What is Wealthsimple?
Wealthsimple is a simple to use Canadian digital Financial, stocks plus crypto trading web app that differentiates itself from other apps by charging no fees.
A fintech business launched in the Autumn of twenty fourteen originally as a robo-advisor algorithmic trading platform called Wealthsimple Invest, it has improved substantially over the previous eight years to include Wealthsimple Trade, a no fee discount brokerage service.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade allows consumers to trade both single stocks and also ETFs without paying any commissions. The exception to this is when trading ETFs and stocks which are denominated in USD. In which case, they will charge a currency conversion fee both when buying and selling. However, behind us are the days of paying more than $7 per trade with discount brokerages as was common just a few years past.
How Much in Funds do I Need to Have in Order to Start With Wealthsimple Trade?
Wealthsimple is awesome in that they will allow investors to make a minimum deposit of just $1. The majority of traditional banks and discount brokerages have sizeable minimum deposit amounts of 1K-$5000. This makes it hard for the every day investor to start. With Wealthsimple Trade, you don’t need to already be wealthy to start trading stocks and ETFs.
But Does Wealthsimple Trade Have TFSA Accounts?
Of course. Wealthsimple Trade offers both registered and non-CRA-registered account types. One may choose both RRSP and TFSA accounts in the setup wizard.
Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade offers a modern mobile app available on both IOS and also Android. The app makes the enrollment steps and also the trading of stocks and ETFs a breeze.
But Is Wealthsimple Trade Legit?
For sure. Wealthsimple Trade is trustworthy. Wealthsimple has over 15 billion CAD of Assets Under Management (AUM). they’ve been in business for more than 7 years and at this time employs roughly 600 Canadians. The primary shareholder is the public Canadian entity Power Corp of Canada. Weapthsimple Trade was the first no-fee online brokerage to operate in Canada.
But How Do I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it incredibly simple to add funds to your account. Simply connect to a chequing or savings account to your Trade account, and add money to your account in only a couple of steps. Deposits from financial institutions to Wealthsimple normally take a few days. Funds can just as easily be withdrawn a chequing or savings account by the exact same process.
Which Other Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – An alternative to e-transfers which allows you to quickly and easily transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you need to prepare for this tax year and file your taxes online for free. It’s advertised to be simple, accurate and always totally free income tax filing.
Wealthsimple Spend – A hybrid prepaid visa and savings account which lets one to recieve 1% cashback on all your everyday purchases, and also earn a competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform that offers a bunch of different courses on saving, investments, crypto, mortgages and more.
Every one of the mentioned features, including Wealthsimple Trade can be found within the mobile app and from their site with one login.
How Can I Start With Wealthsimple Trade?
Click here to register for a Wealthsimple Trade account. As an exclusive registration bonus offer to our audience you’ll receive the equivalent cash value of a share valued at up to $4,500 Canadian as soon as you deposit to your account.
What if I Still Have Questions About Free Stock Wealthsimple?
If this review hasn’t given you the answers to each of your questions, and you’re browsing for additional information about Free Stock Wealthsimple, visit the Wealthsimple website for answers to all your questions.