What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian digital Financial, stocks plus crypto trading platform that sets itself apart from its competitors by charging no fees.
A leading Canadian fintech company founded in the Fall of twenty fourteen exclusively as a robo-advisor algorithmic trading app named Wealthsimple Invest, it has improved substantially over the previous eight years to also include Wealthsimple Trade, a zero fee discount brokerage platform.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade lets Canadian investors to trade individual stocks and ETFs without having to pay commissions. The exception to this is when trading ETFs and stocks that are denominated in USD. In which case, they charge a nominal currency conversion fee both when buying and selling. However, gone are the times of paying $7-12 for each trade with online discount brokerages as was the norm just a couple years past.
How Much Money Will I Need to Have in Order to Start Investing With Wealthsimple Trade?
Wealthsimple is cool such that they allow new customers to make a minimum deposit of just $1. Many alternative banks and discount brokerages have sizeable minimum deposit amounts of 1k-$5000. This makes it tough for the normal new investor to start. With Wealthsimple Trade, you won’t have to already be wealthy to get started with trading stocks and ETFs.
So Does Wealthsimple Trade Offer TFSA Accounts?
It does. Wealthsimple Trade offers registered and non-CRA-registered accounts. One are free to select both RRSP and TFSA accounts in the setup process.
Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade offers a well designed mobile app that is offered on Apple and Android. The app makes the registration steps and also the trading of stocks and ETFs super a breeze.
Is Wealthsimple Trade Secure?
Of course. Wealthsimple Trade is secure. Wealthsimple has over 15 billion Canadian in Assets Under Management . They have been in business for more than 7 years and also currently employs roughly 600 Canadians. The primary shareholder is the large public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the first no-fee online discount brokerage to operate in Canada.
How Do I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it incredibly simple to deposit to your new account. Simply connect a chequing or savings account to your Trade account, then add money to your account in only a few steps. Deposits from your bank to Wealthsimple normally take a few days. Funds can just as easily be moved back to your chequing or savings accounts with the exact same method.
What Other Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An alternative to e-Transfers which allow anyone to quickly and efficiently send cash to friends and family in Canada.
Wealthsimple Tax – Everything you require to prepare for tax year and submit your taxes online for free. It’s advertised to be easy, accurate and always totally free tax return filing.
Wealthsimple Spend – A combination pre paid debit card and savings product that allows you to recieve 1% cashback on all your everyday purchases, as well as get a competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform that includes a bunch of courses on topics like saving, investing, crypto, mortgages and much more.
Every one of the listed products, along with Wealthsimple Trade can be found within the mobile app or from their website with one login.
How Should I Get Started With Wealthsimple Trade?
Click here to signup for a new Wealthsimple Trade account. As a special registration bonus for our audience you’ll receive the equivalent cash value of a random stock valued at up to $4,500 CAD when you deposit to your account.
But What if I Still Have Questions Concerning Wealthsimple Yield Meaning?
If this review hasn’t given you the answers to all of your questions, and you’re looking for additional facts relating to Wealthsimple Yield Meaning, visit the Wealthsimple site to get answers to every one of your questions.