What is Wealthsimple?
Wealthsimple is a simple to use Canadian web based investing, securities and crypto trading web app that distinguishes itself from the competition by charging absolutely no fees.
A leading Canadian fintech company launched in Autumn twenty fourteen originally as a robo-advisor trading app named Wealthsimple Invest, it has changed significantly over the past eight years to include Wealthsimple Trade, a no fees discount brokerage app.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade allows Canadian consumers trade both stand alone stocks and ETFs without needing to pay fees. The exception is when trading stocks and ETFs which are listed in US Dollars. In which case, they do charge a small currency conversion fee when buying and selling. However, past us are the days of having to pay more than $7 per trade with online discount brokerages as was common just a few years ago.
How Much in Funds do I Need to Start Investing on Wealthsimple Trade?
Wealthsimple is cool such that they allow new customers to make a minimum deposit of just $1. Most traditional banks and brokerages have quite large initial deposit amounts of $1,000-$5000. This makes it difficult for the every day investor to get started. With Wealthsimple Trade, one doesn’t have to already be wealthy to start trading stocks and ETFs.
So Does Wealthsimple Trade Have Registered Accounts?
Of course. Wealthsimple Trade has available both CRA registered and non-registered account types. One can choose between both RRSP and TFSA account types during the setup wizard.
But Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade has a well designed mobile app that is offered to download on Apple and also Android. The mobile app makes the signup steps and the trading of stocks and ETFs incredibly painless.
But Is Wealthsimple Trade Trustworthy?
For sure. Wealthsimple Trade is trustworthy. Wealthsimple reports in excess of 15 billion Canadian in Assets Under Management . This company has been operating for more than 7 years and also employs more than 600 folks. The controlling owner is the respected public Canadian entity Power Corp of Canada. Weapthsimple Trade was the very first no-fees digital discount brokerage operating in Canada.
But How Can I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it incredibly straight forward to add funds to your new account. Just connect the app to a chequing or savings account to your Trade account, and add funds to your account in just a few steps. Deposits from financial institutions to Wealthsimple normally take a few days. Funds can also be withdrawn your chequing or savings accounts by the exact same method.
What Other Benefits and Products Are Available?
Wealthsimple Cash – This is equivalent to e-transfers which allow you to quickly and simply send money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to get ready for tax year and file your taxes online for free. It’s described as easy, accurate and always free tax return filing.
Wealthsimple Spend – A combination prepaid debit card and savings product which allows one to recieve 1% cashback on all your everyday purchases, as well as earn a very competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform which includes a variety of different courses on different topics such as saving, investing, crypto, mortgages and more.
Every one of the above products, including Wealthsimple Trade may be found on the app and from the site with one login.
How Can I Start With Wealthsimple Trade?
Click here to register for a new Wealthsimple Trade account. As an exclusive registration bonus for our readers you will get the cash value of a Canadian stock worth $25 up to $4,500 CAD once you fund your account.
So What if I Still Have Additional Questions About Wealthsimple 0 Commission Reddit?
If this article didn’t given you the answers to all of your questions, and you’re searching for additional information about Wealthsimple 0 Commission Reddit, visit the Wealthsimple website for answers to every one of your questions.