What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian online investing, stocks and crypto trading app that differentiates itself from its competitors by charging no fees.
A online financial services business launched in the Autumn of 2014 originally as a robo advisor automated trading app named Wealthsimple Invest, it has grown significantly over the past 8 years to also feature Wealthsimple Trade, a zero fee discount brokerage platform.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade lets Canadian consumers trade individual stocks and ETFs without needing to pay any fees. The exception is when trading securities that are displayed in US Dollars. In this case, they do charge a nominal currency conversion fee both when buying and selling. However, past us are the times of having to pay Upwards of $7 for each trade with discount brokerages as was the norm just a few years past.
Exactly How Much in Funds do I Need to Have in Order to Start With Wealthsimple Trade?
Wealthsimple is unique such that they will allow Canadian investors to make a minimum deposit of just $1. The majority of traditional banks and brokerages have large minimum deposit amounts of 1k-$5000. This makes it hard for the normal new investor to start. With Wealthsimple Trade, one doesn’t need to already be wealthy to begin trading stocks and ETFs.
Does Wealthsimple Trade Have TFSA Accounts?
It does. Wealthsimple Trade has CRA registered and non-registered accounts. You are free to choose between both RRSP and TFSA account types during the setup phase.
But Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade has a easy to use mobile app that is available on both IOS and also Android. The smartphone app makes the registration process and the trading of stocks and ETFs very a breeze.
Is Wealthsimple Trade Trustworthy?
Definitely. Wealthsimple Trade is legit. Wealthsimple boasts in excess of 15 billion Canadian of Assets Under Management . they’ve been in business for more than 7 years and now employs roughly 600 folks. The controlling shareholder is the admired publicly traded Canadian entity Power Corp of Canada. Weapthsimple Trade was the very first no-fees online brokerage to operate in Canada.
How Can I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it very straight forward to deposit to an account. Just connect the app to a chequing or savings account to your Trade account, and then fund your account in just a couple of clicks. Deposits from banks to Wealthsimple normally take only a couple of days. Funds can the same way can be moved to your chequing or savings accounts using the same steps.
Which Additional Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An equivalent to e-Transfers which allow you to quickly and efficiently send cash to friends and family in Canada.
Wealthsimple Tax – Everything you require to get ready for tax season and file your taxes online for free. It’s described to be easy, accurate and always free income tax filing.
Wealthsimple Spend – A combination prepaid visa and savings product that lets you to earn 1% cashback on your everyday purchases, and also earn a very competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform that offers a ton of different online courses on topics like saving, investing, crypto, real estate and much more.
Each of the above features, along with Wealthsimple Trade can be accessed within the mobile app and on the site with a single login.
So How do I Start With Wealthsimple Trade?
Click here to register for a Wealthsimple Trade account. As a special registration bonus offer for our readers you will get the equivalent cash value of a random stock worth $25 up to $4,500 CAD as soon as you add funds to your account.
So What if I Still Have Questions Concerning Wealthsimple Withdrawal?
If this review still hasn’t answered all of your questions, and you’re still searching for additional specific information about Wealthsimple Withdrawal, go to the Wealthsimple website for answers to all your questions.