What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian web based Financial, stocks plus crypto trading app that differentiates itself from its competitors by charging no fees.
A leading Canadian online financial services company founded in Fall twenty fourteen exclusively as a robo advisor trading app named Wealthsimple Invest, it has improved significantly over the previous 8 years to feature Wealthsimple Trade, a zero fees discount brokerage app.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade lets Canadian consumers to trade both individual stocks and ETFs without having to pay any commissions. The exception is when trading ETFs and stocks that are denominated in US Dollars. In which case, they charge a currency conversion fee both when buying and selling. However, behind us are the times of paying $7-12 per each trade with online discount brokerages as was the norm a couple years past.
How Much Cash Will I Need in Order to Start Investing With Wealthsimple Trade?
Wealthsimple is unique in that they will allow Canadians to make a minimum deposit of only $1. Most traditional banks and discount brokerages have quite large initial deposit amounts of 1k-5k. This makes it tough for the common investor to start investing. With Wealthsimple Trade, one doesn’t need to already be wealthy to begin trading stocks and ETFs.
But Does Wealthsimple Trade Offer Registered Accounts?
Of course. Wealthsimple Trade has both registered and non-registered accounts. One are able to choose between both RRSP and TFSA accounts in the setup phase.
Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade offers a well designed mobile app that is available to download on both Apple and Google Play. The mobile app makes the enrollment process and the trading of stocks and ETFs truly simple.
Is Wealthsimple Trade Legit?
Definitely. Wealthsimple Trade is trustworthy. Wealthsimple reports over 15 billion CAD in Assets Under Management (AUM). they’ve been doing business for more than 7 years and also at this time employs roughly 600 Canadians. The controlling shareholder is the publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade is the first no-fees online discount brokerage to operate in Canada.
How Do I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it very easy to add funds to a new account. Just connect to a chequing or savings account to your Trade account, and then fund your account in simply a couple of steps. Deposits from financial institutions to Wealthsimple usually take just a couple of days. Funds can just as easily be moved back to a chequing or savings account by using the exact same steps.
What Additional Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An alternative to Interac e-transfers which allows one to quickly and easily transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to prepare for this tax year and submit your tax return online for free. It’s described as simple, accurate and always totally free tax return filing.
Wealthsimple Spend – A hybrid pre paid visa and savings account which allows you to get 1% cashback on your spending, and also earn a very competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform which includes a bunch of different online courses on saving, investing, crypto, home buying and much more.
All of the mentioned products, including Wealthsimple Trade may be found in the app or from the website with a single login.
But How Can I Get Started With Wealthsimple Trade?
Click here to signup for a new Wealthsimple Trade account. For a special registration bonus offer for our readers you will receive the cash value of a Canadian stock valued at $25 up to $4,500 CAD once you make an initial deposit to your account.
So What if I Still Have Additional Questions Concerning Wealthsimple 1.5 Fee?
If this blog post didn’t given you the answers to all of your questions, and you’re still browsing for further specific info relating to Wealthsimple 1.5 Fee, visit the Wealthsimple site to get answers to each your questions.