What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian web based Financial, securities and crypto trading app that sets itself apart from the competition by charging absolutely no fees.
A Toronto, Ontario based fintech business launched in the Fall of twenty fourteen exclusively as a robo-advisor trading platform named Wealthsimple Invest, it has evolved significantly over the previous eight years to also feature Wealthsimple Trade, a zero fees discount brokerage service.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade allows investors to trade both stand alone stocks and also ETFs without having to pay any fees. The exception to this is when trading stocks and ETFs which are displayed in USD. In which case, they do charge a currency conversion fee both when buying and selling. However, past us are the times of having to pay $7-12 for each trade with discount brokerages as was common just a couple years ago.
Exactly How Much Cash do I Need to Have to Get Started With Wealthsimple Trade?
Wealthsimple is unique in that they will allow Canadians to make a minimum deposit of only $1. Many alternative banks and brokerages have large initial deposit amounts of 1K-5k. This makes it difficult for the typical new investor to start. With Wealthsimple Trade, you won’t have to already be wealthy to get started with trading stocks and ETFs.
Does Wealthsimple Trade Have TFSA Accounts?
It does. Wealthsimple Trade has registered and non-CRA-registered accounts. One are able to select both RRSP and TFSA account types in the setup process.
But Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade offers a well designed mobile app offered on both iOS and also Android. The smartphone app makes the signup phase and also the trading of stocks and ETFs simple.
So Is Wealthsimple Trade Legit?
Definitely. Wealthsimple Trade is secure. Wealthsimple reports in excess of 15 billion Canadian in Assets Under Management (AUM). These folks have been in business for more than 7 years and right now employs about 600 Canadians. The primary owner is the publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the first no-fees digital brokerage operating in Canada.
How Do I Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it incredibly easy to add money to your new account. Just connect the app to a chequing or savings account to your Trade account, then add funds to your account in only a couple of steps. Deposits from banks to Wealthsimple normally take only a couple of days. Funds can also be moved to a chequing or savings account through the same method.
What Other Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is alternative to Interac e-transfers which allow you to quickly and simply transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you require to prepare for tax year and submit your taxes online free. It’s pitched to be simple, accurate and always totally free tax return filing.
Wealthsimple Spend – A combination pre paid visa and savings account which lets one to earn 1% cashback on your spending, as well as earn a very competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform which offers a ton of courses on topics like saving, investing, crypto, real estate and much more.
Each of the mentioned features, along with Wealthsimple Trade can be found in the app or from their website with a single login.
So How do I Start With Wealthsimple Trade?
Click here to create a new Wealthsimple Trade account. As an exclusive signup bonus offer to our audience you’ll receive the cash value of a random Canadian stock valued at up to $4,500 Canadian once you fund your account.
But What if I Still Have Questions Related to Wealthsimple Income Tax Calculator?
If this review hasn’t answered each of your questions, and you’re searching for further specific information relating to Wealthsimple Income Tax Calculator, go to the Wealthsimple site for answers to each your questions.