What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian online Financial, securities plus crypto trading app that distinguishes itself from its competitors by charging absolutely no fees.
A leading Canadian online financial services company launched in Fall of twenty fourteen exclusively as a robo-advisor trading app named Wealthsimple Invest, it has grown substantially over the past 8 years to also feature Wealthsimple Trade, a no fee discount brokerage platform.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade lets Canadian investors to trade individual stocks and ETFs without having to pay any fees. The exception to this is when trading securities which are displayed in USD currency. In that case, they do charge a nominal currency conversion fee when buying and selling. However, gone are the times of paying Upwards of $7 per trade with discount brokerages as was the norm only a couple years ago.
Exactly How Much Cash do I Need in Order to Get Started With Wealthsimple Trade?
Wealthsimple is cool in that they will allow Canadians to make a minimum deposit of only $1. The majority of alternative banks and brokerages have sizeable initial deposit amounts of 1k-$5000. This makes it tough for the normal new investor to start investing. With Wealthsimple Trade, you won’t have to be wealthy to get started with trading stocks and ETFs.
Does Wealthsimple Trade Offer TFSA Accounts?
They do. Wealthsimple Trade has available registered and non-CRA-registered account types. One can choose both RRSP and TFSA account types during the setup process.
Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade has a easy to use mobile app that is offered to download on both Apple and also Android. The mobile app makes the enrollment process and trading of stocks and ETFs super painless.
Is Wealthsimple Trade Legit?
Definitely. Wealthsimple Trade is legit. Wealthsimple boasts more than 15 billion CAD in Assets Under Management (AUM). This company has been in business for more than 7 years and currently employs about 600 Canadians. The primary shareholder is the large publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the very first no-fee online brokerage to operate in Canada.
But How Do I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it very simple to add funds to an account. Just connect to a chequing or savings account to your Trade account, and then add funds to your account in just a few steps. Deposits from banks to Wealthsimple normally take just a couple of days. Funds can also be withdrawn a chequing or savings accounts by using the exact same steps.
What Other Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is alternative to Interac E-Transfers that allows one to quickly and simply send cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for this tax year and submit your taxes online free. It’s described to be simple, accurate and always totally free income tax filing.
Wealthsimple Spend – A hybrid pre paid visa and savings account that lets you to recieve 1% cashback on your everyday purchases, and also earn a very competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform that includes a variety of different online courses on different topics such as saving, investments, crypto, home buying and much more.
Each of the mentioned features, including Wealthsimple Trade may be accessed within the app and at their site with a single login.
How do I Start With Wealthsimple Trade?
Click here to create a Wealthsimple Trade account. As an exclusive signup bonus offer to our readers you will get the equivalent cash value of a random stock worth $25 up to $4,500 CAD as soon as you add funds to your account.
What if I Still Have Questions Related to Wealthsimple Raises?
If this article didn’t answered all of your questions, and you’re still looking for more information about Wealthsimple Raises, go to the Wealthsimple site for answers to each your questions.