What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian web based Financial, stock plus crypto trading web app that distinguishes itself from similar apps by charging no fees.
A leading Canadian online financial services business launched in Fall of 2014 exclusively as a robo advisor algorithmic trading platform named Wealthsimple Invest, it has grown considerably over the past eight years to feature Wealthsimple Trade, a zero fee discount brokerage platform.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade lets investors to trade single stocks and ETFs without needing to pay any fees. The exception is when trading securities that are displayed in USD currency. In that case, they will charge a currency conversion fee both when buying and selling. However, gone are the days of having to pay $7-12 for each trade with digital discount brokerages as was normal only a couple years ago.
How Much Cash do I Need to Begin Investing on Wealthsimple Trade?
Wealthsimple is awesome in that they will allow investors to make a minimum deposit of just $1. The majority of traditional banks and brokerages have sizeable min deposit amounts of $1000-5K. This makes it difficult for the common investor to start investing. With Wealthsimple Trade, one doesn’t have to be wealthy to start trading stocks and ETFs.
Does Wealthsimple Trade Offer TFSA Accounts?
Of course. Wealthsimple Trade has both registered and non-registered accounts. One can choose between both RRSP and TFSA accounts during the setup phase.
But Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade offers a easy to use mobile app that is available on both Apple and also Google Play. The app makes the enrollment phase and trading of stocks and ETFs easy.
Is Wealthsimple Trade Legit?
Definitely. Wealthsimple Trade is legit. Wealthsimple has more than 15 billion CAD of Assets Under Management (AUM). This company has been doing business for more than 7 years and also right now employs about 600 people. The primary owner is the respected public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the first no-fee online brokerage operating in Canada.
How Do I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it incredibly simple to add funds to your account. Simply connect the app to a chequing or savings account to your Trade account, and then fund your account in just a few steps. Deposits from your bank to Wealthsimple normally take just a couple of days. Funds can the same way can be moved to a chequing or savings account by the exact same process.
What Additional Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – An equivalent to Interac e-transfers which allow you to quickly and easily send cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for this tax season and submit your taxes online free. It’s advertised to be simple, accurate and always totally free tax return filing.
Wealthsimple Spend – A combination pre paid visa and savings product that lets you to recieve 1% cashback on all your purchases, and also earn a competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance platform which offers a variety of different online courses on topics like saving, investing, crypto, real estate and much more.
All of the listed products, along with Wealthsimple Trade may be accessed in the mobile app and at their site with your Wealthsimple login.
So How Can I Begin Using Wealthsimple Trade?
Click here to setup a new Wealthsimple Trade account. As an exclusive signup bonus to our audience you will get the cash value of a Canadian stock worth up to $4,500 Canadian as soon as you deposit to your account.
What if I Still Have Additional Questions About Wealthsimple Ui?
If this blog post didn’t answered all of your questions, and you’re still searching for more specific facts relating to Wealthsimple Ui, visit the Wealthsimple website for answers to all your questions.