What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian web based Financial, securities plus crypto trading web app that distinguishes itself from other apps by charging absolutely no fees.
A online financial services company launched in Autumn of twenty fourteen originally as a robo advisor automated trading app called Wealthsimple Invest, it has changed significantly over the previous eight years to also include Wealthsimple Trade, a no fee discount brokerage service.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade allows Canadian investors to trade both individual stocks and also ETFs without paying any commissions. The exception is when you’re trading ETFs and stocks which are listed in USD. In that case, they will charge a currency conversion fee when buying and selling. However, behind us are the times of paying Upwards of $7 per trade with online discount brokerages as was common a couple years past.
How Much Money Will I Need in Order to Get Started With Wealthsimple Trade?
Wealthsimple is awesome such that they will allow Canadian investors to make a minimum deposit of only $1. Most alternative banks and brokerages have quite large initial deposit amounts of 1k-$5,000. This makes it impossible for the normal new investor to start. With Wealthsimple Trade, you won’t have to be wealthy to begin trading stocks and ETFs.
Does Wealthsimple Trade Offer TFSA Accounts?
They do. Wealthsimple Trade has available both registered and non-CRA-registered accounts. One are able to select between both RRSP and TFSA accounts during the setup phase.
Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade offers a easy to use mobile app that is available on both Apple and also Android. The app makes the signup steps and also trading of stocks and ETFs super painless.
Is Wealthsimple Trade Secure?
Definitely. Wealthsimple Trade is secure. Wealthsimple boasts over 15 billion CAD in Assets Under Management (AUM). These folks have been doing business for more than 7 years and currently employs more than 600 folks. The controlling shareholder is the publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade was the very first no-fees online brokerage operating in Canada.
But How Do I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it so straight forward to add funds to an account. Just connect a chequing or savings account to your Trade account, and add money to your account in just a couple of clicks. Deposits from financial institutions to Wealthsimple typically take only a few days. Funds can the same way can be moved to your chequing or savings accounts using the exact same process.
What Additional Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An equivalent to Interac e-Transfers that allows one to quickly and easily transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you need to get ready for this tax year and file your taxes online free. It’s pitched to be simple, accurate and always totally free tax return filing.
Wealthsimple Spend – A hybrid prepaid visa and savings product which lets you to earn 1% cashback on your purchases, and also get a very competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform that includes a bunch of courses on different topics such as saving, investing, crypto, real estate and much more.
All of the listed products, along with Wealthsimple Trade may be accessed within the mobile app and at their website with one login.
So How do I Begin With Wealthsimple Trade?
Click here to create a Wealthsimple Trade account. As a special registration bonus to our audience you’ll get the equivalent cash value of a stock worth $25 up to $4,500 CAD once you make an initial deposit to your account.
But What if I Still Have Questions About Wealthsimple Time Zone?
If this article still hasn’t answered each of your questions, and you’re still browsing for more answers about Wealthsimple Time Zone, go to the Wealthsimple website to find answers to all your questions.