What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian digital investing, stocks and crypto trading web app that differentiates itself from similar apps by charging no fees.
A leading Canadian fintech company founded in Autumn twenty fourteen originally as a robo advisor trading app named Wealthsimple Invest, it has grown considerably over the past 8 years to also feature Wealthsimple Trade, a zero fees discount brokerage platform.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade allows Canadian consumers trade both stand alone stocks and ETFs without having to pay any commissions. The exception to this is when you’re trading stocks and ETFs which are denominated in USD. In which case, they do charge a currency conversion fee both when buying and selling. However, behind us are the times of paying Upwards of $7 per trade with digital discount brokerages as was normal only a few years past.
Exactly How Much Money do I Need in Order to Begin Investing on Wealthsimple Trade?
Wealthsimple is cool in that they allow investors to make a minimum deposit of only $1. Many alternative banks and brokerages have sizeable initial deposit amounts of 1k-5k. This makes it difficult for the common investor to start. With Wealthsimple Trade, you won’t need to already be wealthy to start trading stocks and ETFs.
So Does Wealthsimple Trade Offer TFSA Accounts?
It does. Wealthsimple Trade has available both registered and non-CRA-registered account types. You are free to choose both RRSP and TFSA account types in the setup wizard.
So Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade has a easy to use mobile app that is available to download on IOS and also Google Play. The mobile app makes the enrollment steps and also the trading of stocks and ETFs truly a breeze.
So Is Wealthsimple Trade Safe?
Yes. Wealthsimple Trade is secure. Wealthsimple has over 15 billion Canadian in Assets Under Management . They have been operating for more than 7 years and also now employs roughly 600 folks. The controlling owner is the admired public Canadian company Power Corp of Canada. Weapthsimple Trade is the very first no-fees online discount brokerage operating in Canada.
How Does One Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it very straight forward to deposit to a new account. Just connect the app to a chequing or savings account with your Trade account, and add money to your account in simply a couple of steps. Deposits from banks to Wealthsimple typically take a few days. Funds can just as easily be withdrawn a chequing or savings accounts using the same process.
Which Other Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is equivalent to Interac e-Transfers which allows anyone to quickly and easily send money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to get ready for this tax year and file your tax return online for free. It’s described to be simple, accurate and always free income tax filing.
Wealthsimple Spend – A hybrid pre paid debit card and savings product which lets you to get 1% cashback on all your everyday spending, and also get a very competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform that offers a bunch of courses on different topics such as saving, investments, crypto, real estate and more.
Every one of the above features, including Wealthsimple Trade may be accessed within the mobile app or at the site with a single login.
How do I Start Using Wealthsimple Trade?
Click here to register for a new Wealthsimple Trade account. As an exclusive registration bonus to our audience you’ll receive the cash value of a Canadian stock worth up to $4,500 Canadian as soon as you deposit to your account.
So What if I Still Have Additional Questions Related to How To Delete Wealthsimple Account?
If this review still hasn’t given you the answers to all of your questions, and you’re browsing for further specific facts about How To Delete Wealthsimple Account, visit the Wealthsimple website to find answers to every one of your questions.