What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian online investing, stocks plus crypto trading app that sets itself apart from the competition by charging absolutely no fees.
A leading Canadian online financial services business launched in Autumn 2014 originally as a robo-advisor automated trading platform named Wealthsimple Invest, it has grown significantly over the last 8 years to also include Wealthsimple Trade, a no fees discount brokerage app.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade lets consumers to trade both individual stocks and also ETFs without paying any commissions. The exception is when trading stocks and ETFs that are displayed in USD. In which case, they do charge a currency conversion fee when buying and selling. But, past us are the days of having to pay $7-12 per each trade with online discount brokerages as was common just a few years past.
How Much Money Will I Need to Begin Investing With Wealthsimple Trade?
Wealthsimple is special such that they allow Canadian investors to make a minimum deposit of only $1. Many alternative banks and discount brokerages have quite large min deposit amounts of $1000-5K. This makes it difficult for the normal new investor to start investing. With Wealthsimple Trade, you won’t need to already be wealthy to begin trading stocks and ETFs.
So Does Wealthsimple Trade Have Registered Accounts?
Yes. Wealthsimple Trade has CRA registered and non-CRA-registered accounts. One may choose both RRSP and TFSA account types in the setup phase.
Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade offers a well designed mobile app offered to download on IOS and Android. The app makes the signup steps and also the trading of stocks and ETFs super a breeze.
But Is Wealthsimple Trade Legit?
Most definitely. Wealthsimple Trade is trustworthy. Wealthsimple boasts in excess of 15 billion CAD of Assets Under Management . These folks have been doing business for more than 7 years and also currently employs roughly 600 Canadians. The controlling owner is the large public Canadian entity Power Corp of Canada. Weapthsimple Trade is the first no-fee online brokerage operating in Canada.
How Can I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it simple to fund your account. Simply connect the app to a chequing or savings account to your Trade account, and then add money to your account in simply a few steps. Deposits from your bank to Wealthsimple typically take only a couple of days. Funds can the same way can be moved back to your chequing or savings account by using the exact same method.
What Other Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is alternative to e-transfers which allow one to quickly and easily transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you require to prepare for tax season and file your tax return online for free. It’s advertised as easy, accurate and always free tax return filing.
Wealthsimple Spend – A hybrid pre paid visa and savings account that allows one to get 1% cashback on all your everyday purchases, as well as earn a competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform that offers a ton of different courses on different topics such as saving, investing, crypto, home buying and more.
Each of the listed products, along with Wealthsimple Trade can be accessed on the app or from the website with a single login.
So How Can I Start Using Wealthsimple Trade?
Click here to create your Wealthsimple Trade account. As an exclusive registration bonus for our readers you’ll receive the cash value of a share valued at $25 up to $4,500 CAD once you add funds to your account.
What if I Still Have Additional Questions Related to Wealthsimple Joint Investment Account?
If this article didn’t given you the answers to each of your questions, and you’re still searching for further information relating to Wealthsimple Joint Investment Account, visit the Wealthsimple site to get answers to every one of your questions.