What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian web based investing, securities and crypto trading app that distinguishes itself from similar apps by charging no fees.
A Toronto, Ontario based fintech company founded in the Fall of twenty fourteen exclusively as a robo-advisor algorithmic automated trading platform named Wealthsimple Invest, it has grown considerably over the last 8 years to feature Wealthsimple Trade, a zero fee discount brokerage service.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade allows investors to trade both stand alone stocks and also ETFs without needing to pay commissions. The exception to this is when you’re trading ETFs and stocks which are displayed in US Dollars. In that case, they will charge a currency conversion fee both when buying and selling. However, past us are the times of paying Upwards of $7 per each trade with discount brokerages as was the case just a couple years past.
Exactly How Much in Funds do I Need to Start With Wealthsimple Trade?
Wealthsimple is special such that they will allow Canadians to make a minimum deposit of just $1. Many traditional banks and brokerages have large min deposit amounts of $1,000-5K. This makes it tough for the everyday investor to start. With Wealthsimple Trade, you don’t have to already be wealthy to start trading stocks and ETFs.
So Does Wealthsimple Trade Offer TFSA Accounts?
It does. Wealthsimple Trade has available both registered and non-registered accounts. You are free to select both RRSP and TFSA accounts during the setup process.
Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade has a well designed mobile app that is offered on IOS and also Android. The smartphone app makes the registration process and also trading of stocks and ETFs very easy.
Is Wealthsimple Trade Safe?
Of course. Wealthsimple Trade is trustworthy. Wealthsimple boasts more than 15 billion Canadian of Assets Under Management (AUM). they’ve been in business for more than 7 years and currently employs roughly 600 folks. The majority shareholder is the publicly traded Canadian entity Power Corp of Canada. Weapthsimple Trade was the very first no-fees online discount brokerage to operate in Canada.
But How Does One Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it quite straight forward to add funds to your new account. Just connect a chequing or savings account to your Trade account, and fund your account in simply a few clicks. Deposits from banks to Wealthsimple usually take only a couple of days. Funds can also be withdrawn your chequing or savings accounts through the exact same steps.
Which Other Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is alternative to E-transfers that allows you to quickly and easily transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you require to prepare for tax season and submit your taxes online free. It’s pitched to be easy, accurate and always free tax return filing.
Wealthsimple Spend – A hybrid prepaid debit card and savings account that lets you to get 1% cashback on all your purchases, as well as earn a competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform which includes a variety of online courses on different topics such as saving, investing, crypto, mortgages and more.
Each of the above products, along with Wealthsimple Trade may be found on the app and from their website with a single login.
How do I Begin With Wealthsimple Trade?
Click here to create your Wealthsimple Trade account. As an exclusive signup bonus for our audience you’ll get the cash value of a Canadian stock worth up to $4,500 CAD when you add funds to your account.
So What if I Still Have Questions Related to Wealthsimple 15 Minute Delay?
If this blog post hasn’t given you the answers to all of your questions, and you’re looking for more information about Wealthsimple 15 Minute Delay, visit the Wealthsimple website to find answers to all your questions.