What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian web based Financial, stocks and crypto trading app that differentiates itself from the competition by charging absolutely no fees.
A leading Canadian fintech company founded in the Fall of twenty fourteen originally as a robo advisor trading app called Wealthsimple Invest, it has improved significantly over the past eight years to also include Wealthsimple Trade, a no fees discount brokerage service.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade allows Canadian investors trade single stocks and also ETFs without needing to pay any commissions. The exception is when you’re trading ETFs and stocks which are displayed in US Dollars. In which case, they will charge a currency conversion fee when buying and selling. However, gone are the days of paying more than $7 per each trade with discount brokerages as was the case only a few years ago.
Exactly How Much in Funds do I Need in Order to Get Started on Wealthsimple Trade?
Wealthsimple is awesome in that they allow Canadians to make a minimum deposit of just $1. Many alternative banks and discount brokerages have quite large initial deposit amounts of 1k-$5000. This makes it hard for the every day new investor to start investing. With Wealthsimple Trade, one doesn’t have to be wealthy to begin trading stocks and ETFs.
Does Wealthsimple Trade Have RRSP Accounts?
Of course. Wealthsimple Trade has available CRA registered and non-CRA-registered account types. You 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 convenient mobile app available on Apple and also Google Play. The mobile app makes the signup steps and also trading of stocks and ETFs super easy.
So Is Wealthsimple Trade Trustworthy?
Of course. Wealthsimple Trade is trustworthy. Wealthsimple boasts over 15 billion Canadian of Assets Under Management (AUM). they’ve been in business for more than 7 years and at this time employs about 600 folks. The main shareholder is the respected publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the first no-fees online discount brokerage to operate in Canada.
But How Can I Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it easy to add funds to an account. Simply connect the app to a chequing or savings account to your Trade account, then fund your account in just a couple of clicks. Deposits from financial institutions to Wealthsimple usually take only a couple of days. Funds can also be withdrawn your chequing or savings account through the same steps.
Which Additional Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is alternative to E-transfers which allows one to quickly and simply transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to get ready for this tax year and submit your tax return online for free. It’s pitched to be simple, accurate and always free income tax filing.
Wealthsimple Spend – A hybrid prepaid visa and savings account which allows you 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 learning platform which includes a bunch of different courses on saving, investing, crypto, home buying and more.
Each of the above features, including Wealthsimple Trade can be accessed inside the mobile app and from the site with one login.
So How Can I Start With Wealthsimple Trade?
Click here to signup for your Wealthsimple Trade account. As a special signup bonus to our readers you’ll receive the cash value of a random stock worth up to $4,500 CAD when you make an initial deposit to your account.
What if I Still Have Questions Concerning Zenabis Stock Wealthsimple?
If this review didn’t given you the answers to each of your questions, and you’re still looking for further facts about Zenabis Stock Wealthsimple, go to the Wealthsimple website for answers to each your questions.