What is Wealthsimple?
Wealthsimple is a simple to use Canadian digital Financial, securities plus crypto trading app that distinguishes itself from its competitors by charging absolutely no fees.
A fintech business founded in the Fall twenty fourteen exclusively as a robo advisor automated trading platform named Wealthsimple Invest, it has improved significantly over the last eight years to also feature Wealthsimple Trade, a no fee discount brokerage app.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade lets Canadian consumers trade individual stocks and also ETFs without paying fees. The exception to this is when trading stocks which are displayed in US Dollars. In that case, they charge a currency conversion fee both when buying and selling. But, gone are the times of having to pay more than $7 per each trade with digital discount brokerages as was expected just a couple years ago.
Exactly How Much Money do I Need to Begin Investing on Wealthsimple Trade?
Wealthsimple is unique in that they allow investors to make a minimum deposit of just $1. Most alternative banks and discount brokerages have quite large minimum deposit amounts of $1,000-$5000. This makes it difficult for the every day new investor to start investing. With Wealthsimple Trade, you won’t have to be wealthy to begin trading stocks and ETFs.
But Does Wealthsimple Trade Offer RRSP Accounts?
Yes. Wealthsimple Trade has available registered and non-registered accounts. One are able to select between both RRSP and TFSA account types during the setup process.
Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade has a modern mobile app that is offered to download on IOS and also Android. The app makes the signup steps and also the trading of stocks and ETFs incredibly painless.
But Is Wealthsimple Trade Secure?
Definitely. Wealthsimple Trade is legit. Wealthsimple has more than 15 billion Canadian of Assets Under Management (AUM). This company has been doing business for more than 7 years and also right now employs roughly 600 Canadians. The main shareholder is the publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade was the first no-fee digital discount brokerage to operate in Canada.
But How Do I Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it so 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 only a couple of clicks. Deposits from financial institutions to Wealthsimple typically take just a few days. Funds can just as easily be moved to your chequing or savings accounts with the same process.
Which Additional Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is alternative to e-Transfers which allow you to quickly and easily transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you need to get ready for this tax season and submit your taxes online free. It’s advertised as simple, accurate and always totally free income tax filing.
Wealthsimple Spend – A hybrid prepaid visa and savings product that lets one to get 1% cashback on all your everyday spending, and also earn a competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform that offers a bunch of online courses on different topics such as saving, investments, crypto, mortgages and much more.
All of the listed products, along with Wealthsimple Trade can be accessed on the app and at their site with your Wealthsimple login.
How Should I Start With Wealthsimple Trade?
Click here to register for your Wealthsimple Trade account. For an exclusive signup bonus for our readers you’ll receive the equivalent cash value of a stock valued at $25 up to $4,500 Canadian once you fund your account.
So What if I Still Have Additional Questions Concerning Good Wealthsimple Stocks?
If this blog post hasn’t answered each of your questions, and you’re looking for more specific facts relating to Good Wealthsimple Stocks, go to the Wealthsimple website for answers to all your questions.