What is Wealthsimple?
Wealthsimple is a simple to use Canadian web based Financial, securities plus crypto trading platform that differentiates itself from its competitors by charging no fees.
A leading Canadian fintech company launched in Autumn twenty fourteen exclusively as a robo advisor algorithmic automated trading platform named Wealthsimple Invest, it has changed considerably over the past 8 years to feature Wealthsimple Trade, a no fee discount brokerage platform.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade allows Canadian investors to trade single stocks and ETFs without having to pay any fees. The exception is when trading stocks and ETFs that are listed in US Dollars. In that case, they charge a currency conversion fee when buying and selling. However, past us are the days of paying more than $7 per each trade with discount brokerages as was the case just a few years ago.
Exactly How Much Cash do I Need to Have to Get Started With Wealthsimple Trade?
Wealthsimple is special in that they allow Canadian investors to make a minimum deposit of only $1. Many alternative banks and discount brokerages have large minimum deposit amounts of $1000-$5,000. This makes it impossible for the everyday new investor to get started. With Wealthsimple Trade, you won’t need to already be wealthy to start trading stocks and ETFs.
So Does Wealthsimple Trade Have TFSA Accounts?
Yes. Wealthsimple Trade has both CRA registered and non-CRA-registered accounts. You are able to choose between both RRSP and TFSA account types in the setup wizard.
But Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade offers a convenient mobile app available to download on both iOS and also Android. The mobile app makes the signup process and also trading of stocks and ETFs truly a breeze.
So Is Wealthsimple Trade Trustworthy?
. Wealthsimple Trade is safe. Wealthsimple reports in excess of 15 billion CAD of Assets Under Management (AUM). They have been doing business for more than 7 years and now employs more than 600 people. The primary owner is the public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the first no-fee digital brokerage operating in Canada.
So How Does One Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it quite easy to add funds to a new account. Just connect the app to a chequing or savings account with your Trade account, and add funds to your account in just a few steps. Deposits from banks to Wealthsimple typically take a couple of days. Funds can also be moved to your chequing or savings accounts by using the same process.
Which Additional Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – An equivalent to E-transfers which allows you to quickly and simply transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for tax year and submit your tax return online free. It’s described as easy, accurate and always free tax return filing.
Wealthsimple Spend – A combination prepaid visa and savings account which allows you 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 platform that includes a ton of different courses on different topics such as saving, investing, crypto, real estate and much more.
Every one of the listed products, along with Wealthsimple Trade may be accessed on the app or at their website with your Wealthsimple login.
But How do I Start Using Wealthsimple Trade?
Click here to signup for your Wealthsimple Trade account. For a special registration bonus offer for our readers you will receive the equivalent cash value of a random share valued at up to $4,500 CAD when you make an initial deposit to your account.
But What if I Still Have Additional Questions About Wealthsimple 2022 Tax Calculator?
If this review didn’t given you the answers to all of your questions, and you’re still looking for further specific answers about Wealthsimple 2022 Tax Calculator, visit the Wealthsimple site for answers to each your questions.