What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian digital Financial, securities plus crypto trading app that differentiates itself from the competition by charging absolutely no fees.
A fintech business launched in the Autumn of 2014 exclusively as a robo-advisor algorithmic trading app called Wealthsimple Invest, it has improved significantly over the past eight years to also feature Wealthsimple Trade, a no fees discount brokerage service.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade allows Canadian consumers to trade single stocks and also ETFs without having to pay any fees. The exception is when trading ETFs and stocks which are displayed in USD. In which case, they will charge a small currency conversion fee when buying and selling. But, past us are the days of having to pay Upwards of $7 per each trade with discount brokerages as was the norm a couple years past.
How Much Money Will I Need to Start on Wealthsimple Trade?
Wealthsimple is unique in that they allow Canadians to make a minimum deposit of just $1. Many traditional banks and brokerages have large min deposit amounts of 1K-$5000. This makes it tough for the everyday new investor to start. With Wealthsimple Trade, one doesn’t need to be wealthy to begin trading stocks and ETFs.
So Does Wealthsimple Trade Offer Registered Accounts?
They do. Wealthsimple Trade has available registered and non-registered account types. One are able to select between both RRSP and TFSA account types during the setup wizard.
But Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade has a well designed mobile app offered to download on both iOS and also Google Play. The mobile app makes the registration process and also trading of stocks and ETFs simple.
So Is Wealthsimple Trade Safe?
Most definitely. Wealthsimple Trade is secure. Wealthsimple boasts over 15 billion Canadian of Assets Under Management (AUM). They have been doing business for more than 7 years and also employs more than 600 people. The controlling shareholder is the admired publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade is the very first no-fee online brokerage to operate in Canada.
So How Do I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it very straight forward to add funds to your new account. Simply connect the app to a chequing or savings account with your Trade account, then add money to your account in only a couple of clicks. Deposits from banks to Wealthsimple typically take only a couple of days. Funds can the same way can be moved back to your chequing or savings accounts through the same process.
Which Other Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – An equivalent to Interac e-transfers that allow anyone to quickly and easily send money to friends and family in Canada.
Wealthsimple Tax – Everything you require to get ready for this tax season and submit your taxes online for free. It’s described to be easy, accurate and always totally free income tax filing.
Wealthsimple Spend – A combination pre paid debit card and savings account which lets one to earn 1% cashback on all your everyday purchases, and also get a very competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance platform that includes a variety of online courses on topics like saving, investments, crypto, mortgages and much more.
All of the listed features, along with Wealthsimple Trade can be accessed within the mobile app and from their site with a single login.
But How Can I Begin With Wealthsimple Trade?
Click here to setup your Wealthsimple Trade account. As a special registration bonus for our audience you will get the equivalent cash value of a Canadian stock worth $25 up to $4,500 Canadian as soon as you deposit to your account.
So What if I Still Have Questions About Wealthsimple Visa Reddit?
If this review hasn’t given you the answers to each of your questions, and you’re browsing for additional information relating to Wealthsimple Visa Reddit, check out the Wealthsimple website to find answers to every one of your questions.