What is Wealthsimple?
Wealthsimple is an easy to use Canadian online Financial, stock and crypto trading web app that distinguishes itself from similar apps by charging absolutely no fees.
A leading Canadian online financial services company launched in the Autumn 2014 originally as a robo advisor automated trading platform called Wealthsimple Invest, it has grown substantially over the last eight years to include Wealthsimple Trade, a no fees discount brokerage service.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade lets investors to trade stand alone stocks and ETFs without paying commissions. The exception is when you’re trading securities which are denominated in USD currency. In this case, they will charge a currency conversion fee when buying and selling. However, behind us are the days of having to pay Upwards of $7 for each trade with online discount brokerages as was expected just a few years ago.
How Much Cash do I Need to Have in Order to Begin Investing With Wealthsimple Trade?
Wealthsimple is cool such that they will allow Canadians to make a minimum deposit of only $1. The majority of alternative banks and brokerages have sizeable minimum deposit amounts of $1000-5k. This makes it impossible for the everyday new investor to get started. With Wealthsimple Trade, you don’t need to be wealthy to begin trading stocks and ETFs.
Does Wealthsimple Trade Offer Registered Accounts?
It does. Wealthsimple Trade has available CRA registered and non-registered account types. One can select between both RRSP and TFSA account types during the setup process.
Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade has a convenient mobile app that is offered to download on Apple and also Google Play. The smartphone app makes the enrollment phase and also trading of stocks and ETFs very a breeze.
So Is Wealthsimple Trade Trustworthy?
Most definitely. Wealthsimple Trade is legit. Wealthsimple boasts over 15 billion Canadian in Assets Under Management (AUM). they’ve been operating for more than 7 years and also at this time employs about 600 folks. The controlling owner is the admired public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the very first no-fees online brokerage operating in Canada.
But How Does One Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it so easy to add funds to your new account. Simply connect to a chequing or savings account with your Trade account, and then add money to your account in just a couple of clicks. Deposits from your bank to Wealthsimple typically take only a couple of days. Funds can the same way can be moved to your chequing or savings accounts using the exact same method.
Which Additional Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is equivalent to e-transfers that allow anyone to quickly and easily transfer cash 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 described as simple, accurate and always free income tax filing.
Wealthsimple Spend – A combination prepaid debit card and savings product which allows one to get 1% cashback on your purchases, and also get a competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform that offers a variety of courses on different topics such as saving, investments, crypto, real estate and much more.
All of the listed features, including Wealthsimple Trade may be accessed on the app or at their site with one login.
But How Should I Get Started With Wealthsimple Trade?
Click here to setup a Wealthsimple Trade account. As an exclusive registration bonus to our readers you’ll receive the cash value of a random stock valued at $25 up to $4,500 CAD when you fund your account.
What if I Still Have Questions About Etf Wealthsimple Reddit?
If this review still hasn’t answered each of your questions, and you’re browsing for more facts relating to Etf Wealthsimple Reddit, check out the Wealthsimple website to get answers to every one of your questions.