What is Wealthsimple?
Wealthsimple is an easy to use Canadian web based Financial, securities plus crypto trading web app that distinguishes itself from similar apps by charging no fees.
A fintech business launched in the Fall of twenty fourteen originally as a robo-advisor automated trading platform named Wealthsimple Invest, it has changed significantly over the previous 8 years to also include Wealthsimple Trade, a no fee discount brokerage app.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade lets Canadian investors trade both single stocks and also ETFs without having to pay fees. The exception is when you’re trading ETFs and stocks that are denominated in USD currency. In that case, they charge a nominal currency conversion fee when buying and selling. However, gone are the times of paying Upwards of $7 for each trade with online discount brokerages as was expected just a couple years past.
Exactly How Much in Funds Will I Need to Begin Investing With Wealthsimple Trade?
Wealthsimple is unique in that they will allow Canadians to make a minimum deposit of only $1. The majority of traditional banks and brokerages have quite large min deposit amounts of $1,000-$5,000. This makes it hard for the typical investor to start. With Wealthsimple Trade, you don’t need to be wealthy to start trading stocks and ETFs.
So Does Wealthsimple Trade Offer TFSA Accounts?
Yes. Wealthsimple Trade offers both registered and non-registered account types. One are able to choose between both RRSP and TFSA account types in the setup phase.
But Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade offers a easy to use mobile app available to download on Apple and also Google Play. The mobile app makes the enrollment steps and also trading of stocks and ETFs very simple.
So Is Wealthsimple Trade Secure?
For sure. Wealthsimple Trade is legit. Wealthsimple reports in excess of 15 billion CAD in Assets Under Management (AUM). These folks have been doing business for more than 7 years and now employs over 600 Canadians. The primary shareholder is the respected publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the first no-fees digital discount brokerage operating in Canada.
But How Do I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it very simple to deposit to your account. Just connect a chequing or savings account to your Trade account, then add money to your account in only a few clicks. Deposits from banks to Wealthsimple usually take only a couple of days. Funds can also be moved to a chequing or savings account with the exact same method.
Which Other Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is alternative to E-transfers that allows anyone to quickly and simply send money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for tax year and file your taxes online free. It’s described as simple, accurate and always totally free tax filing.
Wealthsimple Spend – A hybrid pre paid debit card and savings account that allows one to get 1% cashback on your spending, and also earn a very competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform that offers a bunch of different courses on saving, investing, crypto, real estate and much more.
Each of the listed products, including Wealthsimple Trade can be accessed in the app and on the website with your Wealthsimple login.
How Can I Begin Using Wealthsimple Trade?
Click here to create a new Wealthsimple Trade account. For a special registration bonus to our readers you will receive the cash value of a Canadian stock worth up to $4,500 CAD once you add funds to your account.
But What if I Still Have Additional Questions Related to Wealthsimple Zfl?
If this blog post hasn’t answered each of your questions, and you’re still browsing for further specific info about Wealthsimple Zfl, go to the Wealthsimple site to find answers to all your questions.