What is Wealthsimple?
Wealthsimple is a simple to use Canadian online Financial, securities and crypto trading platform that distinguishes itself from other apps by charging no fees.
A Toronto, Ontario based fintech business launched in Fall of twenty fourteen originally as a robo advisor trading app named Wealthsimple Invest, it has improved considerably over the past 8 years to also include Wealthsimple Trade, a zero fee discount brokerage service.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade lets investors to trade single stocks and ETFs without needing to pay fees. The exception is when trading securities that are denominated in US Dollars. In which case, they do charge a nominal currency conversion fee when buying and selling. However, past us are the times of paying $7-12 per trade with discount brokerages as was the case only a few years past.
Exactly How Much in Funds Will I Need to Get Started on Wealthsimple Trade?
Wealthsimple is cool such that they allow Canadians to make a minimum deposit of just $1. The majority of alternative banks and brokerages have quite large minimum deposit amounts of $1000-$5,000. This makes it difficult for the common investor to start investing. With Wealthsimple Trade, you don’t have to already be wealthy to get started with trading stocks and ETFs.
So Does Wealthsimple Trade Have TFSA Accounts?
It does. Wealthsimple Trade has CRA registered and non-registered account types. One are free to choose both RRSP and TFSA account types in the setup wizard.
Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade offers a convenient mobile app available on both IOS and Google Play. The mobile app makes the signup steps and the trading of stocks and ETFs truly easy.
Is Wealthsimple Trade Legit?
Definitely. Wealthsimple Trade is safe. Wealthsimple reports over 15 billion Canadian of Assets Under Management . This company has been operating for more than 7 years and right now employs about 600 Canadians. The main owner is the publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade is the first no-fee online brokerage operating in Canada.
But How Can I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it very simple to fund an account. Just connect a chequing or savings account with your Trade account, then add money to your account in only a couple of steps. Deposits from banks to Wealthsimple usually take a couple of days. Funds can just as easily be moved to your chequing or savings accounts through the exact same method.
Which Additional Benefits and Products Are Available?
Wealthsimple Cash – An equivalent to Interac E-Transfers that allows you to quickly and efficiently send money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for tax season and submit your taxes online for free. It’s advertised as simple, accurate and always totally free tax filing.
Wealthsimple Spend – A hybrid pre paid debit card and savings account which lets one to earn 1% cashback on all your spending, and also get a very competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance platform that includes a ton of different courses on saving, investments, crypto, mortgages and more.
Each of the mentioned products, including Wealthsimple Trade can be found on the mobile app or from the website with a single login.
So How Should I Begin Using Wealthsimple Trade?
Click here to register for your Wealthsimple Trade account. For an exclusive registration bonus offer to our audience you’ll receive the equivalent cash value of a random share worth $25 up to $4,500 Canadian when you add funds to your account.
What if I Still Have Additional Questions Related to Wealthsimple Qr Code?
If this blog post hasn’t given you the answers to all of your questions, and you’re searching for further answers relating to Wealthsimple Qr Code, visit the Wealthsimple site to get answers to all your questions.