What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian digital investing, securities plus crypto trading platform that sets itself apart from other apps by charging no fees.
A Toronto, Ontario based fintech business launched in Fall of twenty fourteen originally as a robo advisor algorithmic automated trading platform called Wealthsimple Invest, it has changed considerably over the last 8 years to also include Wealthsimple Trade, a no fee discount brokerage app.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade lets Canadian consumers trade both individual stocks and ETFs without having to pay commissions. The exception is when trading stocks and ETFs which are displayed in US Dollars. In this case, they charge a currency conversion fee both when buying and selling. But, past us are the days of having to pay more than $7 for each trade with discount brokerages as was the case only a couple years past.
Exactly How Much in Funds do I Need to Get Started With Wealthsimple Trade?
Wealthsimple is cool such that they allow investors to make a minimum deposit of only $1. Many alternative banks and brokerages have sizeable min deposit amounts of $1,000-$5000. This makes it tough for the every day investor to start investing. With Wealthsimple Trade, one doesn’t have to already be wealthy to get started with trading stocks and ETFs.
So Does Wealthsimple Trade Have Registered Accounts?
Yes. Wealthsimple Trade offers both registered and non-registered accounts. You can choose between both RRSP and TFSA accounts during the setup process.
So Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade has a well designed mobile app offered on iOS and Android. The mobile app makes the signup process and also trading of stocks and ETFs truly easy.
So Is Wealthsimple Trade Secure?
. Wealthsimple Trade is safe. Wealthsimple has in excess of 15 billion Canadian in Assets Under Management (AUM). This company has been doing business for more than 7 years and also employs over 600 folks. The primary shareholder is the publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade is the very first no-fee digital brokerage to operate in Canada.
But How Can I Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it quite simple to add money to a new account. Just connect the app to a chequing or savings account to your Trade account, then add money to your account in just a couple of steps. Deposits from banks to Wealthsimple usually take just a few days. Funds can the same way can be moved back to your chequing or savings accounts with the exact same process.
What Other Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An equivalent to Interac e-transfers that allows one to quickly and efficiently send cash to friends and family in Canada.
Wealthsimple Tax – Everything you need to prepare for this tax year and file your taxes online free. It’s pitched to be simple, accurate and always totally free tax filing.
Wealthsimple Spend – A combination prepaid debit card and savings account which lets you to get 1% cashback on all your spending, as well as get a very competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform that includes a ton of online courses on saving, investing, crypto, real estate and more.
All of the mentioned features, including Wealthsimple Trade can be accessed inside the mobile app and on the website with a single login.
But How do I Start With Wealthsimple Trade?
Click here to setup a Wealthsimple Trade account. For an exclusive registration bonus to our readers you’ll receive the equivalent cash value of a random share worth up to $4,500 Canadian when you deposit to your account.
So What if I Still Have Questions Related to Wealthsimple Kyc?
If this article didn’t given you the answers to all of your questions, and you’re searching for further answers about Wealthsimple Kyc, go to the Wealthsimple website to find answers to every one of your questions.