What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian web based investing, stock plus crypto trading platform that sets itself apart from its competitors by charging absolutely no fees.
A Toronto, Ontario based fintech business founded in the Autumn twenty fourteen exclusively as a robo-advisor trading platform named Wealthsimple Invest, it has grown significantly over the last eight years to include Wealthsimple Trade, a no fees discount brokerage platform.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade lets Canadian consumers to trade stand alone stocks and also ETFs without paying any fees. The exception is when you’re trading stocks which are denominated in USD. In that case, they charge a nominal currency conversion fee both when buying and selling. But, past us are the times of paying Upwards of $7 for each trade with digital discount brokerages as was the case just a few years past.
Exactly How Much Money Will I Need to Start on Wealthsimple Trade?
Wealthsimple is unique such that they allow new customers to make a minimum deposit of just $1. The majority of traditional banks and brokerages have sizeable initial deposit amounts of 1K-5K. This makes it hard for the every day new investor to start investing. With Wealthsimple Trade, one doesn’t have to already be wealthy to start trading stocks and ETFs.
Does Wealthsimple Trade Have TFSA Accounts?
Of course. Wealthsimple Trade offers registered and non-CRA-registered accounts. One can choose both RRSP and TFSA account types during the setup process.
Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade offers a convenient mobile app available on both Apple and Google Play. The smartphone app makes the signup phase and the trading of stocks and ETFs incredibly easy.
So Is Wealthsimple Trade Secure?
Definitely. Wealthsimple Trade is secure. Wealthsimple has in excess of 15 billion CAD of Assets Under Management (AUM). they’ve been operating for more than 7 years and employs more than 600 people. The majority shareholder is the respected public Canadian corporation Power Corp of Canada. Weapthsimple Trade was the very first no-fee digital discount brokerage to operate in Canada.
But How Can I Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it straight forward to deposit to your account. Simply connect a chequing or savings account with your Trade account, and fund your account in only a few steps. Deposits from financial institutions to Wealthsimple typically take a few days. Funds can the same way can be moved back to a chequing or savings accounts with the exact same steps.
Which Other Features and Products Are Available?
Wealthsimple Cash – This is alternative to Interac E-Transfers that allows you to quickly and efficiently transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to get ready for this tax year and file your taxes online for free. It’s described as easy, accurate and always free tax return filing.
Wealthsimple Spend – A hybrid pre paid debit card and savings account which lets one to get 1% cashback on all your spending, as well as earn a competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform that includes a variety of online courses on topics like saving, investments, crypto, home buying and much more.
All of the above features, along with Wealthsimple Trade can be found inside the app or from the website with a single login.
So How Should I Begin Using Wealthsimple Trade?
Click here to signup for your Wealthsimple Trade account. For a special registration bonus for our audience you will receive the cash value of a random share worth up to $4,500 Canadian as soon as you make an initial deposit to your account.
So What if I Still Have Additional Questions About Wealthsimple Joint Cash Account?
If this review didn’t answered all of your questions, and you’re still browsing for further answers relating to Wealthsimple Joint Cash Account, check out the Wealthsimple website to get answers to every one of your questions.