What is Wealthsimple?
Wealthsimple is a simple to use Canadian web based Financial, securities plus crypto trading web app that sets itself apart from the competition by charging absolutely no fees.
A leading Canadian online financial services company founded in Autumn of twenty fourteen originally as a robo-advisor algorithmic automated trading app named Wealthsimple Invest, it has improved considerably over the last eight years to include Wealthsimple Trade, a no fee discount brokerage service.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade allows Canadian investors to trade both individual stocks and also ETFs without needing to pay fees. The exception to this is when you’re trading stocks that are denominated in USD. In that case, they do charge a small currency conversion fee both when buying and selling. However, behind us are the days of having to pay $7-12 per each trade with digital discount brokerages as was the norm just a few years ago.
Exactly How Much Cash Will I Need to Have to Get Started With Wealthsimple Trade?
Wealthsimple is cool in that they allow investors to make a minimum deposit of just $1. Most alternative banks and brokerages have quite large initial deposit amounts of $1,000-5k. This makes it impossible for the normal investor to start. With Wealthsimple Trade, you won’t have to be wealthy to start trading stocks and ETFs.
But Does Wealthsimple Trade Offer TFSA Accounts?
Yes. Wealthsimple Trade has both registered and non-CRA-registered account types. One are able to choose both RRSP and TFSA accounts in the setup process.
So Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade offers a modern mobile app that is available to download on both IOS and Google Play. The mobile app makes the registration phase and also the trading of stocks and ETFs very a breeze.
So Is Wealthsimple Trade Safe?
Of course. Wealthsimple Trade is safe. Wealthsimple has over 15 billion CAD of Assets Under Management . They have been in business for more than 7 years and also now employs more than 600 Canadians. The main shareholder is the respected publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade was the first no-fees digital brokerage operating in Canada.
How Do I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it quite straight forward to deposit to your account. Just connect to a chequing or savings account to your Trade account, then fund your account in only a few clicks. Deposits from financial institutions to Wealthsimple typically take only a couple of days. Funds can also be moved to your chequing or savings accounts with the same method.
What Additional Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is alternative to Interac e-transfers which allow one to quickly and easily send money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to get ready for tax year and file your tax return online for free. It’s pitched to be simple, accurate and always totally free income tax filing.
Wealthsimple Spend – A hybrid pre paid debit card and savings account that allows one to earn 1% cashback on your everyday purchases, and also earn a competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance platform which offers a ton of courses on different topics such as saving, investments, crypto, mortgages and more.
All of the listed products, along with Wealthsimple Trade may be accessed inside the mobile app and on their site with one login.
But How Should I Get Started Using Wealthsimple Trade?
Click here to setup a Wealthsimple Trade account. As a special registration bonus offer for our audience you’ll get the cash value of a random share valued at $25 up to $4,500 CAD once you fund your account.
What if I Still Have Additional Questions Concerning Wealthsimple Trade 0.5 Fee?
If this article hasn’t given you the answers to each of your questions, and you’re still looking for further info about Wealthsimple Trade 0.5 Fee, go to the Wealthsimple website for answers to all your questions.