What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian online Financial, stock plus crypto trading web app that distinguishes itself from other apps by charging absolutely no fees.
A Toronto, Ontario based fintech business founded in the Autumn twenty fourteen originally as a robo advisor trading app called Wealthsimple Invest, it has evolved considerably over the previous 8 years to also feature Wealthsimple Trade, a no fees discount brokerage app.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade allows Canadian investors trade individual stocks and also ETFs without paying fees. The exception is when you’re trading securities which are denominated in USD currency. In that case, they do charge a small currency conversion fee both when buying and selling. However, behind us are the days of having to pay more than $7 per trade with discount brokerages as was expected only a few years ago.
Exactly How Much Cash do I Need to Have in Order to Start on Wealthsimple Trade?
Wealthsimple is cool such that they allow investors to make a minimum deposit of only $1. The majority of alternative banks and brokerages have quite large min deposit amounts of $1,000-$5,000. This makes it difficult for the every day new investor to start. With Wealthsimple Trade, one doesn’t need to already be wealthy to begin trading stocks and ETFs.
So Does Wealthsimple Trade Have RRSP Accounts?
Of course. Wealthsimple Trade offers both CRA registered and non-registered accounts. One are free to select between both RRSP and TFSA accounts during the setup phase.
But Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade has a well designed mobile app offered on both Apple and also Android. The smartphone app makes the registration steps and also the trading of stocks and ETFs very a breeze.
But Is Wealthsimple Trade Legit?
Definitely. Wealthsimple Trade is secure. Wealthsimple has more than 15 billion Canadian in Assets Under Management (AUM). They have been doing business for more than 7 years and at this time employs about 600 people. The majority owner is the large public Canadian entity Power Corp of Canada. Weapthsimple Trade is the very first no-fee digital discount brokerage operating in Canada.
How Can I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it simple to fund your new account. Just connect the app to a chequing or savings account with your Trade account, and then add money to your account in just a few clicks. Deposits from your bank to Wealthsimple usually take only a couple of days. Funds can just as easily be moved back to a chequing or savings accounts by the same process.
What Other Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is equivalent to Interac e-transfers which allows one to quickly and efficiently send cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for this tax year and submit your taxes online free. It’s pitched to be easy, accurate and always free tax filing.
Wealthsimple Spend – A combination pre paid visa and savings account which allows one to earn 1% cashback on your everyday spending, and also get a competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance platform that includes a bunch of different online courses on saving, investments, crypto, home buying and more.
Each of the mentioned features, along with Wealthsimple Trade can be accessed on the app or at their website with a single login.
But How Should I Begin With Wealthsimple Trade?
Click here to signup for your Wealthsimple Trade account. For an exclusive signup bonus for our audience you will get the cash value of a random stock valued at up to $4,500 CAD as soon as you make an initial deposit to your account.
So What if I Still Have Questions About Wealthsimple Internship?
If this article hasn’t answered each of your questions, and you’re searching for additional information relating to Wealthsimple Internship, visit the Wealthsimple site for answers to every one of your questions.