What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian web based investing, stocks plus crypto trading platform that distinguishes itself from other apps by charging absolutely no fees.
A Toronto, Ontario based online financial services company founded in the Fall of twenty fourteen exclusively as a robo advisor algorithmic trading platform named Wealthsimple Invest, it has changed considerably over the past 8 years to include Wealthsimple Trade, a no fees discount brokerage app.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade allows investors trade both single stocks and also ETFs without having to pay fees. The exception to this is when trading stocks and ETFs which are displayed in USD. In which case, they do charge a currency conversion fee when buying and selling. But, behind us are the days of paying more than $7 per trade with online discount brokerages as was the case just a few years ago.
Exactly How Much Cash do I Need in Order to Start With Wealthsimple Trade?
Wealthsimple is awesome such that they allow Canadians to make a minimum deposit of just $1. The majority of alternative banks and discount brokerages have quite large min deposit amounts of 1K-$5,000. This makes it tough for the every day investor to start investing. With Wealthsimple Trade, you don’t have to be wealthy to get started with trading stocks and ETFs.
But Does Wealthsimple Trade Offer Registered Accounts?
They do. Wealthsimple Trade has CRA registered and non-registered accounts. You can choose both RRSP and TFSA account types during the setup phase.
But Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade has a well designed mobile app offered to download on IOS and Google Play. The mobile app makes the enrollment process and also trading of stocks and ETFs incredibly easy.
So Is Wealthsimple Trade Legit?
For sure. Wealthsimple Trade is legit. Wealthsimple boasts more than 15 billion CAD in Assets Under Management (AUM). They have been operating for more than 7 years and employs more than 600 folks. The majority shareholder is the admired public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the very first no-fees digital brokerage to operate in Canada.
But How Can I Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it easy to deposit to your new account. Simply connect a chequing or savings account with your Trade account, then add money to your account in simply a couple of clicks. Deposits from your bank to Wealthsimple typically take only a few days. Funds can also be moved back to your chequing or savings accounts by using the same method.
What Additional Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is equivalent to Interac 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 free. It’s pitched as easy, accurate and always free tax filing.
Wealthsimple Spend – A combination pre paid visa and savings product that lets you to recieve 1% cashback on all your purchases, as well as earn a very competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform that offers a bunch of different courses on different topics such as saving, investments, crypto, home buying and much more.
Every one of the mentioned features, along with Wealthsimple Trade can be accessed in the app and at the website with a single login.
But How do I Get Started With Wealthsimple Trade?
Click here to create your Wealthsimple Trade account. As a special registration bonus offer for our audience you’ll 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 Questions Concerning Wealthsimple Layoffs?
If this review hasn’t answered all of your questions, and you’re searching for additional information about Wealthsimple Layoffs, check out the Wealthsimple website to find answers to every one of your questions.