What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian web based investing, stock and crypto trading app that distinguishes itself from other apps by charging absolutely no fees.
A Toronto, Ontario based online financial services company founded in the Fall 2014 originally as a robo-advisor algorithmic trading platform called Wealthsimple Invest, it has grown considerably over the previous eight years to also feature Wealthsimple Trade, a no fees discount brokerage app.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade lets investors to trade both single stocks and ETFs without needing to pay any commissions. The exception is when you’re trading securities that are denominated in USD. In that case, they do charge a nominal currency conversion fee when buying and selling. But, behind us are the days of having to pay more than $7 per each trade with digital discount brokerages as was common only a couple years past.
Exactly How Much Cash do I Need to Have to Start Investing on Wealthsimple Trade?
Wealthsimple is special such that they allow new customers to make a minimum deposit of only $1. The majority of traditional banks and discount brokerages have sizeable minimum deposit amounts of 1k-5k. This makes it difficult for the common new investor to get started. With Wealthsimple Trade, one doesn’t have to be wealthy to start trading stocks and ETFs.
Does Wealthsimple Trade Offer Registered Accounts?
Of course. Wealthsimple Trade has available CRA registered and non-CRA-registered accounts. You can choose between both RRSP and TFSA account types during the setup phase.
But Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade offers a modern mobile app that is available on Apple and Google Play. The app makes the enrollment process and trading of stocks and ETFs incredibly a breeze.
Is Wealthsimple Trade Secure?
. Wealthsimple Trade is secure. Wealthsimple boasts in excess of 15 billion Canadian of Assets Under Management . These folks have been expanding for more than 7 years and now employs about 600 folks. The majority owner is the large public Canadian company Power Corp of Canada. Weapthsimple Trade was the very first no-fee digital discount brokerage to operate in Canada.
So How Do I Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it so easy to add funds to your account. Simply connect to a chequing or savings account with your Trade account, then add money to your account in simply a few clicks. Deposits from banks to Wealthsimple normally take just a couple of days. Funds can also be withdrawn your chequing or savings account with the same process.
What Additional Benefits and Products Are Available?
Wealthsimple Cash – An equivalent to e-Transfers which allow one to quickly and easily send money to friends and family in Canada.
Wealthsimple Tax – Everything you require to get ready for this tax year and submit your taxes online for free. It’s pitched to be simple, accurate and always free tax filing.
Wealthsimple Spend – A combination prepaid visa and savings account which allows you to get 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 that includes a ton of different courses on topics like saving, investments, crypto, real estate and much more.
Every one of the mentioned features, including Wealthsimple Trade may be found on the app and on the website with your Wealthsimple login.
But How do I Begin Using Wealthsimple Trade?
Click here to signup for your Wealthsimple Trade account. As an exclusive registration bonus offer to our audience you will get the cash value of a stock valued at up to $4,500 Canadian once you fund your account.
But What if I Still Have Additional Questions Concerning Wealthsimple Yield?
If this article didn’t answered each of your questions, and you’re still looking for additional specific info about Wealthsimple Yield, check out the Wealthsimple website to find answers to every one of your questions.