What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian web based Financial, stocks plus crypto trading platform that distinguishes itself from its competitors by charging absolutely no fees.
A leading Canadian online financial services business launched in the Autumn twenty fourteen originally as a robo advisor trading app named Wealthsimple Invest, it has changed significantly over the past 8 years to also include Wealthsimple Trade, a zero fees discount brokerage platform.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade lets Canadian investors to trade individual stocks and ETFs without paying fees. The exception is when you’re trading ETFs and stocks that are listed in USD currency. In this case, they charge a currency conversion fee when buying and selling. But, past us are the times of paying $7-12 per each trade with digital discount brokerages as was normal only a few years ago.
How Much Money do I Need to Have in Order to Get Started With Wealthsimple Trade?
Wealthsimple is awesome such that they will allow investors to make a minimum deposit of only $1. Most alternative banks and brokerages have quite large minimum deposit amounts of $1,000-5k. This makes it difficult for the everyday investor to start investing. With Wealthsimple Trade, one doesn’t have to already be wealthy to start trading stocks and ETFs.
Does Wealthsimple Trade Have Registered Accounts?
They do. Wealthsimple Trade has both registered and non-registered account types. You are free to select both RRSP and TFSA accounts during the setup phase.
But Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade offers a modern mobile app available on both IOS and also Google Play. The app makes the registration phase and also trading of stocks and ETFs truly easy.
But Is Wealthsimple Trade Legit?
Of course. Wealthsimple Trade is safe. Wealthsimple has in excess of 15 billion CAD in Assets Under Management . They have been in business for more than 7 years and also currently employs more than 600 folks. The controlling owner is the publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the first no-fees digital discount brokerage operating in Canada.
How Does One Fund a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it so simple to add funds to your new account. Simply connect a chequing or savings account with your Trade account, and fund your account in just a couple of steps. Deposits from banks to Wealthsimple typically take just a few days. Funds can the same way can be moved back to your chequing or savings accounts with the same steps.
What Other Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – An equivalent to Interac e-Transfers that allow you to quickly and efficiently send money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to get ready for tax year and submit your taxes online for free. It’s pitched to be easy, accurate and always totally free income tax filing.
Wealthsimple Spend – A combination pre paid debit card and savings product that allows one to earn 1% cashback on your everyday purchases, as well as earn a very competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance platform that includes a ton of online courses on topics like saving, investments, crypto, home buying and more.
Each of the above products, along with Wealthsimple Trade may be found on the app and at the site with a single login.
So How Can I Begin Using Wealthsimple Trade?
Click here to signup for a new Wealthsimple Trade account. As a special registration bonus for our readers you will receive the equivalent cash value of a Canadian stock worth $25 up to $4,500 CAD as soon as you fund your account.
But What if I Still Have Additional Questions Related to Linkedin Wealthsimple?
If this review didn’t answered each of your questions, and you’re still searching for additional specific information relating to Linkedin Wealthsimple, go to the Wealthsimple site for answers to every one of your questions.