What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian digital Financial, securities plus crypto trading app that distinguishes itself from similar apps by charging absolutely no fees.
A leading Canadian online financial services business founded in Autumn of 2014 originally as a robo-advisor trading platform named Wealthsimple Invest, it has changed significantly over the past eight years to also include Wealthsimple Trade, a zero fee discount brokerage app.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade allows Canadian consumers trade single stocks and ETFs without paying commissions. The exception is when you’re trading securities that are listed in US Dollars. In that case, they do charge a nominal currency conversion fee both when buying and selling. However, gone are the times of having to pay more than $7 for each trade with digital discount brokerages as was common a couple years ago.
How Much Money Will I Need in Order to Get Started With Wealthsimple Trade?
Wealthsimple is special such that they will allow Canadian investors to make a minimum deposit of only $1. Many alternative banks and discount brokerages have quite large minimum deposit amounts of 1K-5k. This makes it hard for the typical investor to get started. With Wealthsimple Trade, you don’t have to be wealthy to get started with trading stocks and ETFs.
But Does Wealthsimple Trade Offer Registered Accounts?
They do. Wealthsimple Trade has available both CRA registered and non-CRA-registered account types. You are free to choose between both RRSP and TFSA accounts in the setup wizard.
So Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade offers a modern mobile app offered on both IOS and Android. The smartphone app makes the enrollment steps and also the trading of stocks and ETFs super simple.
So Is Wealthsimple Trade Legit?
. Wealthsimple Trade is legit. Wealthsimple reports more than 15 billion CAD of Assets Under Management . This company has been doing business for more than 7 years and also now employs about 600 Canadians. The majority owner is the publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade is the first no-fee digital discount brokerage operating in Canada.
How Can I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it quite straight forward to deposit to an account. Simply connect the app to a chequing or savings account to your Trade account, then add funds to your account in only a few steps. Deposits from financial institutions to Wealthsimple normally take only a few days. Funds can just as easily be moved to your chequing or savings accounts through the same method.
What Other Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is alternative to Interac e-Transfers that allow one to quickly and easily send cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to get ready for this tax season and submit your tax return online free. It’s advertised as easy, accurate and always free income tax filing.
Wealthsimple Spend – A combination prepaid debit card and savings product which allows you to get 1% cashback on your purchases, and also earn a competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform that includes a bunch of courses on different topics such as saving, investments, crypto, real estate and much more.
All of the mentioned products, along with Wealthsimple Trade can be accessed within the mobile app and from their website with a single login.
How do I Get Started Using Wealthsimple Trade?
Click here to create a Wealthsimple Trade account. As a special registration bonus to our audience you will receive the equivalent cash value of a random Canadian stock worth up to $4,500 CAD as soon as you add funds to your account.
So What if I Still Have Additional Questions Concerning Wealthsimple Jobs Salary?
If this article hasn’t given you the answers to each of your questions, and you’re still browsing for more facts relating to Wealthsimple Jobs Salary, visit the Wealthsimple site to get answers to each your questions.