What is Wealthsimple?
Wealthsimple is a simple to use Canadian web based investing, stocks plus crypto trading platform that differentiates itself from similar apps by charging no fees.
A Toronto, Ontario based fintech business founded in Fall of twenty fourteen exclusively as a robo-advisor algorithmic automated trading app called Wealthsimple Invest, it has improved substantially over the last eight years to also include Wealthsimple Trade, a no fees discount brokerage service.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade lets Canadian investors to trade both individual stocks and also ETFs without needing to pay any commissions. The exception to this is when you’re trading stocks and ETFs which are denominated in USD currency. In which case, they do charge a currency conversion fee both when buying and selling. However, past us are the times of paying $7-12 per each trade with discount brokerages as was the case a couple years past.
How Much Cash do I Need to Start Investing With Wealthsimple Trade?
Wealthsimple is awesome such that they will allow new customers to make a minimum deposit of only $1. Most traditional banks and discount brokerages have large min deposit amounts of 1k-$5000. This makes it tough for the every day new investor to get started. With Wealthsimple Trade, you don’t have to already be wealthy to begin trading stocks and ETFs.
But Does Wealthsimple Trade Offer TFSA Accounts?
It does. Wealthsimple Trade has available CRA registered and non-CRA-registered account types. One may select between both RRSP and TFSA account types in the setup phase.
So Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade offers a easy to use mobile app that is available on both IOS and Google Play. The app makes the signup steps and also trading of stocks and ETFs easy.
But Is Wealthsimple Trade Secure?
Most definitely. Wealthsimple Trade is trustworthy. Wealthsimple reports in excess of 15 billion Canadian of Assets Under Management (AUM). These folks have been in business for more than 7 years and also currently employs about 600 people. The majority shareholder is the respected public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the very first no-fees digital discount brokerage to operate in Canada.
But How Does One Fund a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it incredibly straight forward to deposit to a new account. Simply connect a chequing or savings account with your Trade account, and then fund your account in only a couple of steps. 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 accounts through the exact same process.
What Other Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is alternative to Interac e-transfers which allow you to quickly and easily transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you require to prepare for tax year and file your tax return online for free. It’s pitched to be easy, accurate and always totally free tax return filing.
Wealthsimple Spend – A combination prepaid debit card and savings account that lets one to recieve 1% cashback on all your everyday purchases, as well as get a very competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform which offers a bunch of courses on different topics such as saving, investments, crypto, home buying and much more.
All of the listed features, including Wealthsimple Trade may be accessed on the mobile app or from their site with one login.
But How Should I Begin With Wealthsimple Trade?
Click here to setup a new Wealthsimple Trade account. For an exclusive registration bonus for our audience you will get the cash value of a random stock valued at up to $4,500 CAD when you make an initial deposit to your account.
So What if I Still Have Additional Questions Related to Wealthsimple Kingston?
If this blog post hasn’t answered each of your questions, and you’re still searching for more specific information relating to Wealthsimple Kingston, go to the Wealthsimple website for answers to all your questions.