What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian web based Financial, securities plus crypto trading platform that distinguishes itself from similar apps by charging no fees.
A leading Canadian fintech business founded in the Autumn of 2014 exclusively as a robo advisor algorithmic trading platform named Wealthsimple Invest, it has grown considerably over the past 8 years to also include Wealthsimple Trade, a zero fees discount brokerage app.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade lets investors to trade stand alone stocks and ETFs without having to pay any fees. The exception to this is when you’re trading stocks which are displayed in USD currency. In that case, they charge a nominal currency conversion fee when buying and selling. But, behind us are the times of paying $7-12 for each trade with online discount brokerages as was common only a couple years past.
Exactly How Much Money Will I Need to Have in Order to Start With Wealthsimple Trade?
Wealthsimple is special in that they will allow investors to make a minimum deposit of just $1. The majority of alternative banks and discount brokerages have sizeable min deposit amounts of 1K-$5000. This makes it impossible for the normal new investor to start. With Wealthsimple Trade, one doesn’t need to be wealthy to start trading stocks and ETFs.
So Does Wealthsimple Trade Have Registered Accounts?
They do. Wealthsimple Trade has available both registered and non-CRA-registered account types. You are free to select both RRSP and TFSA account types during the setup phase.
Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade has a convenient mobile app that is offered on both iOS and Android. The app makes the enrollment phase and the trading of stocks and ETFs very painless.
Is Wealthsimple Trade Safe?
. Wealthsimple Trade is safe. Wealthsimple has in excess of 15 billion Canadian in Assets Under Management (AUM). This company has been expanding for more than 7 years and currently employs roughly 600 folks. The primary owner is the admired publicly traded Canadian entity Power Corp of Canada. Weapthsimple Trade was the very first no-fee digital discount brokerage to operate in Canada.
How Can I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it very simple to add funds to a new account. Just connect to a chequing or savings account to your Trade account, and then fund your account in only a couple of steps. Deposits from banks to Wealthsimple typically take just a couple of days. Funds can also be withdrawn a chequing or savings accounts through the same method.
Which Additional Benefits and Products Are Available?
Wealthsimple Cash – An equivalent to Interac E-transfers that allow one to quickly and efficiently send cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for tax season and file your tax return online free. It’s advertised to be simple, accurate and always free tax return filing.
Wealthsimple Spend – A hybrid prepaid debit card and savings account which lets one to get 1% cashback on your everyday spending, as well as get a competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform that includes a bunch of courses on saving, investing, crypto, home buying and more.
Each of the above products, along with Wealthsimple Trade may be found within the app or on their website with a single login.
But How do I Start Using Wealthsimple Trade?
Click here to setup a Wealthsimple Trade account. For a special registration bonus offer for our readers you’ll get the cash value of a random Canadian stock valued at $25 up to $4,500 Canadian once you make an initial deposit to your account.
So What if I Still Have Additional Questions About Wealthsimple Halal Portfolio Performance?
If this article hasn’t answered each of your questions, and you’re still browsing for additional specific information relating to Wealthsimple Halal Portfolio Performance, check out the Wealthsimple site for answers to all your questions.