What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian digital investing, securities and crypto trading web app that differentiates itself from its competitors by charging absolutely no fees.
A Toronto, Ontario based online financial services business founded in Fall of twenty fourteen originally as a robo-advisor algorithmic automated trading app named Wealthsimple Invest, it has changed considerably over the past 8 years to feature Wealthsimple Trade, a zero fee discount brokerage service.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade lets Canadian investors to trade both stand alone stocks and ETFs without paying fees. The exception is when trading stocks that are denominated in USD currency. In which case, they will charge a small currency conversion fee when buying and selling. But, past us are the times of having to pay $7-12 per trade with digital discount brokerages as was the case a couple years past.
How Much in Funds Will I Need to Have in Order to Start on Wealthsimple Trade?
Wealthsimple is special in that they will allow Canadian investors to make a minimum deposit of just $1. The majority of alternative banks and brokerages have quite large initial deposit amounts of 1k-5K. This makes it difficult for the typical investor to get started. With Wealthsimple Trade, one doesn’t have to already be wealthy to start trading stocks and ETFs.
So Does Wealthsimple Trade Have Registered Accounts?
It does. Wealthsimple Trade has available both registered and non-registered accounts. One are free to select between both RRSP and TFSA accounts during the setup process.
Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade offers a modern mobile app that is offered on iOS and Android. The mobile app makes the registration process and also trading of stocks and ETFs incredibly easy.
Is Wealthsimple Trade Legit?
For sure. Wealthsimple Trade is trustworthy. Wealthsimple has more than 15 billion CAD in Assets Under Management . This company has been operating for more than 7 years and also employs roughly 600 folks. The primary owner is the respected publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the very first no-fees digital brokerage to operate in Canada.
But How Can I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it so easy to deposit to your new account. Just connect the app to a chequing or savings account with your Trade account, then add money to your account in just a couple of steps. Deposits from financial institutions to Wealthsimple typically take a few days. Funds can also be moved to a chequing or savings accounts through the exact same method.
Which Other Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is equivalent to E-Transfers that allow anyone to quickly and easily transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for this tax season and submit your taxes online for free. It’s advertised to be easy, accurate and always totally free tax return filing.
Wealthsimple Spend – A hybrid pre paid visa and savings account that allows one to earn 1% cashback on your everyday spending, as well as get a competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform that offers a bunch of online courses on saving, investments, crypto, home buying and more.
All of the listed products, including Wealthsimple Trade can be found within the mobile app and on the website with your Wealthsimple login.
So How Can I Start With Wealthsimple Trade?
Click here to create a new Wealthsimple Trade account. As a special registration bonus for our readers you’ll get the cash value of a share worth $25 up to $4,500 Canadian once you add funds to your account.
What if I Still Have Questions Related to Jonathan Lau Wealthsimple?
If this article still hasn’t given you the answers to all of your questions, and you’re still looking for further specific facts about Jonathan Lau Wealthsimple, visit the Wealthsimple website for answers to every one of your questions.