What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian online investing, securities plus crypto trading web app that distinguishes itself from other apps by charging no fees.
A fintech business founded in Autumn twenty fourteen originally as a robo advisor trading app named Wealthsimple Invest, it has changed significantly over the last eight years to feature Wealthsimple Trade, a no fee discount brokerage service.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade allows Canadian consumers trade single stocks and ETFs without paying any commissions. The exception is when trading stocks which are listed in US Dollars. In this case, they will charge a nominal currency conversion fee both when buying and selling. But, past us are the days of paying $7-12 per each trade with online discount brokerages as was common just a couple years past.
Exactly How Much Money do I Need to Have in Order to Start on Wealthsimple Trade?
Wealthsimple is awesome in that they allow Canadian investors to make a minimum deposit of just $1. Many alternative banks and brokerages have sizeable minimum deposit amounts of 1K-$5000. This makes it impossible for the everyday investor to get started. With Wealthsimple Trade, you don’t need to already be wealthy to start trading stocks and ETFs.
But Does Wealthsimple Trade Offer Registered Accounts?
It does. Wealthsimple Trade has available CRA registered and non-registered account types. You are able to select between both RRSP and TFSA account types during the setup process.
So Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade offers a easy to use mobile app that is offered on Apple and also Google Play. The smartphone app makes the signup steps and trading of stocks and ETFs super a breeze.
But Is Wealthsimple Trade Trustworthy?
. Wealthsimple Trade is trustworthy. Wealthsimple boasts in excess of 15 billion Canadian of Assets Under Management . they’ve been expanding for more than 7 years and also now employs roughly 600 folks. The controlling shareholder is the large public Canadian company Power Corp of Canada. Weapthsimple Trade is the very first no-fee digital discount brokerage to operate in Canada.
How Can I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it quite simple to fund a new account. Simply connect to a chequing or savings account with your Trade account, and add money to your account in simply a couple of steps. Deposits from financial institutions to Wealthsimple typically take just a few days. Funds can also be moved back to a chequing or savings accounts by the exact same method.
Which Other Features and Products Are Available?
Wealthsimple Cash – This is alternative to Interac e-transfers which allow one to quickly and efficiently send cash to friends and family in Canada.
Wealthsimple Tax – Everything you require to get ready for tax season and file your tax return online for free. It’s described as easy, accurate and always free income tax filing.
Wealthsimple Spend – A combination prepaid visa and savings product that lets one to earn 1% cashback on all your everyday spending, and also get a competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform which offers a bunch of online courses on topics like saving, investments, crypto, home buying and much more.
Each of the listed products, along with Wealthsimple Trade can be accessed inside the app or on the site with one login.
So How do I Start With Wealthsimple Trade?
Click here to setup a Wealthsimple Trade account. For an exclusive registration bonus for our readers you’ll receive the equivalent cash value of a share valued at $25 up to $4,500 Canadian once you fund your account.
But What if I Still Have Questions Concerning Wealthsimple Trackid=sp-006?
If this blog post hasn’t answered each of your questions, and you’re still browsing for further info relating to Wealthsimple Trackid=sp-006, visit the Wealthsimple website for answers to each your questions.