What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian online investing, stock plus crypto trading platform that distinguishes itself from similar apps by charging absolutely no fees.
A leading Canadian fintech company launched in the Fall of twenty fourteen originally as a robo advisor algorithmic automated trading platform called Wealthsimple Invest, it has evolved significantly over the last eight years to also include Wealthsimple Trade, a no fee discount brokerage app.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade allows Canadian consumers trade both individual stocks and also ETFs without having to pay commissions. The exception is when trading ETFs and stocks which are listed in USD currency. In that case, they charge a currency conversion fee both when buying and selling. However, behind us are the times of having to pay $7-12 per each trade with online discount brokerages as was normal just a few years past.
Exactly How Much Money do I Need in Order to Get Started on Wealthsimple Trade?
Wealthsimple is awesome such that they allow Canadians to make a minimum deposit of only $1. The majority of alternative banks and brokerages have sizeable minimum deposit amounts of $1,000-5k. This makes it tough for the typical new investor to start. With Wealthsimple Trade, one doesn’t have to already be wealthy to begin trading stocks and ETFs.
So Does Wealthsimple Trade Offer Registered Accounts?
Of course. Wealthsimple Trade has registered and non-registered accounts. You may select between both RRSP and TFSA accounts during the setup phase.
But Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade offers a convenient mobile app offered on Apple and Google Play. The app makes the signup steps and the trading of stocks and ETFs very painless.
So Is Wealthsimple Trade Legit?
Yes. Wealthsimple Trade is safe. Wealthsimple boasts over 15 billion CAD of Assets Under Management (AUM). They have been operating for more than 7 years and also at this time employs over 600 people. The primary shareholder is the large public Canadian corporation Power Corp of Canada. Weapthsimple Trade was the first no-fee digital brokerage to operate in Canada.
How Can I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it easy to deposit to your new account. Simply connect to a chequing or savings account with your Trade account, and then add money to your account in only a few clicks. Deposits from your bank to Wealthsimple typically take only a couple of days. Funds can the same way can be moved back to a chequing or savings accounts with the exact same process.
Which Additional Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An equivalent to Interac E-transfers that allow one to quickly and simply transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to prepare for this tax year and file your taxes online for free. It’s described as easy, accurate and always totally free tax return filing.
Wealthsimple Spend – A combination pre paid visa and savings account which lets one to get 1% cashback on your everyday spending, and also earn a competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform that includes a variety of different online courses on saving, investments, crypto, mortgages and more.
Every one of the listed features, along with Wealthsimple Trade can be found on the mobile app and from their site with a single login.
But How do I Begin With Wealthsimple Trade?
Click here to signup for a Wealthsimple Trade account. As an exclusive signup bonus for our audience you will receive the cash value of a random share worth up to $4,500 Canadian as soon as you make an initial deposit to your account.
So What if I Still Have Questions About Wealthsimple 1 Cash Back?
If this blog post still hasn’t answered each of your questions, and you’re still looking for additional specific info relating to Wealthsimple 1 Cash Back, check out the Wealthsimple site to get answers to each your questions.