What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian digital investing, stocks plus crypto trading platform that differentiates itself from the competition by charging no fees.
A leading Canadian fintech business launched in the Autumn twenty fourteen exclusively as a robo advisor automated trading platform called Wealthsimple Invest, it has improved considerably over the previous 8 years to also feature Wealthsimple Trade, a no fees discount brokerage platform.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade lets consumers to trade individual stocks and ETFs without paying commissions. The exception to this is when trading stocks that are displayed in US Dollars. In this case, they do charge a small currency conversion fee when buying and selling. However, past us are the days of paying more than $7 per trade with discount brokerages as was expected just a couple years ago.
How Much in Funds do I Need in Order to Start Investing With Wealthsimple Trade?
Wealthsimple is cool such that they will allow investors to make a minimum deposit of only $1. The majority of alternative banks and brokerages have large initial deposit amounts of $1,000-5k. This makes it tough for the every day new investor to start. With Wealthsimple Trade, you won’t need to be wealthy to start trading stocks and ETFs.
But Does Wealthsimple Trade Offer TFSA Accounts?
Of course. Wealthsimple Trade has both CRA registered and non-CRA-registered accounts. You are free to choose both RRSP and TFSA account types during the setup process.
But Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade offers a easy to use mobile app available to download on Apple and also Google Play. The smartphone app makes the registration steps and also the trading of stocks and ETFs incredibly easy.
Is Wealthsimple Trade Safe?
For sure. Wealthsimple Trade is safe. Wealthsimple has in excess of 15 billion CAD of Assets Under Management (AUM). They have been doing business for more than 7 years and at this time employs about 600 folks. The majority owner is the large publicly traded Canadian entity Power Corp of Canada. Weapthsimple Trade was the first no-fees digital brokerage to operate in Canada.
But How Can I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it straight forward to fund your account. Simply connect a chequing or savings account to your Trade account, and add money to your account in just a couple of steps. Deposits from banks to Wealthsimple typically take just a few days. Funds can just as easily be moved back to a chequing or savings accounts with the exact same method.
What Other Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – An alternative to E-Transfers which allows one to quickly and simply transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for tax year and submit your tax return online for free. It’s advertised as simple, accurate and always totally free income tax filing.
Wealthsimple Spend – A hybrid prepaid debit card and savings product which allows one to recieve 1% cashback on your purchases, and also earn a competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform which includes a variety of online courses on topics like saving, investments, crypto, real estate and much more.
Each of the mentioned products, including Wealthsimple Trade may be found in the mobile app or on their website with one login.
How Should I Begin With Wealthsimple Trade?
Click here to signup for your Wealthsimple Trade account. For an exclusive signup bonus to our readers you’ll receive the equivalent cash value of a Canadian stock worth up to $4,500 CAD once you fund your account.
What if I Still Have Questions About Wealthsimple Halal?
If this article didn’t answered each of your questions, and you’re searching for additional information relating to Wealthsimple Halal, check out the Wealthsimple website to get answers to all your questions.