What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian digital Financial, stocks and crypto trading platform that sets itself apart from other apps by charging absolutely no fees.
A fintech company founded in the Autumn of 2014 exclusively as a robo advisor trading platform called Wealthsimple Invest, it has improved considerably over the past 8 years to also include Wealthsimple Trade, a no fees discount brokerage service.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade allows consumers to trade individual stocks and also ETFs without needing to pay any commissions. The exception is when trading stocks that are listed in USD currency. In which case, they will charge a currency conversion fee when buying and selling. But, past us are the times of paying more than $7 for each trade with digital discount brokerages as was the norm a few years ago.
Exactly How Much Money Will I Need to Have to Begin Investing on Wealthsimple Trade?
Wealthsimple is cool such that they allow investors to make a minimum deposit of just $1. Many traditional banks and brokerages have quite large minimum deposit amounts of $1000-5K. This makes it difficult for the common new investor to get started. With Wealthsimple Trade, one doesn’t need to be wealthy to start trading stocks and ETFs.
Does Wealthsimple Trade Offer TFSA Accounts?
They do. Wealthsimple Trade has both registered and non-registered accounts. You are free to choose between both RRSP and TFSA accounts in the setup wizard.
So Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade offers a modern mobile app that is available on Apple and Android. The app makes the enrollment phase and also the trading of stocks and ETFs very a breeze.
So Is Wealthsimple Trade Safe?
Yes. Wealthsimple Trade is legit. Wealthsimple has over 15 billion Canadian of Assets Under Management (AUM). These folks have been in business for more than 7 years and also right now employs about 600 people. The primary shareholder is the admired publicly traded Canadian entity Power Corp of Canada. Weapthsimple Trade is the first no-fee digital brokerage operating in Canada.
So How Do I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it very straight forward to add funds to a new account. Just connect the app to a chequing or savings account to your Trade account, and fund your account in only a few clicks. Deposits from banks to Wealthsimple usually take only a few days. Funds can also be moved back to your chequing or savings accounts by using the exact same method.
Which Additional Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is equivalent to Interac e-Transfers which allow anyone to quickly and simply transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to get ready for this tax season and submit your taxes online for free. It’s advertised as simple, accurate and always totally free tax filing.
Wealthsimple Spend – A hybrid pre paid debit card and savings product that lets one to earn 1% cashback on your everyday purchases, as well as get a very competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform which offers a ton of courses on different topics such as saving, investments, crypto, real estate and much more.
Every one of the listed features, along with Wealthsimple Trade can be found inside the app or at their site with one login.
But How do I Get Started Using Wealthsimple Trade?
Click here to register for your Wealthsimple Trade account. As a special registration bonus offer for our audience you will get the cash value of a Canadian stock worth $25 up to $4,500 CAD as soon as you add funds to your account.
So What if I Still Have Questions About Income Tax Calculator Wealthsimple?
If this blog post hasn’t given you the answers to each of your questions, and you’re searching for further information about Income Tax Calculator Wealthsimple, check out the Wealthsimple website for answers to all your questions.