What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian online investing, securities plus crypto trading platform that differentiates itself from similar apps by charging no fees.
A Toronto, Ontario based fintech business launched in Autumn of twenty fourteen exclusively as a robo-advisor trading platform called Wealthsimple Invest, it has changed considerably over the last eight years to feature Wealthsimple Trade, a no fee discount brokerage platform.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade lets consumers trade both stand alone stocks and also ETFs without needing to pay any commissions. The exception to this is when trading ETFs and stocks which are displayed in USD currency. In which case, they do charge a nominal currency conversion fee when buying and selling. But, past us are the times of having to pay Upwards of $7 per trade with discount brokerages as was normal only a few years past.
Exactly How Much Cash do I Need to Have in Order to Start Investing on Wealthsimple Trade?
Wealthsimple is special in that they allow investors to make a minimum deposit of just $1. Many alternative banks and discount brokerages have sizeable initial deposit amounts of $1,000-$5,000. This makes it tough for the everyday investor to start investing. With Wealthsimple Trade, you don’t need to already be wealthy to begin trading stocks and ETFs.
But Does Wealthsimple Trade Have RRSP Accounts?
Yes. Wealthsimple Trade offers registered and non-registered accounts. You may select between both RRSP and TFSA accounts during the setup phase.
Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade offers a modern mobile app available on both IOS and also Android. The mobile app makes the signup phase and also the trading of stocks and ETFs truly a breeze.
So Is Wealthsimple Trade Trustworthy?
For sure. Wealthsimple Trade is secure. Wealthsimple boasts over 15 billion Canadian in Assets Under Management . These folks have been doing business for more than 7 years and employs roughly 600 people. The majority owner is the respected publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade was the first no-fee digital discount brokerage operating in Canada.
So How Do I Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it quite easy to add money to your new account. Simply connect the app to a chequing or savings account with your Trade account, and then fund your account in simply a couple of steps. Deposits from banks to Wealthsimple usually take only a few days. Funds can just as easily be withdrawn your chequing or savings accounts through the exact same process.
Which Additional Benefits and Products Are Available?
Wealthsimple Cash – This is alternative to Interac E-Transfers which allow one to quickly and simply transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to get ready for tax year and submit your tax return online for free. It’s advertised to be easy, accurate and always totally free tax return filing.
Wealthsimple Spend – A combination prepaid debit card and savings product that allows you to earn 1% cashback on your purchases, and also get a competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance platform that includes a variety of different online courses on saving, investing, crypto, real estate and much more.
All of the listed features, including Wealthsimple Trade can be found inside the mobile app or at their site with your Wealthsimple login.
So How do I Begin With Wealthsimple Trade?
Click here to create a new Wealthsimple Trade account. As a special registration bonus offer to our audience you’ll receive the cash value of a random share worth up to $4,500 Canadian once you make an initial deposit to your account.
But What if I Still Have Questions Concerning Wealthsimple Valuation?
If this review hasn’t given you the answers to all of your questions, and you’re searching for more specific info relating to Wealthsimple Valuation, check out the Wealthsimple site to find answers to every one of your questions.