What is Wealthsimple?
Wealthsimple is an easy to use Canadian web based investing, stock and crypto trading web app that sets itself apart from other apps by charging absolutely no fees.
A Toronto, Ontario based online financial services company founded in Fall twenty fourteen exclusively as a robo-advisor trading app named Wealthsimple Invest, it has evolved significantly over the past eight years to feature Wealthsimple Trade, a zero fees discount brokerage platform.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade lets consumers trade stand alone stocks and ETFs without paying any fees. The exception to this is when you’re trading ETFs and stocks that are listed in USD currency. In which case, they will charge a currency conversion fee both when buying and selling. However, behind us are the days of paying $7-12 per trade with discount brokerages as was the case a couple years ago.
How Much Cash do I Need to Have in Order to Start on Wealthsimple Trade?
Wealthsimple is unique in that they allow new customers to make a minimum deposit of just $1. The majority of traditional banks and discount brokerages have quite large initial deposit amounts of 1K-$5,000. This makes it difficult for the every day new investor to get started. With Wealthsimple Trade, one doesn’t need to already be wealthy to get started with trading stocks and ETFs.
But Does Wealthsimple Trade Offer Registered Accounts?
Of course. Wealthsimple Trade has registered and non-CRA-registered account types. One may choose between both RRSP and TFSA accounts in the setup wizard.
But Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade has a convenient mobile app that is available on both iOS and also Google Play. The mobile app makes the signup process and trading of stocks and ETFs truly easy.
But Is Wealthsimple Trade Secure?
Yes. Wealthsimple Trade is secure. Wealthsimple boasts over 15 billion CAD in Assets Under Management . they’ve been doing business for more than 7 years and also right now employs about 600 folks. The majority shareholder is the respected public Canadian company Power Corp of Canada. Weapthsimple Trade was the very first no-fees online discount brokerage operating in Canada.
So How Do I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it very easy to deposit to your account. Simply connect the app to a chequing or savings account to your Trade account, and then add funds to your account in simply a few steps. Deposits from banks to Wealthsimple normally take a few days. Funds can just as easily be moved back to a chequing or savings accounts through the same steps.
What Additional Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An equivalent to E-Transfers which allow anyone to quickly and simply send cash to friends and family in Canada.
Wealthsimple Tax – Everything you require to prepare for tax season and submit your tax return online for free. It’s advertised to be simple, accurate and always totally free tax return filing.
Wealthsimple Spend – A combination prepaid debit card and savings product which allows one to get 1% cashback on all your everyday purchases, and also get a very competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform which offers a bunch of different courses on different topics such as saving, investing, crypto, home buying and more.
Every one of the listed features, along with Wealthsimple Trade may be found in the mobile app or at the website with your Wealthsimple login.
So How do I Start With Wealthsimple Trade?
Click here to setup a new Wealthsimple Trade account. As an exclusive registration bonus for our readers you’ll receive the cash value of a stock valued at $25 up to $4,500 Canadian once you add funds to your account.
But What if I Still Have Questions Related to 10 Cent Stocks On Wealthsimple?
If this blog post still hasn’t given you the answers to all of your questions, and you’re still looking for further specific facts about 10 Cent Stocks On Wealthsimple, visit the Wealthsimple website to get answers to all your questions.