What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian online investing, stock and crypto trading platform that sets itself apart from its competitors by charging no fees.
A leading Canadian online financial services business founded in the Autumn of twenty fourteen originally as a robo advisor automated trading app named Wealthsimple Invest, it has changed considerably over the past 8 years to feature Wealthsimple Trade, a zero fee discount brokerage platform.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade lets investors to trade stand alone stocks and ETFs without having to pay fees. The exception to this is when you’re trading ETFs and stocks which are denominated in USD. In that case, they will charge a nominal currency conversion fee when buying and selling. However, gone are the days of having to pay more than $7 per trade with online discount brokerages as was expected just a couple years ago.
How Much in Funds do I Need to Get Started on Wealthsimple Trade?
Wealthsimple is cool such that they will allow new customers to make a minimum deposit of only $1. Most alternative banks and brokerages have sizeable initial deposit amounts of 1K-$5000. This makes it difficult for the every day investor to get started. With Wealthsimple Trade, you won’t need to be wealthy to begin trading stocks and ETFs.
Does Wealthsimple Trade Offer Registered Accounts?
They do. Wealthsimple Trade offers registered and non-CRA-registered accounts. One are able to select both RRSP and TFSA accounts in the setup process.
So Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade has a easy to use mobile app offered on both Apple and Android. The mobile app makes the signup steps and also trading of stocks and ETFs truly a breeze.
So Is Wealthsimple Trade Legit?
Most definitely. Wealthsimple Trade is trustworthy. Wealthsimple has over 15 billion CAD in Assets Under Management . they’ve been operating for more than 7 years and at this time employs more than 600 people. The main owner is the respected publicly traded Canadian entity Power Corp of Canada. Weapthsimple Trade is the very first no-fee digital brokerage operating in Canada.
But How Can I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it quite simple to fund a new account. Simply connect a chequing or savings account to your Trade account, then add money to your account in simply a couple of steps. Deposits from banks to Wealthsimple usually take just a couple of days. Funds can just as easily be moved to your chequing or savings account using the same method.
What Additional Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An alternative to e-transfers which allows you to quickly and simply send money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to get ready for this tax year and file your tax return online free. It’s advertised as simple, accurate and always free tax return filing.
Wealthsimple Spend – A combination pre paid debit card and savings product that lets one to recieve 1% cashback on all your spending, as well as get a very competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance platform which includes a ton of different online courses on saving, investments, crypto, real estate and much more.
Each of the mentioned features, including Wealthsimple Trade may be accessed in the app or from the site with one login.
So How Should I Begin Using Wealthsimple Trade?
Click here to setup a Wealthsimple Trade account. For an exclusive signup bonus offer to our readers you’ll receive the cash value of a random stock valued at up to $4,500 CAD as soon as you add funds to your account.
So What if I Still Have Additional Questions About Vtsax Wealthsimple?
If this blog post hasn’t given you the answers to each of your questions, and you’re still searching for further info about Vtsax Wealthsimple, check out the Wealthsimple site for answers to every one of your questions.