What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian web based Financial, securities plus crypto trading platform that sets itself apart from the competition by charging absolutely no fees.
A leading Canadian fintech business launched in the Fall of twenty fourteen exclusively as a robo advisor trading platform called Wealthsimple Invest, it has changed significantly over the previous 8 years to also feature Wealthsimple Trade, a zero fee discount brokerage platform.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade allows investors to trade single stocks and ETFs without paying any commissions. The exception is when you’re trading ETFs and stocks that are displayed in US Dollars. In which case, they do charge a currency conversion fee when buying and selling. But, behind us are the times of paying $7-12 for each trade with discount brokerages as was the norm only a few years ago.
Exactly How Much Money Will I Need to Have in Order to Begin Investing on Wealthsimple Trade?
Wealthsimple is special such that they allow investors to make a minimum deposit of only $1. The majority of alternative banks and brokerages have large initial deposit amounts of 1k-5K. This makes it difficult for the everyday investor to start investing. With Wealthsimple Trade, one doesn’t have to already be wealthy to get started with trading stocks and ETFs.
Does Wealthsimple Trade Have Registered Accounts?
Of course. Wealthsimple Trade has both CRA registered and non-CRA-registered accounts. One may select both RRSP and TFSA account types during the setup process.
So Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade offers a convenient mobile app that is offered on IOS and Google Play. The mobile app makes the registration process and also trading of stocks and ETFs very painless.
But Is Wealthsimple Trade Legit?
Definitely. Wealthsimple Trade is legit. Wealthsimple reports in excess of 15 billion Canadian in Assets Under Management (AUM). This company has been in business for more than 7 years and currently employs more than 600 Canadians. The controlling shareholder is the public Canadian company Power Corp of Canada. Weapthsimple Trade is the very first no-fee digital brokerage operating in Canada.
But How Can I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it easy to add funds to your account. Just connect the app to a chequing or savings account to your Trade account, and add money to your account in just a few steps. Deposits from banks to Wealthsimple typically take only a few days. Funds can the same way can be moved back to a chequing or savings account with the same method.
What Additional Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is equivalent to e-transfers that allow one to quickly and simply transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for tax season and submit your tax return online for free. It’s pitched to be easy, accurate and always totally free income tax filing.
Wealthsimple Spend – A hybrid pre paid visa and savings product that lets you to get 1% cashback on your spending, and also earn a competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform that offers a variety of different online courses on topics like saving, investing, crypto, real estate and much more.
Every one of the listed products, including Wealthsimple Trade may be found in the mobile app or at the website with a single login.
But How Should I Begin With Wealthsimple Trade?
Click here to create a new Wealthsimple Trade account. As a special signup bonus for our readers you’ll get the cash value of a share worth $25 up to $4,500 Canadian once you deposit to your account.
So What if I Still Have Additional Questions Concerning Questrade Vs Wealthsimple Robo Advisor?
If this article still hasn’t given you the answers to each of your questions, and you’re still searching for further specific information about Questrade Vs Wealthsimple Robo Advisor, go to the Wealthsimple site for answers to every one of your questions.