What is Wealthsimple?
Wealthsimple is a simple to use Canadian web based investing, securities plus crypto trading platform that distinguishes itself from the competition by charging absolutely no fees.
A online financial services company founded in the Fall 2014 originally as a robo-advisor algorithmic automated trading platform called Wealthsimple Invest, it has grown significantly over the last 8 years to include Wealthsimple Trade, a zero fees discount brokerage app.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade allows Canadian investors trade both stand alone stocks and also ETFs without needing to pay any fees. The exception is when trading stocks and ETFs which are listed in US Dollars. In this case, they will charge a small currency conversion fee both when buying and selling. But, past us are the times of having to pay Upwards of $7 per trade with online discount brokerages as was the case a few years past.
Exactly How Much Cash do I Need to Have to Begin Investing With Wealthsimple Trade?
Wealthsimple is special in that they allow investors to make a minimum deposit of just $1. The majority of traditional banks and brokerages have sizeable min deposit amounts of 1K-$5000. This makes it impossible for the every day new investor to start. With Wealthsimple Trade, you won’t need to be wealthy to get started with trading stocks and ETFs.
Does Wealthsimple Trade Offer Registered Accounts?
It does. Wealthsimple Trade has both registered and non-registered account types. You may choose between both RRSP and TFSA accounts during the setup process.
Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade has a easy to use mobile app that is available on iOS and Android. The app makes the enrollment phase and also the trading of stocks and ETFs very simple.
So Is Wealthsimple Trade Trustworthy?
Most definitely. Wealthsimple Trade is legit. Wealthsimple has over 15 billion Canadian in Assets Under Management (AUM). they’ve been expanding for more than 7 years and at this time employs over 600 folks. The primary owner is the large public Canadian corporation Power Corp of Canada. Weapthsimple Trade is the very first no-fees online brokerage to operate in Canada.
But How Can I Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it quite straight forward to fund an account. Simply connect a chequing or savings account to your Trade account, and add funds to your account in just a few steps. Deposits from banks to Wealthsimple normally take only a couple of days. Funds can also be moved to your chequing or savings accounts using the exact same steps.
Which Other Features and Products Are Available?
Wealthsimple Cash – An equivalent to Interac E-transfers which allows one to quickly and simply send money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to get ready for this tax season and submit your taxes online for free. It’s described as simple, accurate and always free income tax filing.
Wealthsimple Spend – A combination prepaid visa and savings product which allows you to get 1% cashback on all your everyday spending, as well as earn a competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform which offers a ton of different online courses on topics like saving, investing, crypto, home buying and much more.
Every one of the listed features, including Wealthsimple Trade can be accessed in the app and from the site with one login.
How do I Start With Wealthsimple Trade?
Click here to setup a Wealthsimple Trade account. For a special signup bonus offer to our audience you’ll get the equivalent cash value of a random stock valued at up to $4,500 CAD when you fund your account.
So What if I Still Have Questions About Veqt Wealthsimple Trade?
If this blog post didn’t answered all of your questions, and you’re looking for more specific facts about Veqt Wealthsimple Trade, go to the Wealthsimple website to find answers to each your questions.