What is Wealthsimple?
Wealthsimple is a simple to use Canadian web based Financial, securities plus crypto trading app that distinguishes itself from the competition by charging no fees.
A fintech business founded in the Fall of 2014 originally as a robo advisor algorithmic automated trading platform called Wealthsimple Invest, it has evolved substantially over the past 8 years to also feature Wealthsimple Trade, a no fees discount brokerage app.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade lets consumers trade stand alone stocks and also ETFs without needing to pay fees. The exception is when you’re trading stocks and ETFs which are denominated in US Dollars. In which case, they do charge a nominal currency conversion fee when buying and selling. However, past us are the days of paying $7-12 per trade with online discount brokerages as was expected only a few years past.
Exactly How Much Cash Will I Need to Have in Order to Start With Wealthsimple Trade?
Wealthsimple is awesome such that they allow Canadians to make a minimum deposit of just $1. The majority of traditional banks and brokerages have sizeable initial deposit amounts of $1,000-$5000. This makes it tough for the everyday new investor to get started. With Wealthsimple Trade, you won’t need to be wealthy to get started with trading stocks and ETFs.
So Does Wealthsimple Trade Have Registered Accounts?
It does. Wealthsimple Trade offers both CRA registered and non-CRA-registered account types. You are free to choose both RRSP and TFSA account types during the setup wizard.
But Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade has a convenient mobile app that is offered on IOS and also Android. The mobile app makes the registration process and also trading of stocks and ETFs truly easy.
But Is Wealthsimple Trade Trustworthy?
Of course. Wealthsimple Trade is trustworthy. Wealthsimple has more than 15 billion Canadian in Assets Under Management (AUM). These folks have been in business for more than 7 years and also right now employs more than 600 Canadians. The main owner is the large publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the first no-fee digital discount brokerage operating in Canada.
How Can I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it very easy to deposit to a new account. Simply connect the app to a chequing or savings account to your Trade account, then add funds to your account in only a few steps. Deposits from your bank to Wealthsimple usually take just a few days. Funds can just as easily be withdrawn a chequing or savings accounts with the exact same steps.
What 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’ll require to prepare for this tax season and submit your tax return online for free. It’s described to be simple, accurate and always free income tax filing.
Wealthsimple Spend – A combination pre paid visa and savings product which allows one to get 1% cashback on all your everyday spending, and also earn a very competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform that offers a variety of different courses on different topics such as saving, investments, crypto, home buying and much more.
Every one of the listed features, including Wealthsimple Trade can be accessed within the app and at the website with one login.
How do I Start With Wealthsimple Trade?
Click here to create a Wealthsimple Trade account. For a special signup bonus to our readers you’ll receive the equivalent cash value of a Canadian stock valued at up to $4,500 Canadian as soon as you add funds to your account.
But What if I Still Have Questions About Wealthsimple Halal Etf?
If this blog post hasn’t answered all of your questions, and you’re looking for additional facts about Wealthsimple Halal Etf, check out the Wealthsimple website for answers to all your questions.