What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian web based investing, stocks and crypto trading web app that sets itself apart from the competition by charging no fees.
A Toronto, Ontario based fintech company launched in Fall of twenty fourteen originally as a robo-advisor automated trading app called Wealthsimple Invest, it has grown considerably over the past eight years to also feature Wealthsimple Trade, a zero fee discount brokerage platform.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade lets consumers trade both single stocks and also ETFs without needing to pay any fees. The exception to this is when you’re trading securities that are displayed in US Dollars. In which case, they charge a small currency conversion fee when buying and selling. But, gone are the days of paying $7-12 per each trade with online discount brokerages as was the norm a couple years past.
How Much in Funds do I Need to Start Investing With Wealthsimple Trade?
Wealthsimple is unique in that they will allow Canadians to make a minimum deposit of only $1. Many traditional banks and discount brokerages have quite large minimum deposit amounts of $1,000-$5,000. This makes it tough for the common investor to get started. With Wealthsimple Trade, you don’t have to already be wealthy to start trading stocks and ETFs.
So Does Wealthsimple Trade Offer TFSA Accounts?
They do. Wealthsimple Trade has available registered and non-registered accounts. One are free to select between both RRSP and TFSA accounts in the setup process.
Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade offers a easy to use mobile app available on Apple and also Android. The mobile app makes the enrollment phase and also trading of stocks and ETFs incredibly easy.
But Is Wealthsimple Trade Legit?
For sure. Wealthsimple Trade is trustworthy. Wealthsimple boasts over 15 billion CAD in Assets Under Management (AUM). This company has been doing business for more than 7 years and currently employs over 600 people. The primary shareholder is the respected public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the very first no-fees online brokerage to operate in Canada.
But How Does One Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it easy to add money to a new account. Simply connect to a chequing or savings account with your Trade account, and then fund your account in only a few clicks. Deposits from your bank to Wealthsimple usually take a couple of days. Funds can also be moved to a chequing or savings accounts through the exact same steps.
Which Other Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is equivalent to e-transfers which allow anyone to quickly and efficiently send cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to get ready for tax year and submit your tax return online free. It’s described as easy, accurate and always free tax return filing.
Wealthsimple Spend – A combination pre paid debit card and savings account that allows one to get 1% cashback on all your everyday spending, and also earn a competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform that includes a variety of courses on saving, investments, crypto, real estate and more.
Each of the above features, along with Wealthsimple Trade can be found on the app and on their site with one login.
How Can I Get Started With Wealthsimple Trade?
Click here to signup for a Wealthsimple Trade account. For a special signup bonus to our audience you will receive the cash value of a share worth up to $4,500 Canadian when you fund your account.
But What if I Still Have Questions Concerning Wealthsimple Youtube?
If this blog post hasn’t answered each of your questions, and you’re still searching for additional information relating to Wealthsimple Youtube, check out the Wealthsimple site to find answers to each your questions.