What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian web based Financial, securities and crypto trading web app that distinguishes itself from the competition by charging absolutely no fees.
A leading Canadian online financial services business launched in Autumn twenty fourteen exclusively as a robo-advisor trading app called Wealthsimple Invest, it has evolved considerably over the previous 8 years to feature Wealthsimple Trade, a no fee discount brokerage app.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade lets consumers to trade stand alone stocks and ETFs without paying any commissions. The exception is when you’re trading stocks that are listed in US Dollars. In this case, they will charge a currency conversion fee both when buying and selling. But, behind us are the days of paying Upwards of $7 for each trade with digital discount brokerages as was expected just a few years ago.
How Much Money Will I Need to Start Investing on Wealthsimple Trade?
Wealthsimple is special in that they allow Canadian investors to make a minimum deposit of just $1. The majority of alternative banks and discount brokerages have large min deposit amounts of 1K-5k. This makes it tough for the normal investor to start. With Wealthsimple Trade, you don’t need to be wealthy to get started with trading stocks and ETFs.
So Does Wealthsimple Trade Offer TFSA Accounts?
Of course. Wealthsimple Trade has available both CRA registered and non-CRA-registered account types. One may choose both RRSP and TFSA account types in the setup process.
Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade offers a modern mobile app that is available on Apple and also Android. The app makes the registration process and also the trading of stocks and ETFs very simple.
So Is Wealthsimple Trade Secure?
Of course. Wealthsimple Trade is trustworthy. Wealthsimple reports more than 15 billion Canadian in Assets Under Management (AUM). they’ve been doing business for more than 7 years and at this time employs roughly 600 Canadians. The majority owner is the large publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade was the very first no-fee digital discount brokerage to operate in Canada.
How Does One Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it incredibly straight forward to add funds to a new account. Simply connect a chequing or savings account to your Trade account, then fund your account in simply a few clicks. Deposits from financial institutions to Wealthsimple typically take a couple of days. Funds can just as easily be withdrawn your chequing or savings accounts by using the same steps.
What Other Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is alternative to E-Transfers which allows one to quickly and simply send money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to prepare for tax season and submit your tax return online for free. It’s advertised to be easy, accurate and always totally free tax filing.
Wealthsimple Spend – A combination prepaid debit card and savings product that lets one to earn 1% cashback on your everyday purchases, as well as earn a competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform that includes a bunch of online courses on topics like saving, investments, crypto, real estate and much more.
Every one of the mentioned features, along with Wealthsimple Trade may be accessed in the app and from the website with one login.
But How Can I Get Started With Wealthsimple Trade?
Click here to signup for a new Wealthsimple Trade account. As a special registration bonus for our readers you will get the cash value of a random stock worth up to $4,500 Canadian when you make an initial deposit to your account.
What if I Still Have Questions About Veqt Wealthsimple?
If this article didn’t given you the answers to all of your questions, and you’re browsing for further specific info relating to Veqt Wealthsimple, check out the Wealthsimple website to find answers to every one of your questions.