What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian online Financial, stocks plus crypto trading web app that differentiates itself from similar apps by charging absolutely no fees.
A online financial services company launched in Fall twenty fourteen exclusively as a robo advisor algorithmic trading app called Wealthsimple Invest, it has improved significantly over the last eight years to also feature Wealthsimple Trade, a zero fee discount brokerage service.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade allows investors trade single stocks and ETFs without having to pay commissions. The exception is when trading stocks and ETFs which are displayed in USD. In this case, they do charge a currency conversion fee when buying and selling. However, gone are the days of paying more than $7 per each trade with discount brokerages as was normal only a few years past.
How Much in Funds Will I Need to Have in Order to Start Investing on Wealthsimple Trade?
Wealthsimple is cool such that they allow Canadians to make a minimum deposit of just $1. Most alternative banks and discount brokerages have sizeable minimum deposit amounts of 1K-$5,000. This makes it difficult for the normal investor to get started. With Wealthsimple Trade, you won’t have to already be wealthy to start trading stocks and ETFs.
So Does Wealthsimple Trade Have Registered Accounts?
Of course. Wealthsimple Trade has available CRA registered and non-registered accounts. One may choose between both RRSP and TFSA account types during the setup wizard.
Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade offers a convenient mobile app offered on both IOS and also Android. The smartphone app makes the registration phase and also the trading of stocks and ETFs simple.
Is Wealthsimple Trade Safe?
Definitely. Wealthsimple Trade is secure. Wealthsimple has over 15 billion Canadian in Assets Under Management . These folks have been in business for more than 7 years and currently employs more than 600 people. The main owner is the large public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the first no-fees online discount brokerage to operate in Canada.
How Do I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it quite easy to deposit to an account. Just connect the app to a chequing or savings account to your Trade account, and then add funds to your account in only a few steps. Deposits from your bank to Wealthsimple normally take just a couple of days. Funds can just as easily be moved back to a chequing or savings accounts using the exact same steps.
Which Other Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An alternative to Interac e-Transfers which allows you to quickly and easily send money 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 advertised to be easy, accurate and always totally free tax filing.
Wealthsimple Spend – A combination prepaid debit card and savings account which allows one to earn 1% cashback on all your spending, 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 offers a ton of online courses on different topics such as saving, investments, crypto, home buying and more.
Each of the above products, including Wealthsimple Trade can be accessed inside the mobile app or on their website with a single login.
But How do I Start With Wealthsimple Trade?
Click here to create your Wealthsimple Trade account. For an exclusive signup bonus offer to our audience you’ll receive the cash value of a random share valued at $25 up to $4,500 Canadian when you fund your account.
What if I Still Have Additional Questions Concerning Questwealth Vs Wealthsimple?
If this review didn’t answered each of your questions, and you’re still browsing for additional specific info about Questwealth Vs Wealthsimple, go to the Wealthsimple site to find answers to every one of your questions.