What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian digital investing, stocks plus crypto trading web app that sets itself apart from other apps by charging no fees.
A fintech company launched in Fall twenty fourteen exclusively as a robo advisor trading app named Wealthsimple Invest, it has improved considerably over the last eight years to feature Wealthsimple Trade, a no fee discount brokerage platform.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade lets investors trade single stocks and also ETFs without needing to pay any commissions. The exception to this is when trading securities that are displayed in USD. In which case, they charge a small currency conversion fee both when buying and selling. But, behind us are the times of paying more than $7 per trade with discount brokerages as was the norm a couple years ago.
How Much Cash do I Need in Order to Get Started on Wealthsimple Trade?
Wealthsimple is awesome such that they will allow Canadians to make a minimum deposit of only $1. The majority of traditional banks and brokerages have sizeable initial deposit amounts of $1,000-5K. This makes it impossible for the everyday new investor to start investing. With Wealthsimple Trade, you won’t need to be wealthy to start trading stocks and ETFs.
But Does Wealthsimple Trade Have Registered Accounts?
It does. Wealthsimple Trade offers registered and non-CRA-registered accounts. You may select both RRSP and TFSA accounts in the setup wizard.
So Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade has a convenient mobile app offered to download on IOS and also Android. The mobile app makes the signup process and the trading of stocks and ETFs very easy.
So Is Wealthsimple Trade Safe?
Of course. Wealthsimple Trade is safe. Wealthsimple boasts in excess of 15 billion Canadian in Assets Under Management . They have been in business for more than 7 years and also at this time employs over 600 folks. The primary owner is the large publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade is the first no-fee online discount brokerage to operate in Canada.
So How Do I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it quite straight forward to add money to a new account. Simply connect the app to a chequing or savings account with your Trade account, and then add funds to your account in only a few steps. Deposits from your bank to Wealthsimple typically take a couple of days. Funds can the same way can be moved back to a chequing or savings accounts with the same process.
What Other Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An equivalent to Interac E-Transfers which allows one to quickly and simply transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you require to get ready for this tax year and file your taxes online free. It’s pitched to be simple, accurate and always free tax return filing.
Wealthsimple Spend – A hybrid pre paid debit card and savings account which lets you to earn 1% cashback on your everyday spending, and also get a competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform which offers a ton of different courses on saving, investing, crypto, real estate and much more.
Every one of the listed products, along with Wealthsimple Trade can be accessed inside the mobile app or on the website with your Wealthsimple login.
So How do I Start With Wealthsimple Trade?
Click here to create your Wealthsimple Trade account. For an exclusive signup bonus to our readers you will receive the cash value of a random Canadian stock valued at up to $4,500 CAD as soon as you fund your account.
But What if I Still Have Questions Related to Us Stocks Wealthsimple Reddit?
If this article hasn’t answered all of your questions, and you’re still looking for more specific facts relating to Us Stocks Wealthsimple Reddit, visit the Wealthsimple site for answers to all your questions.