What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian web based investing, securities plus crypto trading app that distinguishes itself from the competition by charging no fees.
A Toronto, Ontario based fintech business founded in the Fall 2014 originally as a robo advisor algorithmic trading platform called Wealthsimple Invest, it has evolved substantially over the previous 8 years to also feature Wealthsimple Trade, a zero fee discount brokerage app.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade allows Canadian investors trade single stocks and ETFs without having to pay any commissions. The exception is when you’re trading stocks and ETFs which are listed in USD. In this case, they charge a nominal currency conversion fee when buying and selling. However, past us are the times of paying $7-12 for each trade with discount brokerages as was the case a couple years ago.
How Much Money do I Need to Begin Investing With Wealthsimple Trade?
Wealthsimple is awesome such that they will allow new customers to make a minimum deposit of just $1. The majority of alternative banks and brokerages have quite large initial deposit amounts of 1K-5k. This makes it difficult for the every day new investor to start. With Wealthsimple Trade, you won’t have to already be wealthy to get started with trading stocks and ETFs.
Does Wealthsimple Trade Have Registered Accounts?
They do. Wealthsimple Trade has both registered and non-registered accounts. You can select both RRSP and TFSA accounts during the setup phase.
So Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade offers a convenient mobile app offered on both iOS and also Android. The mobile app makes the enrollment process and also the trading of stocks and ETFs super a breeze.
But Is Wealthsimple Trade Trustworthy?
Yes. Wealthsimple Trade is safe. Wealthsimple has over 15 billion CAD of Assets Under Management . they’ve been operating for more than 7 years and right now employs about 600 people. The main shareholder is the large public Canadian company Power Corp of Canada. Weapthsimple Trade is the first no-fees online discount brokerage operating in Canada.
But How Do I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it incredibly simple to deposit to an account. Simply connect a chequing or savings account to your Trade account, then fund your account in simply a few clicks. Deposits from your bank to Wealthsimple typically take just a few days. Funds can just as easily be withdrawn your chequing or savings accounts through the exact same process.
Which Other Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is equivalent to Interac E-Transfers that allow anyone to quickly and easily send money to friends and family in Canada.
Wealthsimple Tax – Everything you need to prepare for tax season and submit your taxes online for free. It’s described to be easy, accurate and always totally free tax return filing.
Wealthsimple Spend – A combination pre paid debit card and savings product which lets you to earn 1% cashback on all your spending, as well as get a competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform which offers a variety of courses on saving, investments, crypto, real estate and much more.
Every one of the above products, along with Wealthsimple Trade may be found in the mobile app or on their website with your Wealthsimple login.
But How Should I Start With Wealthsimple Trade?
Click here to register for a new Wealthsimple Trade account. For an exclusive registration bonus offer for our audience you will get the equivalent cash value of a Canadian stock valued at $25 up to $4,500 Canadian as soon as you make an initial deposit to your account.
So What if I Still Have Questions Concerning Yahoo Finance Wealthsimple?
If this blog post still hasn’t given you the answers to each of your questions, and you’re still browsing for additional info about Yahoo Finance Wealthsimple, go to the Wealthsimple site to get answers to all your questions.