What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian web based Financial, stock plus crypto trading app that sets itself apart from other apps by charging no fees.
A online financial services business launched in Fall twenty fourteen originally as a robo-advisor algorithmic trading platform called Wealthsimple Invest, it has improved significantly over the past 8 years to include Wealthsimple Trade, a zero fees discount brokerage service.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade lets consumers trade both individual stocks and ETFs without having to pay commissions. The exception to this is when trading securities which are denominated in USD. In which case, they do charge a small currency conversion fee both when buying and selling. However, gone are the times of having to pay more than $7 for each trade with discount brokerages as was expected a few years past.
How Much Cash do I Need in Order to Start Investing With Wealthsimple Trade?
Wealthsimple is awesome in that they will allow Canadian investors to make a minimum deposit of just $1. Many traditional banks and discount brokerages have sizeable min deposit amounts of 1k-$5000. This makes it difficult for the normal investor to start. With Wealthsimple Trade, you won’t have to be wealthy to begin trading stocks and ETFs.
But Does Wealthsimple Trade Have TFSA Accounts?
They do. Wealthsimple Trade has available both registered and non-registered accounts. You may choose between both RRSP and TFSA accounts in the setup wizard.
Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade has a modern mobile app that is available on Apple and Google Play. The app makes the registration steps and also the trading of stocks and ETFs incredibly easy.
So Is Wealthsimple Trade Safe?
Yes. Wealthsimple Trade is legit. Wealthsimple has more than 15 billion CAD in Assets Under Management (AUM). They have been in business for more than 7 years and also at this time employs about 600 Canadians. The majority shareholder is the large publicly traded Canadian entity Power Corp of Canada. Weapthsimple Trade is the very first no-fees digital discount brokerage to operate in Canada.
How Do I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it so straight forward to fund your account. Simply connect the app to a chequing or savings account to your Trade account, and add money to your account in just a few steps. Deposits from banks to Wealthsimple usually take a few days. Funds can the same way can be withdrawn a chequing or savings account by using the same steps.
Which Other Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is equivalent to e-Transfers that allows anyone to quickly and efficiently transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to get ready for tax season and submit your tax return online for free. It’s pitched as simple, accurate and always free tax filing.
Wealthsimple Spend – A hybrid prepaid debit card and savings product that allows one to earn 1% cashback on all your purchases, as well as earn a competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform which offers a variety of different online courses on topics like saving, investing, crypto, mortgages and much more.
Each of the listed products, along with Wealthsimple Trade can be accessed in the app and at their site with your Wealthsimple login.
So How Should I Get Started With Wealthsimple Trade?
Click here to signup for a Wealthsimple Trade account. As an exclusive registration bonus to our audience you’ll get the cash value of a Canadian stock worth up to $4,500 Canadian as soon as you fund your account.
So What if I Still Have Questions Concerning Wealthsimple Returns?
If this blog post didn’t answered each of your questions, and you’re searching for more info about Wealthsimple Returns, go to the Wealthsimple website to find answers to all your questions.