What is Wealthsimple?
Wealthsimple is a simple to use Canadian web based Financial, securities plus crypto trading app that sets itself apart from the competition by charging no fees.
A online financial services business launched in Fall of twenty fourteen exclusively as a robo-advisor trading app named Wealthsimple Invest, it has evolved considerably over the last 8 years to also include Wealthsimple Trade, a zero fees discount brokerage platform.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade lets investors to trade single stocks and also ETFs without needing to pay commissions. The exception is when you’re trading securities which are denominated in USD currency. In that case, they do charge a currency conversion fee when buying and selling. However, past us are the times of having to pay more than $7 for each trade with digital discount brokerages as was expected just a few years past.
Exactly How Much Cash do I Need to Have to Start Investing on Wealthsimple Trade?
Wealthsimple is special in that they allow Canadian investors to make a minimum deposit of only $1. Most alternative banks and brokerages have sizeable initial deposit amounts of 1K-$5000. This makes it tough for the every day new investor to start. With Wealthsimple Trade, you don’t have to already be wealthy to get started with trading stocks and ETFs.
So Does Wealthsimple Trade Have TFSA Accounts?
Of course. Wealthsimple Trade has available both CRA registered and non-CRA-registered accounts. One are free to select both RRSP and TFSA account types during the setup process.
Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade has a convenient mobile app that is available to download on both iOS and also Google Play. The smartphone app makes the signup phase and trading of stocks and ETFs very simple.
Is Wealthsimple Trade Trustworthy?
Of course. Wealthsimple Trade is trustworthy. Wealthsimple has over 15 billion Canadian in Assets Under Management . This company has been doing business for more than 7 years and now employs over 600 people. The primary owner is the admired publicly traded Canadian entity Power Corp of Canada. Weapthsimple Trade is the very first no-fees online brokerage operating in Canada.
So How Does One Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it incredibly simple to add funds to a new account. Just connect the app to a chequing or savings account to your Trade account, and add money to your account in simply a few steps. Deposits from banks to Wealthsimple usually take just a couple of days. Funds can just as easily be withdrawn your chequing or savings account using the same steps.
What Other Benefits and Products Are Available?
Wealthsimple Cash – This is equivalent to e-transfers which allows one to quickly and simply send money to friends and family in Canada.
Wealthsimple Tax – Everything you require to prepare for this tax year and submit your tax return online for free. It’s pitched to be simple, accurate and always totally free tax filing.
Wealthsimple Spend – A hybrid prepaid debit card and savings account which lets you to earn 1% cashback on your spending, and also earn a competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform which includes a variety of online courses on saving, investing, crypto, mortgages and much more.
Every one of the mentioned products, including Wealthsimple Trade can be found in the app or on their site with a single login.
But How Can I Begin With Wealthsimple Trade?
Click here to setup a new Wealthsimple Trade account. For a special registration bonus to our readers you’ll receive the cash value of a random Canadian stock worth up to $4,500 CAD as soon as you fund your account.
But What if I Still Have Questions About Jeff Nichols Wealthsimple?
If this blog post didn’t given you the answers to all of your questions, and you’re still looking for additional specific info relating to Jeff Nichols Wealthsimple, check out the Wealthsimple site for answers to all your questions.