What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian online Financial, stock and crypto trading web app that distinguishes itself from other apps by charging no fees.
A Toronto, Ontario based fintech company launched in the Fall twenty fourteen originally as a robo-advisor algorithmic automated trading app named Wealthsimple Invest, it has changed substantially over the previous 8 years to include Wealthsimple Trade, a no fees discount brokerage platform.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade allows consumers trade stand alone stocks and ETFs without paying fees. The exception to this is when trading stocks which are denominated in USD currency. In that case, they will charge a nominal currency conversion fee both when buying and selling. However, behind us are the times of paying Upwards of $7 for each trade with discount brokerages as was common just a few years ago.
How Much in Funds Will I Need in Order to Get Started on Wealthsimple Trade?
Wealthsimple is unique such that they will allow new customers to make a minimum deposit of only $1. The majority of alternative banks and brokerages have sizeable initial deposit amounts of $1,000-$5000. This makes it tough for the normal new investor to start. With Wealthsimple Trade, one doesn’t have to be wealthy to get started with trading stocks and ETFs.
So Does Wealthsimple Trade Have Registered Accounts?
They do. Wealthsimple Trade has registered and non-registered accounts. One are able to choose between both RRSP and TFSA accounts in the setup wizard.
So Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade offers a well designed mobile app available on both IOS and also Android. The app makes the signup steps and trading of stocks and ETFs truly easy.
So Is Wealthsimple Trade Trustworthy?
Most definitely. Wealthsimple Trade is safe. Wealthsimple has over 15 billion Canadian in Assets Under Management . They have been expanding for more than 7 years and employs more than 600 folks. The majority owner is the large public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the first no-fees digital brokerage to operate in Canada.
So How Do I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it quite straight forward to add funds to a new account. Just connect the app to a chequing or savings account with your Trade account, and fund your account in simply a couple of steps. Deposits from banks to Wealthsimple usually take only a few days. Funds can the same way can be moved back to your chequing or savings accounts with the same steps.
What Other Features and Products Are Available?
Wealthsimple Cash – This is equivalent to E-transfers which allows anyone to quickly and efficiently transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you need to get ready for this tax season and submit your taxes online free. It’s described to be simple, accurate and always totally free income tax filing.
Wealthsimple Spend – A hybrid prepaid debit card and savings product that lets you to earn 1% cashback on all your everyday spending, and also get a very competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform that offers a variety of different courses on saving, investments, crypto, mortgages and more.
Every one of the listed features, including Wealthsimple Trade may be accessed within the mobile app and on their site with your Wealthsimple login.
How Can I Get Started Using Wealthsimple Trade?
Click here to signup for a Wealthsimple Trade account. As a special registration bonus for our readers you’ll receive the cash value of a share valued at up to $4,500 Canadian as soon as you make an initial deposit to your account.
But What if I Still Have Additional Questions Related to Wealthsimple Salary?
If this article didn’t given you the answers to each of your questions, and you’re still browsing for more information about Wealthsimple Salary, visit the Wealthsimple site to get answers to every one of your questions.