What is Wealthsimple?
Wealthsimple is a simple to use Canadian online Financial, stock plus crypto trading web app that distinguishes itself from similar apps by charging no fees.
A leading Canadian fintech business founded in Autumn of 2014 exclusively as a robo-advisor algorithmic automated trading platform named Wealthsimple Invest, it has grown significantly over the previous eight years to include Wealthsimple Trade, a zero fee discount brokerage platform.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade allows Canadian investors to trade both single stocks and also ETFs without paying any commissions. The exception is when trading stocks which are listed in USD currency. In that case, they will charge a currency conversion fee when buying and selling. But, past us are the times of paying $7-12 per each trade with digital discount brokerages as was common just a couple years past.
How Much in Funds do I Need in Order to Start Investing on Wealthsimple Trade?
Wealthsimple is awesome in that they will allow Canadians to make a minimum deposit of just $1. Many alternative banks and brokerages have sizeable initial deposit amounts of 1k-$5,000. This makes it impossible for the typical new investor to start investing. With Wealthsimple Trade, one doesn’t have to be wealthy to begin trading stocks and ETFs.
But Does Wealthsimple Trade Offer Registered Accounts?
Of course. Wealthsimple Trade has available both CRA registered and non-registered accounts. One may choose between both RRSP and TFSA account types during the setup process.
So Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade has a modern mobile app that is available to download on IOS and Android. The app makes the registration phase and trading of stocks and ETFs easy.
So Is Wealthsimple Trade Secure?
Of course. Wealthsimple Trade is secure. Wealthsimple boasts more than 15 billion Canadian of Assets Under Management . they’ve been operating for more than 7 years and also employs over 600 people. The primary owner is the respected public Canadian company Power Corp of Canada. Weapthsimple Trade was the first no-fees digital brokerage operating in Canada.
How Can I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it incredibly simple to deposit to an account. Simply connect to a chequing or savings account with your Trade account, and add money to your account in just a couple of steps. Deposits from banks to Wealthsimple usually take just a few days. Funds can the same way can be moved back to a chequing or savings account through the exact same process.
Which Other Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is alternative to E-transfers that allow one to quickly and efficiently transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to prepare for this tax season and submit your tax return online free. It’s pitched as simple, accurate and always totally free tax return filing.
Wealthsimple Spend – A hybrid prepaid visa and savings account which lets you to get 1% cashback on your everyday spending, as well as earn a very competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform that includes a ton of different courses on topics like saving, investments, crypto, home buying and much more.
Every one of the mentioned products, along with Wealthsimple Trade may be found on the app or on the site with one login.
But How Can I Get Started Using Wealthsimple Trade?
Click here to setup a new Wealthsimple Trade account. For a special registration bonus for our readers you’ll get the equivalent cash value of a random stock worth $25 up to $4,500 Canadian when you make an initial deposit to your account.
So What if I Still Have Additional Questions About Is Wealthsimple Good For Beginners?
If this review still hasn’t answered each of your questions, and you’re still looking for additional specific facts relating to Is Wealthsimple Good For Beginners, check out the Wealthsimple website to find answers to all your questions.