What is Wealthsimple?
Wealthsimple is a simple to use Canadian digital investing, stocks plus crypto trading web app that sets itself apart from similar apps by charging no fees.
A fintech business founded in the Autumn twenty fourteen exclusively as a robo advisor algorithmic automated trading app named Wealthsimple Invest, it has changed considerably over the last 8 years to also feature Wealthsimple Trade, a zero fees discount brokerage service.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade lets investors trade individual stocks and also ETFs without needing to pay any fees. The exception to this is when you’re trading stocks and ETFs which are displayed in USD. In this case, they charge a small currency conversion fee both when buying and selling. But, past us are the days of paying $7-12 per trade with online discount brokerages as was the norm just a couple years past.
How Much Money do I Need to Have to Begin Investing With Wealthsimple Trade?
Wealthsimple is awesome such that they allow Canadians to make a minimum deposit of just $1. The majority of traditional banks and brokerages have sizeable minimum deposit amounts of 1k-5K. This makes it tough for the every day 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 TFSA Accounts?
Of course. Wealthsimple Trade has both CRA registered and non-registered accounts. One may select both RRSP and TFSA account types during the setup phase.
So Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade has a easy to use mobile app that is offered on IOS and Google Play. The app makes the enrollment steps and the trading of stocks and ETFs super a breeze.
So Is Wealthsimple Trade Trustworthy?
. Wealthsimple Trade is legit. Wealthsimple reports over 15 billion CAD in Assets Under Management (AUM). This company has been expanding for more than 7 years and also right now employs more than 600 Canadians. The primary shareholder is the respected public Canadian corporation Power Corp of Canada. Weapthsimple Trade was the very first no-fees online brokerage to operate in Canada.
So How Can I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it quite easy to add funds to your account. Just connect a chequing or savings account to your Trade account, and fund your account in just a few steps. Deposits from banks to Wealthsimple usually take only a couple of days. Funds can also be moved to your chequing or savings account by using the same method.
Which Other Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is equivalent to Interac E-transfers that allow anyone to quickly and easily transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for tax year and submit your tax return online free. It’s advertised as simple, accurate and always free income tax filing.
Wealthsimple Spend – A hybrid prepaid visa and savings product that lets one to earn 1% cashback on all your everyday spending, and also get a competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform that offers a variety of courses on different topics such as saving, investing, crypto, home buying and more.
Each of the above features, along with Wealthsimple Trade may be found in the mobile app and at their site with one login.
So How do I Get Started Using Wealthsimple Trade?
Click here to register for a new Wealthsimple Trade account. As an exclusive registration bonus offer to our readers you’ll get the cash value of a random stock worth $25 up to $4,500 Canadian when you add funds to your account.
But What if I Still Have Additional Questions Related to Vgro Wealthsimple Trade?
If this article didn’t given you the answers to all of your questions, and you’re looking for further specific facts relating to Vgro Wealthsimple Trade, check out the Wealthsimple website to get answers to all your questions.