What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian digital investing, securities and crypto trading web app that differentiates itself from similar apps by charging absolutely no fees.
A fintech business founded in the Autumn of twenty fourteen exclusively as a robo advisor trading platform called Wealthsimple Invest, it has grown considerably over the past eight years to also include Wealthsimple Trade, a zero fees discount brokerage service.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade allows investors to trade both individual stocks and ETFs without needing to pay fees. The exception is when trading stocks which are displayed in US Dollars. In that case, they do charge a nominal currency conversion fee both when buying and selling. But, past us are the days of paying $7-12 for each trade with discount brokerages as was the case only a couple years ago.
How Much in Funds Will I Need in Order to Get Started With Wealthsimple Trade?
Wealthsimple is unique such that they will allow investors to make a minimum deposit of only $1. Many alternative banks and brokerages have sizeable minimum deposit amounts of 1k-5K. This makes it difficult for the every day new investor to start. With Wealthsimple Trade, one doesn’t need to already be wealthy to start trading stocks and ETFs.
So Does Wealthsimple Trade Offer TFSA Accounts?
It does. Wealthsimple Trade has available both CRA registered and non-CRA-registered accounts. One are free to select between both RRSP and TFSA accounts during the setup process.
But Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade offers a convenient mobile app that is offered to download on IOS and also Google Play. The mobile app makes the registration steps and also trading of stocks and ETFs super simple.
So Is Wealthsimple Trade Legit?
Most definitely. Wealthsimple Trade is trustworthy. Wealthsimple reports over 15 billion CAD of Assets Under Management (AUM). These folks have been doing business for more than 7 years and right now employs roughly 600 people. The primary owner is the publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade was the first no-fee digital discount brokerage to operate in Canada.
So How Can I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it very easy to add funds to an account. Simply connect a chequing or savings account to your Trade account, then add funds to your account in just a few clicks. Deposits from your bank to Wealthsimple normally take only a few days. Funds can just as easily be moved back to a chequing or savings account through the exact same steps.
Which Other Benefits and Products Are Available?
Wealthsimple Cash – An equivalent to Interac e-transfers which allow anyone to quickly and efficiently send cash 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 as simple, accurate and always free tax filing.
Wealthsimple Spend – A combination prepaid debit card and savings product which lets one to earn 1% cashback on all your spending, and also earn a competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform that includes a ton of online courses on saving, investments, crypto, home buying and much more.
Each of the above features, along with Wealthsimple Trade may be found inside the app or at the website with your Wealthsimple login.
But How Can I Get Started With Wealthsimple Trade?
Click here to setup your Wealthsimple Trade account. For a special signup bonus offer to our readers you will receive the equivalent cash value of a random share worth $25 up to $4,500 Canadian once you make an initial deposit to your account.
What if I Still Have Additional Questions Concerning Wealthsimple Kingston Promos?
If this blog post still hasn’t given you the answers to all of your questions, and you’re still looking for further specific facts about Wealthsimple Kingston Promos, go to the Wealthsimple site for answers to all your questions.