What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian online investing, stocks and crypto trading web app that differentiates itself from similar apps by charging absolutely no fees.
A Toronto, Ontario based online financial services company founded in Fall of twenty fourteen originally as a robo-advisor algorithmic automated trading platform named Wealthsimple Invest, it has grown substantially over the last eight years to also feature Wealthsimple Trade, a no fee discount brokerage platform.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade lets consumers to trade individual stocks and ETFs without paying any fees. The exception is when trading ETFs and stocks that are displayed in USD currency. In that case, they charge a small currency conversion fee when buying and selling. However, behind us are the times of having to pay Upwards of $7 per each trade with online discount brokerages as was common only a few years past.
How Much Money Will I Need to Have in Order to Start With Wealthsimple Trade?
Wealthsimple is awesome such that they allow investors to make a minimum deposit of just $1. The majority of traditional banks and discount brokerages have quite large minimum deposit amounts of 1k-$5000. This makes it hard for the common investor to get started. With Wealthsimple Trade, you don’t need to be wealthy to get started with trading stocks and ETFs.
So Does Wealthsimple Trade Have TFSA Accounts?
Yes. Wealthsimple Trade offers both registered and non-CRA-registered accounts. You can select both RRSP and TFSA account types during the setup wizard.
So Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade offers a easy to use mobile app offered on Apple and also Android. The mobile app makes the enrollment phase and also trading of stocks and ETFs very simple.
Is Wealthsimple Trade Secure?
Of course. Wealthsimple Trade is safe. Wealthsimple reports over 15 billion CAD of Assets Under Management (AUM). they’ve been operating for more than 7 years and now employs over 600 Canadians. The primary owner is the public Canadian entity Power Corp of Canada. Weapthsimple Trade was the first no-fees digital discount brokerage operating in Canada.
But How Can I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it incredibly simple to add money to your account. Just connect the app to a chequing or savings account with your Trade account, then add money to your account in simply a couple of clicks. Deposits from your bank to Wealthsimple normally take a few days. Funds can the same way can be moved back to a chequing or savings account with the exact same process.
What Other Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An alternative to E-Transfers that allow you to quickly and easily transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you need to get ready for tax season and file your tax return online free. It’s advertised to be simple, accurate and always totally free income tax filing.
Wealthsimple Spend – A hybrid pre paid debit card and savings account which allows you to get 1% cashback on your everyday spending, as well as earn a competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform that offers a variety of courses on different topics such as saving, investing, crypto, home buying and much more.
All of the above products, including Wealthsimple Trade can be accessed on the app or on their website with your Wealthsimple login.
So How do I Get Started With Wealthsimple Trade?
Click here to setup a new Wealthsimple Trade account. As a special signup bonus offer for our readers you’ll receive the cash value of a random stock valued at $25 up to $4,500 Canadian when you add funds to your account.
What if I Still Have Additional Questions About Transfer Personal To Tfsa Wealthsimple?
If this blog post didn’t given you the answers to all of your questions, and you’re looking for additional answers about Transfer Personal To Tfsa Wealthsimple, check out the Wealthsimple site to get answers to all your questions.