What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian web based Financial, securities plus crypto trading platform that differentiates itself from similar apps by charging absolutely no fees.
A leading Canadian fintech business launched in the Fall twenty fourteen originally as a robo-advisor algorithmic automated trading platform called Wealthsimple Invest, it has grown considerably over the past 8 years to also feature Wealthsimple Trade, a no fees discount brokerage service.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade lets consumers trade single stocks and ETFs without having to pay fees. The exception to this is when you’re trading securities which are listed in USD. In which case, they will charge a currency conversion fee when buying and selling. But, behind us are the times of paying Upwards of $7 per trade with digital discount brokerages as was normal just a couple years past.
Exactly How Much in Funds do I Need to Have in Order to Start Investing on Wealthsimple Trade?
Wealthsimple is unique in that they will allow Canadian investors to make a minimum deposit of just $1. Many alternative banks and discount brokerages have sizeable initial deposit amounts of 1K-5K. This makes it tough for the typical investor to start investing. With Wealthsimple Trade, one doesn’t have to be wealthy to begin trading stocks and ETFs.
But Does Wealthsimple Trade Offer TFSA Accounts?
Of course. Wealthsimple Trade has CRA registered and non-registered accounts. One may select between both RRSP and TFSA accounts in the setup process.
But Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade offers a well designed mobile app that is offered on iOS and Google Play. The app makes the signup steps and the trading of stocks and ETFs super easy.
But Is Wealthsimple Trade Secure?
For sure. Wealthsimple Trade is trustworthy. Wealthsimple boasts more than 15 billion Canadian in Assets Under Management (AUM). These folks have been expanding for more than 7 years and currently employs more than 600 Canadians. The controlling shareholder is the large publicly traded Canadian entity Power Corp of Canada. Weapthsimple Trade was the first no-fees online discount brokerage to operate in Canada.
How Does One Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it quite easy to fund your new account. Simply connect to a chequing or savings account with your Trade account, then fund your account in just a couple of steps. Deposits from financial institutions to Wealthsimple typically take only a few days. Funds can also be moved back to a chequing or savings account by using the exact same method.
Which Additional Features and Products Are Available?
Wealthsimple Cash – An equivalent to e-transfers that allow one to quickly and simply send money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to get ready for this tax year and submit your tax return online for free. It’s described to be simple, accurate and always free tax return filing.
Wealthsimple Spend – A combination pre paid visa and savings account which lets you to earn 1% cashback on all your everyday spending, and also earn a competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform that offers a ton of courses on topics like saving, investments, crypto, real estate and more.
Every one of the above products, along with Wealthsimple Trade can be found on the mobile app or from the site with one login.
But How Should I Start Using Wealthsimple Trade?
Click here to setup a Wealthsimple Trade account. For an exclusive signup bonus offer for our audience you will receive the cash value of a share worth up to $4,500 CAD when you fund your account.
What if I Still Have Questions Related to Layoffs Wealthsimple?
If this blog post didn’t given you the answers to each of your questions, and you’re looking for additional info about Layoffs Wealthsimple, check out the Wealthsimple website to get answers to all your questions.