accessed within the app and on the website with one login.
But How do I Begin With Wealthsimple Trade?
Click here to create a Wealthsimple Trade account. As a special signup bonus offer for our audience you will get the equivalent cash value of a random stock worth up to $4,500 Canadian once you deposit to your account.
So What if I Still Have Questions Related to Ecn Fees Wealthsimple?
If this review didn’t answered all of your questions, and you’re still searching for further facts relating to Ecn Fees Wealthsimple, go to the Wealthsimple website to find answers to all your questions.