What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian online Financial, stock plus crypto trading app that distinguishes itself from similar apps by charging absolutely no fees.
A leading Canadian online financial services business founded in the Fall twenty fourteen exclusively as a robo-advisor automated trading app named Wealthsimple Invest, it has changed substantially over the past 8 years to feature Wealthsimple Trade, a zero fees discount brokerage app.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade lets consumers to trade stand alone stocks and ETFs without having to pay commissions. The exception to this is when trading stocks which are displayed in US Dollars. In this case, they charge a currency conversion fee both when buying and selling. But, gone are the days of having to pay Upwards of $7 per each trade with digital discount brokerages as was expected a few years ago.
Exactly How Much Money do I Need to Start Investing on Wealthsimple Trade?
Wealthsimple is unique in that they allow investors to make a minimum deposit of just $1. Most alternative banks and brokerages have quite large minimum deposit amounts of 1K-5K. This makes it impossible for the typical investor to start. With Wealthsimple Trade, you won’t have to be wealthy to get started with trading stocks and ETFs.
But Does Wealthsimple Trade Offer TFSA Accounts?
Of course. Wealthsimple Trade offers both registered and non-registered account types. You may choose both RRSP and TFSA accounts in the setup phase.
So Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade offers a convenient mobile app that is offered on iOS and Android. The app makes the signup steps and trading of stocks and ETFs incredibly a breeze.
Is Wealthsimple Trade Trustworthy?
For sure. Wealthsimple Trade is legit. Wealthsimple has over 15 billion CAD in Assets Under Management . These folks have been doing business for more than 7 years and also right now employs roughly 600 Canadians. The majority owner is the respected public Canadian entity Power Corp of Canada. Weapthsimple Trade was the first no-fee digital brokerage to operate in Canada.
So How Do I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it incredibly straight forward to add funds to a new account. Simply connect to a chequing or savings account with your Trade account, then fund your account in only a couple of clicks. Deposits from financial institutions to Wealthsimple usually take just a couple of days. Funds can just as easily be moved back to a chequing or savings account through the exact same method.
What Other Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – An equivalent to Interac e-transfers which allows you to quickly and easily send cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to get ready for this tax year and file your taxes online free. It’s pitched to be easy, accurate and always totally free tax return filing.
Wealthsimple Spend – A combination pre paid visa and savings product that lets one to recieve 1% cashback on all your everyday spending, and also earn a very competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform that includes a ton of different courses on topics like saving, investing, crypto, mortgages and more.
All of the above products, including Wealthsimple Trade can be found on the app and on their website with one login.
How Can I Get Started With Wealthsimple Trade?
Click here to setup your Wealthsimple Trade account. For an exclusive signup bonus for our readers you will get the cash value of a random share worth $25 up to $4,500 Canadian as soon as you deposit to your account.
So What if I Still Have Additional Questions Concerning Wealthsimple Katchen?
If this article didn’t answered each of your questions, and you’re still searching for more specific information about Wealthsimple Katchen, go to the Wealthsimple site for answers to each your questions.