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 absolutely no fees.
A leading Canadian online financial services company founded in the Fall of 2014 exclusively as a robo-advisor automated trading app named Wealthsimple Invest, it has changed considerably over the previous 8 years to feature Wealthsimple Trade, a zero fees discount brokerage app.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade allows investors trade single stocks and also ETFs without having to pay commissions. The exception is when you’re trading stocks that are denominated in USD. In that case, they do charge a nominal currency conversion fee when buying and selling. However, past us are the times of paying more than $7 for each trade with digital discount brokerages as was the norm just a few years past.
Exactly How Much Cash do I Need to Start on Wealthsimple Trade?
Wealthsimple is special in that they will allow Canadians to make a minimum deposit of just $1. Many alternative banks and brokerages have large initial deposit amounts of 1k-5K. This makes it hard for the typical investor to start. With Wealthsimple Trade, one doesn’t need to be wealthy to get started with trading stocks and ETFs.
So Does Wealthsimple Trade Offer Registered Accounts?
Yes. Wealthsimple Trade offers both CRA registered and non-CRA-registered accounts. You are free to select between both RRSP and TFSA accounts during the setup phase.
But Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade has a convenient mobile app that is offered on both IOS and Google Play. The smartphone app makes the registration process and the trading of stocks and ETFs super a breeze.
But Is Wealthsimple Trade Trustworthy?
. Wealthsimple Trade is safe. Wealthsimple has more than 15 billion CAD of Assets Under Management (AUM). This company has been doing business for more than 7 years and at this time employs about 600 Canadians. The controlling owner is the public Canadian corporation Power Corp of Canada. Weapthsimple Trade is the first no-fee digital discount brokerage operating in Canada.
How Can I Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it very easy to deposit to your account. Simply connect a chequing or savings account with your Trade account, and fund your account in just a few clicks. Deposits from banks to Wealthsimple normally take just a couple of days. Funds can also be withdrawn your chequing or savings accounts by the same steps.
What Other Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is equivalent to Interac E-Transfers which allows anyone to quickly and easily transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you need to prepare for tax season and file your tax return online for free. It’s described as easy, accurate and always totally free income tax filing.
Wealthsimple Spend – A hybrid prepaid debit card and savings account that allows you to earn 1% cashback on all your everyday spending, as well as get a competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform that offers a bunch of different online courses on different topics such as saving, investments, crypto, mortgages and more.
Each of the listed products, including Wealthsimple Trade can be found within the mobile app and from the site with a single login.
How Should I Begin With Wealthsimple Trade?
Click here to create a Wealthsimple Trade account. For an exclusive registration bonus to our audience you’ll receive the equivalent cash value of a Canadian stock worth up to $4,500 Canadian when you fund your account.
So What if I Still Have Additional Questions Concerning Hanna Zaidi Wealthsimple?
If this article didn’t answered each of your questions, and you’re still searching for more facts about Hanna Zaidi Wealthsimple, check out the Wealthsimple site to find answers to all your questions.