What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian web based investing, securities plus crypto trading platform that distinguishes itself from the competition by charging absolutely no fees.
A online financial services company launched in Fall of 2014 originally as a robo advisor algorithmic trading app called Wealthsimple Invest, it has grown considerably over the previous 8 years to also include Wealthsimple Trade, a zero fees discount brokerage app.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade lets investors to trade both stand alone stocks and ETFs without having to pay commissions. The exception is when you’re trading stocks and ETFs which are listed in USD currency. In that case, they do charge a small currency conversion fee when buying and selling. But, past us are the times of having to pay more than $7 per trade with online discount brokerages as was the case just a few years past.
How Much Money Will I Need to Have in Order to Begin Investing on Wealthsimple Trade?
Wealthsimple is unique such that they allow new customers to make a minimum deposit of only $1. Many alternative banks and discount brokerages have sizeable initial deposit amounts of $1,000-5K. This makes it impossible for the every day investor to start investing. With Wealthsimple Trade, one doesn’t need to be wealthy to begin trading stocks and ETFs.
So Does Wealthsimple Trade Have RRSP Accounts?
Yes. Wealthsimple Trade has both CRA registered and non-registered accounts. One can select between both RRSP and TFSA accounts during the setup phase.
Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade has a modern mobile app that is available on IOS and Android. The mobile app makes the signup phase and the trading of stocks and ETFs super a breeze.
Is Wealthsimple Trade Trustworthy?
For sure. Wealthsimple Trade is secure. Wealthsimple boasts more than 15 billion CAD of Assets Under Management . they’ve been expanding for more than 7 years and also right now employs roughly 600 Canadians. The majority owner is the respected public Canadian corporation Power Corp of Canada. Weapthsimple Trade is the very first no-fee digital brokerage to operate in Canada.
But How Do I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it incredibly straight forward to add funds to an account. Simply connect to a chequing or savings account to your Trade account, and add money to your account in only a couple of clicks. Deposits from banks to Wealthsimple normally take a couple of days. Funds can also be withdrawn a chequing or savings account by the exact same process.
What Other Benefits and Products Are Available?
Wealthsimple Cash – An alternative to E-Transfers that allow anyone to quickly and efficiently transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you require to get ready for this tax season and file your tax return online for free. It’s advertised as easy, accurate and always totally free tax filing.
Wealthsimple Spend – A hybrid prepaid debit card and savings account that allows you to get 1% cashback on your spending, as well as earn a competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform that includes a bunch of different online courses on saving, investing, crypto, home buying and much more.
Each of the listed features, along with Wealthsimple Trade may be accessed within the app or on their site with a single login.
So How do I Start Using Wealthsimple Trade?
Click here to create a Wealthsimple Trade account. For a special registration bonus offer for our readers you will get the equivalent cash value of a random Canadian stock valued at up to $4,500 Canadian as soon as you make an initial deposit to your account.
But What if I Still Have Questions Concerning Vfv Wealthsimple?
If this review hasn’t answered all of your questions, and you’re still searching for additional info relating to Vfv Wealthsimple, go to the Wealthsimple site to find answers to all your questions.