What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian online Financial, stock and crypto trading platform that distinguishes itself from similar apps by charging absolutely no fees.
A Toronto, Ontario based fintech company founded in Fall twenty fourteen originally as a robo advisor algorithmic automated trading platform called Wealthsimple Invest, it has evolved substantially over the past eight years to also include Wealthsimple Trade, a no fee discount brokerage app.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade lets consumers to trade individual stocks and also ETFs without having to pay commissions. The exception to this is when you’re trading stocks and ETFs which are listed in US Dollars. In that case, they charge a small currency conversion fee both when buying and selling. However, gone are the days of paying Upwards of $7 per trade with digital discount brokerages as was the norm only a couple years past.
How Much in Funds do I Need to Start Investing on Wealthsimple Trade?
Wealthsimple is awesome such that they allow investors to make a minimum deposit of just $1. Many traditional banks and brokerages have quite large min deposit amounts of $1000-5k. This makes it hard for the common new investor to start investing. With Wealthsimple Trade, you won’t need to already be wealthy to get started with trading stocks and ETFs.
Does Wealthsimple Trade Have TFSA Accounts?
Of course. Wealthsimple Trade has both registered and non-registered account types. One may choose both RRSP and TFSA account types in the setup process.
But Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade has a well designed mobile app that is offered to download on both iOS and also Android. The smartphone app makes the enrollment phase and also the trading of stocks and ETFs truly simple.
So Is Wealthsimple Trade Secure?
For sure. Wealthsimple Trade is safe. Wealthsimple has more than 15 billion Canadian in Assets Under Management (AUM). These folks have been in business for more than 7 years and at this time employs roughly 600 folks. The primary shareholder is the public Canadian corporation Power Corp of Canada. Weapthsimple Trade is the very first no-fee online discount brokerage to operate in Canada.
How Can I Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it simple to add money to your account. Just connect the app to a chequing or savings account to your Trade account, and then add money to your account in only a few steps. Deposits from banks to Wealthsimple usually take only a few days. Funds can also be withdrawn your chequing or savings account with the same process.
Which Additional Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is equivalent to Interac E-Transfers which allows one to quickly and simply transfer 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 advertised as easy, accurate and always free tax return filing.
Wealthsimple Spend – A hybrid pre paid debit card and savings product that allows you to recieve 1% cashback on all your purchases, and also get a very competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform that includes a variety of online courses on saving, investments, crypto, home buying and more.
Each of the mentioned products, along with Wealthsimple Trade may be found on the app and at the site with your Wealthsimple login.
How Should I Begin With Wealthsimple Trade?
Click here to setup your Wealthsimple Trade account. As a special signup bonus offer for our readers you’ll receive the equivalent cash value of a share valued at $25 up to $4,500 Canadian once you deposit to your account.
What if I Still Have Questions Related to Wealthsimple Home Buyers Plan?
If this article hasn’t answered all of your questions, and you’re still looking for more specific facts about Wealthsimple Home Buyers Plan, check out the Wealthsimple website for answers to every one of your questions.