What is Wealthsimple?
Wealthsimple is a simple to use Canadian online investing, securities plus crypto trading web app that distinguishes itself from the competition by charging absolutely no fees.
A fintech company founded in Fall of twenty fourteen exclusively as a robo-advisor automated trading app called Wealthsimple Invest, it has evolved considerably over the last eight years to feature Wealthsimple Trade, a zero fees discount brokerage platform.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade lets investors to trade stand alone stocks and ETFs without having to pay any fees. The exception to this is when you’re trading ETFs and stocks which are denominated in USD currency. In that case, they do charge a currency conversion fee both when buying and selling. But, behind us are the times of having to pay $7-12 per trade with online discount brokerages as was the case only a few years ago.
How Much Cash do I Need to Start Investing on Wealthsimple Trade?
Wealthsimple is unique in that they will allow Canadians to make a minimum deposit of only $1. Many alternative banks and brokerages have quite large min deposit amounts of $1000-5K. This makes it impossible for the every day new investor to get started. With Wealthsimple Trade, you won’t have to already be wealthy to get started with trading stocks and ETFs.
But Does Wealthsimple Trade Have Registered Accounts?
They do. Wealthsimple Trade has both CRA registered and non-CRA-registered account types. One may choose both RRSP and TFSA account types during the setup process.
But Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade has a convenient mobile app available to download on both IOS and Google Play. The app makes the signup steps and also trading of stocks and ETFs super a breeze.
So Is Wealthsimple Trade Legit?
. Wealthsimple Trade is legit. Wealthsimple boasts in excess of 15 billion CAD of Assets Under Management . they’ve been expanding for more than 7 years and currently employs roughly 600 people. The main shareholder is the publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade is the very first no-fee online brokerage operating in Canada.
How Does One Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it very straight forward to deposit to your new account. Simply connect a chequing or savings account with your Trade account, then fund your account in only a few steps. Deposits from financial institutions to Wealthsimple typically take a couple of days. Funds can the same way can be moved back to your chequing or savings account through the exact same method.
What Additional Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is equivalent to Interac E-Transfers that allows you to quickly and easily transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you need to prepare for this tax season and file your taxes online free. It’s pitched to be easy, accurate and always totally free tax return filing.
Wealthsimple Spend – A combination prepaid debit card and savings account which allows you to get 1% cashback on your purchases, and also earn a very competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance platform which offers a ton of different online courses on saving, investing, crypto, real estate and much more.
All of the above products, including Wealthsimple Trade may be found in the app and on their site with one login.
But How do I Start With Wealthsimple Trade?
Click here to create your Wealthsimple Trade account. As an exclusive signup bonus offer to our audience you’ll receive the equivalent cash value of a random share worth $25 up to $4,500 CAD as soon as you add funds to your account.
What if I Still Have Additional Questions About Wealthsimple Xeqt?
If this blog post still hasn’t given you the answers to each of your questions, and you’re still looking for further specific facts relating to Wealthsimple Xeqt, visit the Wealthsimple site to get answers to all your questions.