What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian web based Financial, securities and crypto trading web app that distinguishes itself from other apps by charging absolutely no fees.
A Toronto, Ontario based online financial services company launched in the Autumn of 2014 originally as a robo-advisor automated trading app called Wealthsimple Invest, it has improved substantially over the last 8 years to include Wealthsimple Trade, a zero fee discount brokerage platform.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade lets Canadian consumers trade both individual stocks and also ETFs without needing to pay fees. The exception is when you’re trading stocks that are listed in USD currency. In which case, they do charge a currency conversion fee when buying and selling. But, past us are the days of having to pay $7-12 per each trade with discount brokerages as was expected a couple years past.
Exactly How Much in Funds Will I Need to Start Investing With Wealthsimple Trade?
Wealthsimple is unique such that they allow investors to make a minimum deposit of just $1. Many alternative banks and brokerages have sizeable min deposit amounts of $1,000-5k. This makes it tough for the every day investor to start. With Wealthsimple Trade, one doesn’t need to be wealthy to start trading stocks and ETFs.
But Does Wealthsimple Trade Offer TFSA Accounts?
Of course. Wealthsimple Trade has available both CRA registered and non-CRA-registered account types. You may select both RRSP and TFSA account types in the setup phase.
Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade offers a modern mobile app available on Apple and also Google Play. The smartphone app makes the registration steps and also trading of stocks and ETFs super simple.
But Is Wealthsimple Trade Secure?
Yes. Wealthsimple Trade is trustworthy. Wealthsimple reports more than 15 billion CAD of Assets Under Management . These folks have been in business for more than 7 years and at this time employs more than 600 Canadians. The majority shareholder is the large publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade is the very first no-fee online discount brokerage to operate in Canada.
How Do I Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it quite simple to deposit to a new account. Just connect a chequing or savings account with your Trade account, and add money to your account in only a couple of steps. Deposits from banks to Wealthsimple normally take just a few days. Funds can just as easily be moved to your chequing or savings accounts with the exact same steps.
What Additional Features and Products Are Available?
Wealthsimple Cash – An alternative to Interac E-transfers that allows anyone to quickly and simply transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to get ready for tax season and file your tax return online free. It’s pitched as easy, accurate and always free tax filing.
Wealthsimple Spend – A combination pre paid visa and savings account that allows one to earn 1% cashback on all your purchases, as well as earn a competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance platform which includes a bunch of online courses on topics like saving, investments, crypto, real estate and more.
Each of the above products, along with Wealthsimple Trade may be accessed on the mobile app and on their website with one login.
So How Can I Begin With Wealthsimple Trade?
Click here to setup your Wealthsimple Trade account. For a special registration bonus offer for our readers you will get the equivalent cash value of a stock valued at up to $4,500 Canadian once you deposit to your account.
So What if I Still Have Questions About Wealthsimple Quebec Tax?
If this review didn’t given you the answers to each of your questions, and you’re searching for additional specific answers about Wealthsimple Quebec Tax, check out the Wealthsimple website for answers to all your questions.