What is Wealthsimple?
Wealthsimple is an easy to use Canadian web based Financial, stock plus crypto trading web app that sets itself apart from similar apps by charging absolutely no fees.
A leading Canadian fintech company founded in Autumn of 2014 originally as a robo advisor algorithmic trading app named Wealthsimple Invest, it has grown significantly over the last 8 years to include Wealthsimple Trade, a zero fee discount brokerage platform.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade allows Canadian consumers trade both individual stocks and also ETFs without having to pay any fees. The exception is when trading stocks that are denominated in US Dollars. In that case, they will charge a nominal currency conversion fee both when buying and selling. But, past us are the days of having to pay more than $7 per trade with online discount brokerages as was expected only a couple years past.
Exactly How Much Money do I Need to Have in Order to Start Investing With Wealthsimple Trade?
Wealthsimple is awesome in that they allow Canadian investors to make a minimum deposit of just $1. The majority of alternative banks and brokerages have large minimum deposit amounts of 1K-$5,000. This makes it hard for the everyday new investor to get started. With Wealthsimple Trade, one doesn’t need to already be wealthy to get started with trading stocks and ETFs.
But Does Wealthsimple Trade Offer Registered Accounts?
Of course. Wealthsimple Trade has available CRA registered and non-registered accounts. One are free to choose between both RRSP and TFSA account types in the setup process.
Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade has a modern mobile app that is available on both IOS and also Android. The app makes the signup process and the trading of stocks and ETFs truly easy.
But Is Wealthsimple Trade Secure?
. Wealthsimple Trade is secure. Wealthsimple reports over 15 billion CAD in Assets Under Management . These folks have been expanding for more than 7 years and currently employs more than 600 folks. The majority owner is the admired public Canadian entity Power Corp of Canada. Weapthsimple Trade is the very first no-fee digital discount brokerage operating in Canada.
How Can I Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it easy to deposit to your new account. Simply connect to a chequing or savings account to your Trade account, and add money to your account in just a couple of clicks. Deposits from your bank to Wealthsimple normally take just a few days. Funds can the same way can be moved back to a chequing or savings account by using the exact same method.
Which Additional Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An alternative to Interac E-transfers that allows one to quickly and easily send cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for this tax year and submit your tax return online free. It’s described to be simple, accurate and always totally free tax return filing.
Wealthsimple Spend – A hybrid pre paid visa and savings account which lets one to recieve 1% cashback on all your purchases, as well as earn a competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform which offers a bunch of online courses on saving, investing, crypto, home buying and much more.
Each of the listed features, along with Wealthsimple Trade may be accessed within the app or from the website with a single login.
How Should I Start Using Wealthsimple Trade?
Click here to register for a Wealthsimple Trade account. As an exclusive registration bonus to our audience you will get the equivalent cash value of a random stock valued at $25 up to $4,500 Canadian when you deposit to your account.
What if I Still Have Questions About Forex Wealthsimple?
If this review didn’t given you the answers to each of your questions, and you’re browsing for further answers relating to Forex Wealthsimple, visit the Wealthsimple site to get answers to all your questions.