What is Wealthsimple?
Wealthsimple is a simple to use Canadian web based investing, stocks and crypto trading app that distinguishes itself from other apps by charging absolutely no fees.
A leading Canadian fintech company launched in the Autumn of twenty fourteen exclusively as a robo advisor algorithmic automated trading app called Wealthsimple Invest, it has changed significantly over the previous eight years to feature Wealthsimple Trade, a no fee discount brokerage service.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade lets Canadian investors to trade both single stocks and also ETFs without needing to pay any commissions. The exception to this is when trading stocks which are denominated in USD. In this case, they charge a nominal currency conversion fee when buying and selling. However, gone are the days of having to pay Upwards of $7 per trade with discount brokerages as was normal just a few years past.
How Much Money Will I Need to Have in Order to Begin Investing on Wealthsimple Trade?
Wealthsimple is unique in that they will allow Canadians to make a minimum deposit of just $1. Most alternative banks and discount brokerages have quite large minimum deposit amounts of 1k-5K. This makes it hard for the typical new investor to start. With Wealthsimple Trade, you don’t need to be wealthy to start trading stocks and ETFs.
Does Wealthsimple Trade Have RRSP Accounts?
Yes. Wealthsimple Trade has both CRA registered and non-registered account types. One may select between both RRSP and TFSA accounts in the setup wizard.
So Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade has a easy to use mobile app that is available on IOS and Google Play. The mobile app makes the signup process and also trading of stocks and ETFs painless.
But Is Wealthsimple Trade Safe?
Yes. Wealthsimple Trade is trustworthy. Wealthsimple boasts over 15 billion Canadian of Assets Under Management (AUM). They have been operating for more than 7 years and currently employs over 600 Canadians. The controlling owner is the large publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade is the very first no-fee digital brokerage to operate in Canada.
How Can I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it so easy to fund a new account. Just connect to a chequing or savings account to your Trade account, and add funds to your account in simply a few steps. Deposits from banks to Wealthsimple normally take a couple of days. Funds can also be moved back to a chequing or savings accounts by using the exact same method.
What Other Benefits and Products Are Available?
Wealthsimple Cash – This is alternative to E-Transfers which allow you to quickly and simply send money to friends and family in Canada.
Wealthsimple Tax – Everything you need to prepare for tax season and submit your taxes online for free. It’s described to be simple, accurate and always totally free tax return filing.
Wealthsimple Spend – A combination pre paid visa and savings account which allows one to earn 1% cashback on all your everyday spending, and also earn a competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform that offers a ton of courses on topics like saving, investments, crypto, home buying and much more.
Every one of the mentioned products, including Wealthsimple Trade may be found inside the app or at their site with your Wealthsimple login.
So How Can I Start Using Wealthsimple Trade?
Click here to register for a new Wealthsimple Trade account. For a special registration bonus to our readers you’ll receive the equivalent cash value of a random share valued at $25 up to $4,500 Canadian when you add funds to your account.
But What if I Still Have Questions About Wealthsimple Free Stock?
If this blog post didn’t given you the answers to all of your questions, and you’re browsing for further specific info about Wealthsimple Free Stock, go to the Wealthsimple website to find answers to each your questions.