What is Wealthsimple?
Wealthsimple is a simple to use Canadian web based Financial, stocks and crypto trading platform that sets itself apart from similar apps by charging no fees.
A fintech company founded in the Autumn of twenty fourteen originally as a robo advisor algorithmic trading platform named Wealthsimple Invest, it has evolved considerably over the last eight years to feature Wealthsimple Trade, a no fee discount brokerage app.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade allows Canadian consumers to trade stand alone stocks and also ETFs without paying any fees. The exception is when you’re trading securities which are listed in USD currency. In which case, they do charge a nominal currency conversion fee when buying and selling. However, gone are the days of paying $7-12 per trade with online discount brokerages as was normal a few years ago.
Exactly How Much Money do I Need to Have in Order to Get Started on Wealthsimple Trade?
Wealthsimple is unique such that they allow investors to make a minimum deposit of only $1. Most alternative banks and discount brokerages have large min deposit amounts of $1,000-$5000. This makes it hard for the every day investor to get started. With Wealthsimple Trade, you won’t need to be wealthy to begin trading stocks and ETFs.
So Does Wealthsimple Trade Have Registered Accounts?
They do. Wealthsimple Trade offers CRA registered and non-registered account types. You may select between both RRSP and TFSA account types in the setup process.
But Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade has a easy to use mobile app that is available to download on IOS and also Android. The smartphone app makes the signup phase and the trading of stocks and ETFs incredibly easy.
So Is Wealthsimple Trade Secure?
For sure. Wealthsimple Trade is legit. Wealthsimple reports over 15 billion Canadian in Assets Under Management . These folks have been operating for more than 7 years and employs over 600 folks. The controlling owner is the large public Canadian corporation Power Corp of Canada. Weapthsimple Trade was the very first no-fees online brokerage to operate in Canada.
How Does One Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it quite straight forward to fund an account. Simply connect to a chequing or savings account to your Trade account, and fund your account in just a few clicks. Deposits from your bank to Wealthsimple usually take only a couple of days. Funds can also be withdrawn a chequing or savings accounts using the same process.
Which Additional Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is alternative to Interac e-transfers that allows anyone to quickly and easily transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to prepare for this tax year and file your tax return online for free. It’s advertised as simple, accurate and always free tax filing.
Wealthsimple Spend – A hybrid prepaid visa and savings product that lets you to earn 1% cashback on your spending, and also get a very competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform which offers a ton of different online courses on saving, investments, crypto, home buying and more.
All of the listed features, along with Wealthsimple Trade can be found on the mobile app and from their site with your Wealthsimple login.
But How Can I Get Started With Wealthsimple Trade?
Click here to setup a Wealthsimple Trade account. For an exclusive registration bonus offer for our readers you will receive the equivalent cash value of a random stock worth up to $4,500 Canadian as soon as you make an initial deposit to your account.
But What if I Still Have Questions About Shiba Inu Wealthsimple?
If this article still hasn’t given you the answers to all of your questions, and you’re searching for more answers relating to Shiba Inu Wealthsimple, check out the Wealthsimple website for answers to all your questions.