What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian digital investing, stocks plus crypto trading web app that differentiates itself from the competition by charging absolutely no fees.
A online financial services company founded in the Autumn twenty fourteen exclusively as a robo-advisor trading app named Wealthsimple Invest, it has evolved considerably over the past 8 years to feature Wealthsimple Trade, a zero fee discount brokerage app.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade lets Canadian consumers trade stand alone stocks and ETFs without paying any commissions. The exception to this is when you’re trading stocks which are listed in US Dollars. In which case, they do charge a currency conversion fee when buying and selling. But, past us are the days of paying more than $7 per each trade with digital discount brokerages as was normal a few years past.
Exactly How Much Cash Will I Need in Order to Begin Investing With Wealthsimple Trade?
Wealthsimple is cool such that they allow Canadian investors to make a minimum deposit of just $1. Many traditional banks and discount brokerages have large initial deposit amounts of $1,000-5K. This makes it hard for the common new investor to start. With Wealthsimple Trade, one doesn’t have to be wealthy to begin trading stocks and ETFs.
Does Wealthsimple Trade Offer Registered Accounts?
Yes. Wealthsimple Trade offers both CRA registered and non-CRA-registered account types. You can select both RRSP and TFSA accounts in the setup process.
Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade offers a modern mobile app that is offered to download on iOS and Android. The mobile app makes the signup phase and the trading of stocks and ETFs truly a breeze.
But Is Wealthsimple Trade Trustworthy?
Of course. Wealthsimple Trade is legit. Wealthsimple reports in excess of 15 billion CAD of Assets Under Management (AUM). they’ve been doing business for more than 7 years and right now employs about 600 Canadians. The primary shareholder is the large public Canadian entity Power Corp of Canada. Weapthsimple Trade is the first no-fees digital brokerage to operate in Canada.
How Does One Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it incredibly easy to deposit to your account. Simply connect to a chequing or savings account with your Trade account, and then add money to your account in just a few clicks. Deposits from your bank to Wealthsimple usually take only a few days. Funds can the same way can be withdrawn a chequing or savings accounts with the same steps.
Which Other Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An equivalent to E-transfers which allow anyone to quickly and efficiently transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to get ready for tax season and submit your taxes online free. It’s described as easy, accurate and always free income tax filing.
Wealthsimple Spend – A combination prepaid visa and savings account that lets one to earn 1% cashback on all your everyday purchases, as well as earn a very competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform which includes a bunch of different courses on topics like saving, investing, crypto, home buying and much more.
Each of the above products, along with Wealthsimple Trade may be accessed in the app or from the site with one login.
How Should I Begin With Wealthsimple Trade?
Click here to setup your Wealthsimple Trade account. As an exclusive registration bonus offer for our readers you’ll receive the cash value of a random Canadian stock valued at $25 up to $4,500 Canadian once you add funds to your account.
But What if I Still Have Questions Concerning Us Stocks Wealthsimple?
If this article still hasn’t answered all of your questions, and you’re still searching for further specific information relating to Us Stocks Wealthsimple, check out the Wealthsimple website to find answers to all your questions.