What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian web based investing, securities plus crypto trading platform that sets itself apart from its competitors by charging absolutely no fees.
A online financial services business launched in Autumn 2014 originally as a robo-advisor algorithmic trading app named Wealthsimple Invest, it has improved considerably over the past eight years to feature Wealthsimple Trade, a zero fee discount brokerage app.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade allows consumers trade single stocks and ETFs without having to pay commissions. The exception is when trading stocks which are denominated in US Dollars. In which case, they will charge a currency conversion fee both when buying and selling. However, behind us are the times of having to pay $7-12 for each trade with discount brokerages as was expected only a couple years ago.
Exactly How Much Money do I Need to Have in Order to Get Started With Wealthsimple Trade?
Wealthsimple is special in that they will allow Canadian investors to make a minimum deposit of just $1. Most traditional banks and discount brokerages have sizeable initial deposit amounts of 1k-5k. This makes it difficult for the everyday investor to start investing. With Wealthsimple Trade, you won’t have to be wealthy to get started with trading stocks and ETFs.
Does Wealthsimple Trade Offer RRSP Accounts?
They do. Wealthsimple Trade offers registered and non-CRA-registered account types. One are free to select between both RRSP and TFSA account types during the setup wizard.
Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade offers a modern mobile app that is available on iOS and also Google Play. The mobile app makes the registration steps and trading of stocks and ETFs painless.
Is Wealthsimple Trade Secure?
Definitely. Wealthsimple Trade is secure. Wealthsimple has in excess of 15 billion Canadian of Assets Under Management . These folks have been operating for more than 7 years and now employs more than 600 folks. The primary shareholder is the admired public Canadian corporation Power Corp of Canada. Weapthsimple Trade is the first no-fees online discount brokerage to operate in Canada.
But How Do I Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it quite easy to add money to your account. Simply connect a chequing or savings account to your Trade account, and add money to your account in simply a couple of clicks. Deposits from financial institutions to Wealthsimple normally take a few days. Funds can the same way can be moved back to your chequing or savings accounts with the same method.
What Additional Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – An alternative to E-transfers which allow you to quickly and simply send cash to friends and family in Canada.
Wealthsimple Tax – Everything you need to prepare for this tax season and file your tax return online free. It’s advertised to be easy, accurate and always totally free tax filing.
Wealthsimple Spend – A combination pre paid debit card and savings product which lets one to earn 1% cashback on all your everyday spending, and also get a very competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance platform which includes a ton of courses on topics like saving, investments, crypto, home buying and more.
Each of the listed features, including Wealthsimple Trade can be accessed within the app and on their site with a single login.
How Should I Begin With Wealthsimple Trade?
Click here to register for a Wealthsimple Trade account. For a special registration bonus offer for our audience you’ll get the equivalent cash value of a Canadian stock worth $25 up to $4,500 CAD as soon as you deposit to your account.
What if I Still Have Questions Related to Questrade Vs Wealthsimple Reddit?
If this review hasn’t answered each of your questions, and you’re still searching for additional specific info about Questrade Vs Wealthsimple Reddit, visit the Wealthsimple website to find answers to all your questions.