What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian web based investing, stock and crypto trading app that differentiates itself from other apps by charging absolutely no fees.
A fintech company founded in Autumn of 2014 originally as a robo-advisor automated trading platform named Wealthsimple Invest, it has grown considerably over the previous 8 years to also feature Wealthsimple Trade, a no fees discount brokerage platform.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade allows Canadian consumers to trade individual stocks and also ETFs without needing to pay any commissions. The exception is when you’re trading ETFs and stocks which are listed in USD. In this case, they will charge a nominal currency conversion fee when buying and selling. However, gone are the days of having to pay $7-12 per trade with digital discount brokerages as was normal just a couple years past.
Exactly How Much Money do I Need to Have to Begin Investing With Wealthsimple Trade?
Wealthsimple is unique in that they allow new customers to make a minimum deposit of just $1. Many traditional banks and discount brokerages have quite large initial deposit amounts of $1000-$5000. This makes it impossible for the common new investor to start. With Wealthsimple Trade, you don’t have to be wealthy to begin trading stocks and ETFs.
Does Wealthsimple Trade Have Registered Accounts?
Yes. Wealthsimple Trade offers registered and non-CRA-registered accounts. One are able to select between both RRSP and TFSA accounts during the setup phase.
So Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade has a modern mobile app that is offered to download on Apple and also Android. The smartphone app makes the enrollment phase and the trading of stocks and ETFs truly simple.
But Is Wealthsimple Trade Legit?
For sure. Wealthsimple Trade is safe. Wealthsimple has in excess of 15 billion Canadian of Assets Under Management . This company has been operating for more than 7 years and also now employs over 600 folks. The main shareholder is the respected publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade was the very first no-fee online brokerage operating in Canada.
How Do I Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it incredibly easy to deposit to an account. Just connect the app to a chequing or savings account with your Trade account, then fund your account in only a few steps. Deposits from your bank to Wealthsimple normally take a couple of days. Funds can the same way can be withdrawn your chequing or savings accounts by using the exact same steps.
What Other Features and Products Are Available?
Wealthsimple Cash – This is alternative to Interac E-Transfers that allow anyone to quickly and easily transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you require to get ready for this tax season and submit your tax return online for free. It’s pitched as simple, accurate and always free income tax filing.
Wealthsimple Spend – A hybrid pre paid debit card and savings account that lets one to earn 1% cashback on 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 that includes a variety of courses on topics like saving, investments, crypto, home buying and more.
Every one of the listed products, along with Wealthsimple Trade may be accessed in the app or from the site with one login.
But How do I Begin With Wealthsimple Trade?
Click here to register for a Wealthsimple Trade account. As an exclusive registration bonus offer to our audience you’ll get the cash value of a share valued at $25 up to $4,500 CAD as soon as you fund your account.
But What if I Still Have Additional Questions About Vgro Vs Wealthsimple?
If this blog post still hasn’t answered each of your questions, and you’re looking for more specific answers relating to Vgro Vs Wealthsimple, visit the Wealthsimple site to find answers to each your questions.