What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian online Financial, stocks plus crypto trading web app that differentiates itself from its competitors by charging absolutely no fees.
A Toronto, Ontario based fintech company launched in Fall twenty fourteen originally as a robo advisor algorithmic automated trading app called Wealthsimple Invest, it has grown significantly over the previous 8 years to also include Wealthsimple Trade, a no fees discount brokerage platform.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade lets Canadian investors trade individual stocks and also ETFs without paying commissions. The exception to this is when trading securities which are displayed in USD. In that case, they charge a nominal currency conversion fee when buying and selling. But, behind us are the days of paying $7-12 per trade with digital discount brokerages as was the case only a few years past.
How Much Money Will I Need to Have to Begin Investing With Wealthsimple Trade?
Wealthsimple is unique in that they will allow new customers to make a minimum deposit of only $1. Most alternative banks and brokerages have large min deposit amounts of $1000-5K. This makes it hard for the typical investor to start. With Wealthsimple Trade, one doesn’t need to already be wealthy to begin trading stocks and ETFs.
But Does Wealthsimple Trade Offer Registered Accounts?
Yes. Wealthsimple Trade has registered and non-CRA-registered accounts. One may select between both RRSP and TFSA accounts during the setup phase.
Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade offers a well designed mobile app available to download on both iOS and Google Play. The smartphone app makes the enrollment process and also trading of stocks and ETFs truly painless.
But Is Wealthsimple Trade Trustworthy?
Definitely. Wealthsimple Trade is safe. Wealthsimple reports more than 15 billion Canadian of Assets Under Management . They have been operating for more than 7 years and also right now employs more than 600 Canadians. The primary owner is the large publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade is the very first no-fees online brokerage operating in Canada.
How Can I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it easy to fund a new account. Simply connect the app to a chequing or savings account to your Trade account, then add funds to your account in simply a couple of clicks. Deposits from your bank to Wealthsimple typically take just a few days. Funds can just as easily be withdrawn a chequing or savings account using the exact same process.
Which Additional Benefits and Products Are Available?
Wealthsimple Cash – This is alternative to e-transfers that allows anyone to quickly and simply transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you require to get ready for tax year and submit your taxes online free. It’s advertised as easy, accurate and always totally free tax return filing.
Wealthsimple Spend – A combination prepaid debit card and savings account that lets you to recieve 1% cashback on your purchases, and also earn a very competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance platform that includes a bunch of online courses on different topics such as saving, investments, crypto, home buying and much more.
Each of the mentioned features, including Wealthsimple Trade may be accessed within the app and on their site with a single login.
But How Can I Start Using Wealthsimple Trade?
Click here to setup a new Wealthsimple Trade account. For an exclusive signup bonus offer for our readers you’ll receive the equivalent cash value of a Canadian stock worth $25 up to $4,500 CAD as soon as you fund your account.
So What if I Still Have Additional Questions Concerning Wealthsimple United States?
If this review didn’t answered all of your questions, and you’re searching for more specific facts about Wealthsimple United States, check out the Wealthsimple website to find answers to every one of your questions.