What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian digital Financial, stocks and crypto trading platform that sets itself apart from similar apps by charging absolutely no fees.
A online financial services business founded in the Fall twenty fourteen originally as a robo advisor algorithmic trading platform called Wealthsimple Invest, it has evolved substantially over the past 8 years to feature Wealthsimple Trade, a no fee discount brokerage app.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade lets Canadian investors trade both single stocks and ETFs without needing to pay commissions. The exception to this is when you’re trading stocks that are listed in USD currency. In that case, they do charge a nominal currency conversion fee when buying and selling. However, behind us are the days of paying Upwards of $7 per each trade with online discount brokerages as was the case just a few years ago.
Exactly How Much Cash Will I Need to Begin Investing With Wealthsimple Trade?
Wealthsimple is awesome such that they allow Canadian investors to make a minimum deposit of just $1. Many traditional banks and discount brokerages have sizeable initial deposit amounts of 1k-5K. This makes it hard for the normal investor to start. With Wealthsimple Trade, one doesn’t need to be wealthy to begin trading stocks and ETFs.
But Does Wealthsimple Trade Have RRSP Accounts?
It does. Wealthsimple Trade has both registered and non-registered accounts. You are able to select both RRSP and TFSA accounts in the setup phase.
But Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade has a modern mobile app that is available on both IOS and Google Play. The app makes the registration steps and trading of stocks and ETFs super easy.
But Is Wealthsimple Trade Safe?
For sure. Wealthsimple Trade is legit. Wealthsimple boasts in excess of 15 billion Canadian of Assets Under Management . They have been in business for more than 7 years and also employs more than 600 people. The controlling owner is the large publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade was the very first no-fees digital discount brokerage operating in Canada.
So How Do I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it quite simple to add funds to your new account. Simply connect a chequing or savings account to your Trade account, then add money to your account in just a few clicks. Deposits from financial institutions to Wealthsimple normally take a couple of days. Funds can also be withdrawn a chequing or savings account using the same method.
Which Other Features and Products Are Available?
Wealthsimple Cash – An equivalent to Interac E-Transfers that allows one to quickly and efficiently transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for this tax season and file your tax return online free. It’s pitched to be simple, accurate and always totally free income tax filing.
Wealthsimple Spend – A combination pre paid visa and savings product that lets you to get 1% cashback on your spending, and also earn a very competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform that offers a variety of online courses on topics like saving, investments, crypto, mortgages and more.
All of the listed features, including Wealthsimple Trade can be accessed within the mobile app and on their website with a single login.
How Can I Begin Using Wealthsimple Trade?
Click here to create your Wealthsimple Trade account. As a special registration bonus offer for our readers you will receive the equivalent cash value of a Canadian stock worth $25 up to $4,500 Canadian when you make an initial deposit to your account.
So What if I Still Have Additional Questions About Wealthsimple Usd To Cad?
If this article still hasn’t given you the answers to all of your questions, and you’re browsing for further information about Wealthsimple Usd To Cad, go to the Wealthsimple site to get answers to each your questions.