What is Wealthsimple?
Wealthsimple is an easy to use Canadian web based investing, securities plus crypto trading app that distinguishes itself from its competitors by charging absolutely no fees.
A Toronto, Ontario based fintech business founded in Fall twenty fourteen originally as a robo-advisor automated trading platform named Wealthsimple Invest, it has grown substantially over the last eight years to include Wealthsimple Trade, a no fee discount brokerage platform.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade lets investors to trade both single stocks and ETFs without needing to pay any fees. The exception to this is when trading securities that are displayed in USD currency. In that case, they do charge a small currency conversion fee both when buying and selling. But, gone are the days of having to pay more than $7 for each trade with digital discount brokerages as was normal only a few years ago.
Exactly How Much Cash Will I Need to Have to Get Started With Wealthsimple Trade?
Wealthsimple is unique in that they will allow Canadians to make a minimum deposit of just $1. The majority of alternative banks and brokerages have sizeable minimum deposit amounts of 1k-$5,000. This makes it hard for the everyday new investor to get started. With Wealthsimple Trade, you don’t need to be wealthy to start trading stocks and ETFs.
So Does Wealthsimple Trade Offer RRSP Accounts?
It does. Wealthsimple Trade has CRA registered and non-CRA-registered accounts. One may select between both RRSP and TFSA accounts in the setup wizard.
But Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade has a convenient mobile app offered on both Apple and also Android. The smartphone app makes the registration steps and trading of stocks and ETFs incredibly easy.
Is Wealthsimple Trade Secure?
Most definitely. Wealthsimple Trade is legit. Wealthsimple boasts more than 15 billion Canadian of Assets Under Management . These folks have been in business for more than 7 years and also right now employs over 600 folks. The controlling owner is the admired publicly traded Canadian entity Power Corp of Canada. Weapthsimple Trade is the very first no-fee online discount brokerage operating in Canada.
So How Does One Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it so simple to fund your account. Simply connect to a chequing or savings account with your Trade account, and then fund your account in simply a few steps. Deposits from financial institutions to Wealthsimple usually take a few days. Funds can just as easily be withdrawn your chequing or savings accounts using the same steps.
What Additional Features and Products Are Available?
Wealthsimple Cash – An alternative to Interac e-transfers which allows anyone to quickly and easily transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you require to get ready for tax season and file your taxes online for free. It’s advertised as simple, accurate and always free tax filing.
Wealthsimple Spend – A hybrid pre paid debit card and savings account that lets you to earn 1% cashback on all your everyday purchases, and also get a competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform that includes a ton of different online courses on saving, investments, crypto, home buying and more.
All of the mentioned features, along with Wealthsimple Trade may be accessed on the mobile app and from their site with a single login.
How Should I Start With Wealthsimple Trade?
Click here to signup for a new Wealthsimple Trade account. For a special registration bonus offer for our readers you will get the equivalent cash value of a stock valued at up to $4,500 Canadian once you add funds to your account.
But What if I Still Have Additional Questions Concerning Fractional Buy Wealthsimple?
If this blog post didn’t given you the answers to each of your questions, and you’re still browsing for further specific facts about Fractional Buy Wealthsimple, visit the Wealthsimple site for answers to all your questions.