What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian digital investing, securities plus crypto trading platform that sets itself apart from similar apps by charging no fees.
A leading Canadian online financial services company launched in Fall of twenty fourteen originally as a robo advisor trading app called Wealthsimple Invest, it has improved significantly over the previous eight years to feature Wealthsimple Trade, a zero fees discount brokerage service.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade allows investors trade both individual stocks and also ETFs without needing to pay commissions. The exception to this is when you’re trading stocks and ETFs which are denominated in USD. In this case, they will charge a small currency conversion fee both when buying and selling. However, behind us are the days of paying Upwards of $7 per trade with digital discount brokerages as was the norm just a few years past.
How Much Cash do I Need to Have to Get Started on Wealthsimple Trade?
Wealthsimple is unique such that they allow investors to make a minimum deposit of just $1. Most alternative banks and discount brokerages have sizeable minimum deposit amounts of $1,000-5K. This makes it tough for the normal new investor to start. With Wealthsimple Trade, you don’t have to already be wealthy to begin trading stocks and ETFs.
But Does Wealthsimple Trade Have TFSA Accounts?
Yes. Wealthsimple Trade has CRA registered and non-CRA-registered account types. One are free to choose both RRSP and TFSA account types during the setup process.
So Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade offers a well designed mobile app that is available on both iOS and also Android. The app makes the enrollment phase and the trading of stocks and ETFs a breeze.
But Is Wealthsimple Trade Legit?
Of course. Wealthsimple Trade is safe. Wealthsimple has more than 15 billion CAD in Assets Under Management . These folks have been expanding for more than 7 years and also employs about 600 Canadians. The majority shareholder is the large public Canadian company Power Corp of Canada. Weapthsimple Trade was the first no-fees digital discount brokerage operating in Canada.
But How Does One Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it incredibly simple to add funds to an account. Just connect a chequing or savings account to your Trade account, and add funds to your account in just a few steps. Deposits from your bank to Wealthsimple usually take just a couple of days. Funds can just as easily be moved to a chequing or savings account through the exact same process.
Which Additional Features and Products Are Available?
Wealthsimple Cash – This is equivalent to e-Transfers which allows you to quickly and efficiently transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you need to prepare for tax season and file your tax return online for free. It’s described to be simple, accurate and always free tax return filing.
Wealthsimple Spend – A hybrid pre paid debit card and savings account that allows you to earn 1% cashback on all your purchases, as well as get a very competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance platform which offers a bunch of online courses on different topics such as saving, investments, crypto, real estate and much more.
All of the above products, including Wealthsimple Trade may be found in the app and at their website with your Wealthsimple login.
So How Should I Begin Using Wealthsimple Trade?
Click here to create your Wealthsimple Trade account. As a special signup bonus for our readers you’ll receive the equivalent cash value of a share worth up to $4,500 CAD when you add funds to your account.
What if I Still Have Questions Concerning Wealthsimple Cash 0.75?
If this review hasn’t answered all of your questions, and you’re still searching for additional information relating to Wealthsimple Cash 0.75, visit the Wealthsimple site to find answers to every one of your questions.