What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian digital investing, securities plus crypto trading web app that differentiates itself from similar apps by charging no fees.
A Toronto, Ontario based fintech business founded in Fall twenty fourteen originally as a robo advisor algorithmic automated trading platform named Wealthsimple Invest, it has changed substantially over the previous 8 years to include Wealthsimple Trade, a zero fees discount brokerage platform.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade allows consumers trade both stand alone stocks and ETFs without paying fees. The exception is when you’re trading ETFs and stocks that are denominated in USD. In this case, they charge a currency conversion fee when buying and selling. But, behind us are the days of having to pay Upwards of $7 per trade with discount brokerages as was expected only a couple years past.
Exactly How Much Money Will I Need to Have in Order to Start With Wealthsimple Trade?
Wealthsimple is special in that they allow investors to make a minimum deposit of only $1. Most traditional banks and discount brokerages have quite large min deposit amounts of 1k-$5000. This makes it hard for the normal investor to get started. With Wealthsimple Trade, you don’t have to be wealthy to begin trading stocks and ETFs.
So Does Wealthsimple Trade Have RRSP Accounts?
It does. Wealthsimple Trade has available both CRA registered and non-CRA-registered account types. You may select between both RRSP and TFSA accounts during the setup process.
So Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade offers a easy to use mobile app available on both IOS and Google Play. The mobile app makes the registration phase and the trading of stocks and ETFs easy.
So Is Wealthsimple Trade Secure?
. Wealthsimple Trade is secure. Wealthsimple has over 15 billion CAD of Assets Under Management (AUM). These folks have been operating for more than 7 years and employs about 600 folks. The controlling shareholder is the respected public Canadian entity Power Corp of Canada. Weapthsimple Trade is the very first no-fee digital brokerage to operate in Canada.
How Do I Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it very easy to deposit to an account. Simply connect to a chequing or savings account to your Trade account, then fund your account in just a few clicks. Deposits from banks to Wealthsimple typically take just a few days. Funds can the same way can be withdrawn a chequing or savings account through the same process.
What Additional Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An equivalent to Interac e-Transfers which allows anyone to quickly and simply send cash to friends and family in Canada.
Wealthsimple Tax – Everything you need to prepare for tax season and submit your taxes online free. It’s advertised as simple, accurate and always free tax filing.
Wealthsimple Spend – A hybrid prepaid debit card and savings product that lets one to get 1% cashback on all your purchases, and also earn a very competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform which includes a bunch of different online courses on topics like saving, investments, crypto, real estate and more.
Each of the mentioned products, including Wealthsimple Trade may be found in the app and at the site with your Wealthsimple login.
So How do I Get Started With Wealthsimple Trade?
Click here to register for your Wealthsimple Trade account. As a special registration bonus offer for our audience you will get the cash value of a random Canadian stock valued at $25 up to $4,500 Canadian as soon as you deposit to your account.
But What if I Still Have Questions Concerning Wealthsimple Zero Commission Reddit?
If this review still hasn’t given you the answers to each of your questions, and you’re still browsing for more specific answers about Wealthsimple Zero Commission Reddit, visit the Wealthsimple website to get answers to all your questions.