What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian digital Financial, stocks plus crypto trading web app that differentiates itself from the competition by charging absolutely no fees.
A Toronto, Ontario based online financial services company founded in Fall of twenty fourteen originally as a robo-advisor trading platform named Wealthsimple Invest, it has changed significantly over the last 8 years to also include Wealthsimple Trade, a zero fee discount brokerage platform.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade lets consumers trade stand alone stocks and ETFs without having to pay commissions. The exception is when you’re trading stocks which are denominated in US Dollars. In that case, they do charge a nominal currency conversion fee both when buying and selling. But, gone are the times of having to pay more than $7 per each trade with digital discount brokerages as was the norm just a few years ago.
Exactly How Much in Funds do I Need to Have to Start Investing on Wealthsimple Trade?
Wealthsimple is special in that they will allow investors to make a minimum deposit of only $1. The majority of alternative banks and brokerages have quite large min deposit amounts of 1K-5K. This makes it difficult for the everyday new investor to start. With Wealthsimple Trade, you won’t have to already be wealthy to start trading stocks and ETFs.
Does Wealthsimple Trade Offer TFSA Accounts?
They do. Wealthsimple Trade has CRA registered and non-registered accounts. You are free to select both RRSP and TFSA accounts during the setup phase.
But Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade offers a well designed mobile app that is available to download on iOS and also Android. The mobile app makes the enrollment phase and the trading of stocks and ETFs truly easy.
So Is Wealthsimple Trade Legit?
Definitely. Wealthsimple Trade is legit. Wealthsimple reports in excess of 15 billion CAD in Assets Under Management . they’ve been expanding for more than 7 years and also right now employs over 600 people. The controlling owner is the admired publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade was the first no-fee online discount brokerage operating in Canada.
But How Can I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it so simple to add funds to an account. Just connect the app to a chequing or savings account with your Trade account, and then add money to your account in simply a couple of steps. Deposits from your bank to Wealthsimple normally take just a few days. Funds can the same way can be withdrawn your chequing or savings account by using the same method.
Which Additional Features and Products Are Available?
Wealthsimple Cash – This is alternative to Interac E-Transfers which allow you to quickly and simply transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for this tax season and file your taxes online free. It’s described to be easy, accurate and always totally free tax filing.
Wealthsimple Spend – A hybrid pre paid visa and savings account which lets you to earn 1% cashback on your spending, and also get a competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance platform which includes a variety of online courses on topics like saving, investing, crypto, real estate and much more.
Every one of the above products, including Wealthsimple Trade can be accessed within the mobile app and from their website with one login.
But How do I Start Using Wealthsimple Trade?
Click here to register for your Wealthsimple Trade account. As an exclusive signup bonus to our audience you will receive the cash value of a stock worth $25 up to $4,500 Canadian once you fund your account.
What if I Still Have Additional Questions Concerning Tfsa Wealthsimple Reddit?
If this article didn’t given you the answers to all of your questions, and you’re searching for more specific info about Tfsa Wealthsimple Reddit, go to the Wealthsimple website for answers to all your questions.