What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian online investing, securities and crypto trading app that differentiates itself from the competition by charging absolutely no fees.
A leading Canadian online financial services business launched in the Fall of 2014 originally as a robo advisor algorithmic trading app called Wealthsimple Invest, it has improved substantially over the past 8 years to also include Wealthsimple Trade, a zero fee discount brokerage platform.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade allows investors to trade individual stocks and also ETFs without paying commissions. The exception to this is when trading securities which are displayed in USD. In this case, they 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 each trade with online discount brokerages as was the norm only a few years past.
Exactly How Much Cash Will I Need to Have in Order to Begin Investing on Wealthsimple Trade?
Wealthsimple is awesome such that they allow new customers to make a minimum deposit of just $1. Most alternative banks and brokerages have large min deposit amounts of 1k-5k. This makes it difficult for the every day new investor to start investing. With Wealthsimple Trade, one doesn’t need to already be wealthy to begin trading stocks and ETFs.
Does Wealthsimple Trade Have TFSA Accounts?
They do. Wealthsimple Trade has available registered and non-CRA-registered accounts. One may choose between both RRSP and TFSA account types in the setup process.
So Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade offers a convenient mobile app offered to download on iOS and Android. The app makes the registration steps and the trading of stocks and ETFs truly a breeze.
But Is Wealthsimple Trade Secure?
Yes. Wealthsimple Trade is trustworthy. Wealthsimple boasts more than 15 billion CAD of Assets Under Management (AUM). This company has been operating for more than 7 years and also right now employs over 600 folks. The main shareholder is the admired publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade is the very first no-fees online brokerage to operate in Canada.
How Can I Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it incredibly simple to fund your account. Simply connect the app to a chequing or savings account with your Trade account, then fund your account in only a few clicks. Deposits from banks to Wealthsimple normally take just a couple of days. Funds can the same way can be moved back to a chequing or savings account using the exact same steps.
Which Other Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is alternative to e-transfers which allows you to quickly and easily send money to friends and family in Canada.
Wealthsimple Tax – Everything you require to get ready for this tax season and submit your taxes online free. It’s described to be easy, accurate and always free tax filing.
Wealthsimple Spend – A hybrid pre paid debit card and savings account which lets you to get 1% cashback on all your everyday spending, as well as get a competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform that offers a bunch of different online courses on saving, investing, crypto, home buying and much more.
Each of the above products, along with Wealthsimple Trade may be accessed inside the mobile app and from their website with your Wealthsimple login.
How Should I Start With Wealthsimple Trade?
Click here to create your Wealthsimple Trade account. As an exclusive signup bonus to our readers you will receive the equivalent cash value of a random share worth $25 up to $4,500 CAD as soon as you add funds to your account.
But What if I Still Have Additional Questions Related to Wealthsimple 0.75 Interest?
If this blog post still hasn’t answered all of your questions, and you’re browsing for additional specific information about Wealthsimple 0.75 Interest, go to the Wealthsimple site to find answers to every one of your questions.