What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian online Financial, stocks and crypto trading app that differentiates itself from similar apps by charging no fees.
A leading Canadian fintech business founded in Fall twenty fourteen originally as a robo-advisor algorithmic automated trading app called Wealthsimple Invest, it has grown considerably over the previous 8 years to also include Wealthsimple Trade, a no fee discount brokerage app.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade lets consumers to trade both individual stocks and also ETFs without having to pay any fees. The exception is when trading ETFs and stocks which are displayed in USD. In which case, they charge a currency conversion fee both when buying and selling. However, past us are the times of paying Upwards of $7 per trade with discount brokerages as was normal just a few years ago.
How Much Money Will I Need to Start Investing on Wealthsimple Trade?
Wealthsimple is special in that they will allow Canadians to make a minimum deposit of just $1. Many traditional banks and brokerages have sizeable initial deposit amounts of $1,000-$5000. This makes it impossible for the common new investor to start. With Wealthsimple Trade, one doesn’t have to already be wealthy to start trading stocks and ETFs.
Does Wealthsimple Trade Have TFSA Accounts?
Yes. Wealthsimple Trade has both CRA registered and non-registered account types. You can select both RRSP and TFSA account types during the setup phase.
But Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade has a well designed mobile app available on both IOS and also Android. The smartphone app makes the signup process and also the trading of stocks and ETFs truly a breeze.
Is Wealthsimple Trade Legit?
For sure. Wealthsimple Trade is legit. Wealthsimple boasts in excess of 15 billion CAD in Assets Under Management . they’ve been operating for more than 7 years and at this time employs over 600 Canadians. The majority shareholder is the admired publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade is the very first no-fee digital discount brokerage to operate in Canada.
How Does One Fund a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it simple to add funds to a new account. Just connect to a chequing or savings account with your Trade account, then add funds to your account in simply a couple of steps. Deposits from financial institutions to Wealthsimple normally take only a couple of days. Funds can the same way can be withdrawn your chequing or savings accounts by using the same method.
Which Other Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An equivalent to Interac e-Transfers that allow anyone to quickly and efficiently transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for tax season and submit your tax return online free. It’s pitched as easy, accurate and always free tax return filing.
Wealthsimple Spend – A hybrid prepaid debit card and savings product that lets one to recieve 1% cashback on all your spending, and also earn a very competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform which offers a ton of different online courses on saving, investing, crypto, mortgages and much more.
Every one of the listed products, along with Wealthsimple Trade may be accessed on the app or at the site with your Wealthsimple login.
But How do I Start With Wealthsimple Trade?
Click here to create a new Wealthsimple Trade account. As a special signup bonus to our audience you will receive the equivalent cash value of a random share worth up to $4,500 Canadian when you add funds to your account.
So What if I Still Have Questions Related to Wealthsimple Quora?
If this review hasn’t answered each of your questions, and you’re searching for more information about Wealthsimple Quora, visit the Wealthsimple website to find answers to all your questions.