What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian web based investing, stocks plus crypto trading platform that sets itself apart from similar apps by charging absolutely no fees.
A online financial services business founded in the Autumn of twenty fourteen originally as a robo-advisor trading platform called Wealthsimple Invest, it has evolved considerably over the last 8 years to also feature Wealthsimple Trade, a zero fees discount brokerage service.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade allows Canadian investors to trade individual stocks and ETFs without needing to pay any fees. The exception to this is when trading securities that are listed in USD. In this case, they will charge a currency conversion fee both when buying and selling. However, past us are the days of paying more than $7 per trade with discount brokerages as was expected a couple years past.
Exactly How Much Cash Will I Need to Start Investing With Wealthsimple Trade?
Wealthsimple is unique such that they allow investors to make a minimum deposit of only $1. Most alternative banks and brokerages have large min deposit amounts of 1K-5K. This makes it tough for the normal new investor to get started. With Wealthsimple Trade, you won’t need to be wealthy to start trading stocks and ETFs.
Does Wealthsimple Trade Offer RRSP Accounts?
It does. Wealthsimple Trade has registered and non-CRA-registered accounts. One are able to choose both RRSP and TFSA account types during the setup process.
Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade offers a convenient mobile app that is available to download on both Apple and Android. The smartphone app makes the signup process and also the trading of stocks and ETFs truly a breeze.
So Is Wealthsimple Trade Secure?
. Wealthsimple Trade is secure. Wealthsimple has more than 15 billion CAD of Assets Under Management (AUM). They have been expanding for more than 7 years and currently employs over 600 people. The primary owner is the respected publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade was the very first no-fees digital discount brokerage to operate in Canada.
So How Does One Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it so straight forward to add money to your new account. Simply connect the app to a chequing or savings account with your Trade account, and then add funds to your account in just a couple of steps. Deposits from financial institutions to Wealthsimple typically take only a couple of days. Funds can the same way can be withdrawn a chequing or savings accounts by using the same method.
Which Other Benefits and Products Are Available?
Wealthsimple Cash – This is equivalent to E-transfers that allows one to quickly and efficiently transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you require to get ready for tax year and submit your taxes online free. It’s described to be simple, accurate and always totally free tax filing.
Wealthsimple Spend – A combination prepaid visa and savings account that allows one to get 1% cashback on all your purchases, as well as earn a very competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform that includes a ton of courses on different topics such as saving, investments, crypto, real estate and much more.
Every one of the above products, along with Wealthsimple Trade may be found on the mobile app or on the site with one login.
So How Can I Begin With Wealthsimple Trade?
Click here to signup for a new Wealthsimple Trade account. For a special registration bonus offer for our readers you’ll receive the equivalent cash value of a Canadian stock valued at up to $4,500 CAD when you add funds to your account.
But What if I Still Have Additional Questions Concerning Wealthsimple Lira?
If this article still hasn’t given you the answers to each of your questions, and you’re browsing for more specific facts about Wealthsimple Lira, visit the Wealthsimple site for answers to all your questions.