What is Wealthsimple?
Wealthsimple is a simple to use Canadian online investing, securities and crypto trading platform that differentiates itself from similar apps by charging no fees.
A fintech company launched in the Fall twenty fourteen exclusively as a robo advisor algorithmic trading platform named Wealthsimple Invest, it has improved substantially over the last eight years to feature Wealthsimple Trade, a zero fee discount brokerage platform.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade lets Canadian investors to trade stand alone stocks and ETFs without needing to pay any fees. The exception is when you’re trading ETFs and stocks that are listed in USD. In this case, they charge a small currency conversion fee when buying and selling. However, past us are the days of paying more than $7 per trade with discount brokerages as was expected just a couple years past.
How Much Money Will I Need to Have to Begin Investing on Wealthsimple Trade?
Wealthsimple is cool such that they will allow new customers to make a minimum deposit of just $1. Most traditional banks and brokerages have quite large minimum deposit amounts of 1k-5K. This makes it hard for the every day new investor to start. With Wealthsimple Trade, one doesn’t need to already be wealthy to get started with trading stocks and ETFs.
So Does Wealthsimple Trade Have TFSA Accounts?
Of course. Wealthsimple Trade offers both registered and non-CRA-registered account types. You are able to select between both RRSP and TFSA account types during the setup wizard.
So Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade has a well designed mobile app that is offered to download on both IOS and Google Play. The smartphone app makes the registration phase and trading of stocks and ETFs very simple.
Is Wealthsimple Trade Trustworthy?
. Wealthsimple Trade is trustworthy. Wealthsimple boasts more than 15 billion CAD in Assets Under Management . they’ve been expanding for more than 7 years and also currently employs more than 600 Canadians. The main shareholder is the publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the first no-fee digital discount brokerage operating in Canada.
How Does One Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it simple to add money to an account. Simply connect a chequing or savings account to your Trade account, and add funds to your account in only a couple of steps. Deposits from financial institutions to Wealthsimple normally take just a couple of days. Funds can the same way can be withdrawn your chequing or savings account by using the same steps.
Which Other Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is alternative to e-transfers that allows you to quickly and efficiently send cash to friends and family in Canada.
Wealthsimple Tax – Everything you require to prepare for tax season and submit your taxes online free. It’s described as easy, accurate and always free tax return filing.
Wealthsimple Spend – A combination prepaid debit card and savings account that allows you to recieve 1% cashback on your everyday purchases, as well as get a very competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform that includes a variety of courses on saving, investments, crypto, home buying and more.
All of the mentioned features, including Wealthsimple Trade can be accessed inside the app or on their site with your Wealthsimple login.
So How do I Begin With Wealthsimple Trade?
Click here to register for a new Wealthsimple Trade account. For a special registration bonus offer for our audience you’ll receive the equivalent cash value of a stock worth $25 up to $4,500 CAD once you add funds to your account.
But What if I Still Have Questions Concerning Wealthsimple 2021 Tax Return?
If this review didn’t given you the answers to all of your questions, and you’re looking for more specific answers about Wealthsimple 2021 Tax Return, check out the Wealthsimple site for answers to all your questions.