What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian online Financial, stocks and crypto trading app that distinguishes itself from other apps by charging no fees.
A leading Canadian online financial services business founded in the Fall of 2014 exclusively as a robo-advisor automated trading app named Wealthsimple Invest, it has improved significantly over the previous eight years to include Wealthsimple Trade, a zero fee discount brokerage service.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade allows investors trade both stand alone stocks and ETFs without needing to pay any commissions. The exception to this is when you’re trading ETFs and stocks which are listed in USD. In which case, they do charge a small currency conversion fee both when buying and selling. But, past us are the times of paying more than $7 for each trade with discount brokerages as was normal just a couple years past.
How Much Cash do I Need to Have to Start Investing With Wealthsimple Trade?
Wealthsimple is unique in that they will allow Canadian investors to make a minimum deposit of only $1. Most alternative banks and brokerages have quite large min deposit amounts of $1,000-$5000. This makes it tough for the every day new investor to start investing. With Wealthsimple Trade, you don’t need to already be wealthy to start trading stocks and ETFs.
Does Wealthsimple Trade Offer Registered Accounts?
Of course. Wealthsimple Trade has registered and non-CRA-registered account types. You can select both RRSP and TFSA accounts during the setup phase.
But Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade offers a convenient mobile app available to download on IOS and Android. The smartphone app makes the enrollment process and trading of stocks and ETFs incredibly easy.
So Is Wealthsimple Trade Legit?
Yes. Wealthsimple Trade is trustworthy. Wealthsimple has more than 15 billion Canadian in Assets Under Management (AUM). They have been doing business for more than 7 years and also at this time employs roughly 600 people. The main owner is the large public Canadian corporation Power Corp of Canada. Weapthsimple Trade is the very first no-fees online brokerage to operate in Canada.
So How Can I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it quite simple to deposit to your new account. Just connect the app to a chequing or savings account to your Trade account, and then add money to your account in just a few steps. Deposits from your bank to Wealthsimple normally take just a couple of days. Funds can also be moved back to your chequing or savings account with the same method.
Which Additional Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – An alternative to Interac E-Transfers that allows anyone to quickly and easily send cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to prepare for tax year and file your tax return online free. It’s advertised as simple, accurate and always totally free tax return filing.
Wealthsimple Spend – A hybrid prepaid debit card and savings product which lets one to earn 1% cashback on your purchases, as well as get a competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform which offers a variety of courses on saving, investments, crypto, home buying and more.
Every one of the mentioned features, including Wealthsimple Trade may be accessed inside the mobile app or from the site with your Wealthsimple login.
But How do I Get Started With Wealthsimple Trade?
Click here to setup a Wealthsimple Trade account. For a special registration bonus offer to our audience you will receive the cash value of a share worth up to $4,500 CAD once you fund your account.
So What if I Still Have Additional Questions Related to Questwealth Vs Wealthsimple Reddit?
If this review hasn’t answered each of your questions, and you’re looking for further info about Questwealth Vs Wealthsimple Reddit, go to the Wealthsimple website for answers to all your questions.