What is Wealthsimple?
Wealthsimple is a simple to use Canadian online Financial, stocks plus crypto trading app that distinguishes itself from the competition by charging no fees.
A leading Canadian fintech company founded in the Fall twenty fourteen originally as a robo advisor automated trading platform called Wealthsimple Invest, it has evolved significantly over the last 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 also ETFs without needing to pay fees. The exception to this is when trading securities that are listed in USD. In this case, they will charge a currency conversion fee both when buying and selling. However, behind us are the times of having to pay $7-12 per each trade with digital discount brokerages as was normal only a few years ago.
Exactly How Much Money do I Need to Start on Wealthsimple Trade?
Wealthsimple is cool in that they allow new customers to make a minimum deposit of only $1. Many traditional banks and brokerages have sizeable min deposit amounts of 1K-$5000. This makes it hard for the typical investor to start investing. With Wealthsimple Trade, you won’t have to be wealthy to get started with trading stocks and ETFs.
Does Wealthsimple Trade Offer TFSA Accounts?
Of course. Wealthsimple Trade has available both registered and non-CRA-registered accounts. One are able to choose between both RRSP and TFSA accounts during the setup process.
Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade has a modern mobile app that is offered on iOS and Google Play. The app makes the registration steps and also trading of stocks and ETFs super a breeze.
But Is Wealthsimple Trade Legit?
Yes. Wealthsimple Trade is secure. Wealthsimple boasts over 15 billion Canadian of Assets Under Management . These folks have been doing business for more than 7 years and currently employs more than 600 Canadians. The main owner is the admired publicly traded Canadian entity Power Corp of Canada. Weapthsimple Trade is the first no-fee online discount brokerage operating in Canada.
But How Can I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it quite easy to fund an account. Simply connect to a chequing or savings account with your Trade account, then add funds to your account in simply a few clicks. Deposits from banks to Wealthsimple usually take only a few days. Funds can the same way can be withdrawn your chequing or savings accounts with the exact same steps.
What Additional Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is equivalent to e-Transfers that allow anyone to quickly and efficiently send money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to prepare for tax season and submit your tax return online for free. It’s pitched to be easy, accurate and always totally free tax return filing.
Wealthsimple Spend – A combination pre paid debit card and savings account that lets one to earn 1% cashback on your everyday purchases, as well as get a competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform which includes a ton of online courses on saving, investments, crypto, home buying and much more.
All of the listed products, including Wealthsimple Trade may be accessed within the mobile app or from their website with your Wealthsimple login.
But How do I Begin With Wealthsimple Trade?
Click here to setup a new Wealthsimple Trade account. For an exclusive signup bonus offer for our readers you will get the equivalent cash value of a random share valued at $25 up to $4,500 CAD as soon as you make an initial deposit to your account.
But What if I Still Have Additional Questions Related to How To Trade On Wealthsimple?
If this article hasn’t given you the answers to each of your questions, and you’re browsing for further specific info about How To Trade On Wealthsimple, check out the Wealthsimple site to get answers to all your questions.