What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian web based investing, stocks and crypto trading platform that sets itself apart from other apps by charging no fees.
A Toronto, Ontario based online financial services company founded in Fall of twenty fourteen originally as a robo advisor trading platform called Wealthsimple Invest, it has changed significantly over the past eight years to include Wealthsimple Trade, a no fee discount brokerage platform.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade lets Canadian investors trade individual stocks and ETFs without paying commissions. The exception is when trading securities that are displayed in USD currency. In which case, they do charge a small currency conversion fee when buying and selling. However, past us are the days of having to pay $7-12 per trade with digital discount brokerages as was normal just a few years ago.
How Much Cash Will I Need to Have in Order to Get Started With Wealthsimple Trade?
Wealthsimple is awesome such that they allow Canadians to make a minimum deposit of only $1. The majority of alternative banks and discount brokerages have large min deposit amounts of 1K-$5,000. This makes it difficult for the normal investor to start. With Wealthsimple Trade, you won’t need to already be wealthy to get started with trading stocks and ETFs.
So Does Wealthsimple Trade Offer TFSA Accounts?
They do. Wealthsimple Trade has registered and non-registered accounts. You are free to choose between both RRSP and TFSA account types in the setup wizard.
So Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade has a convenient mobile app that is available to download on IOS and also Google Play. The mobile app makes the registration phase and the trading of stocks and ETFs very painless.
So Is Wealthsimple Trade Secure?
Of course. Wealthsimple Trade is safe. Wealthsimple has in excess of 15 billion CAD of Assets Under Management . This company has been expanding for more than 7 years and also currently employs roughly 600 Canadians. The main shareholder is the publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the very first no-fee digital discount brokerage to operate in Canada.
But How Can I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it very simple to add money to an account. Just connect to a chequing or savings account with your Trade account, and then fund your account in only a few steps. Deposits from financial institutions to Wealthsimple typically take only a couple of days. Funds can the same way can be withdrawn a chequing or savings account through the exact same method.
Which Additional Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is equivalent to Interac e-transfers that allows you to quickly and easily send cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to get ready for tax season and submit your tax return online free. It’s described as easy, 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, as well as get a very competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform which includes a bunch of online courses on saving, investments, crypto, mortgages and much more.
Each of the mentioned products, including Wealthsimple Trade may be found in the mobile app or on their website with one login.
How do I Get Started With Wealthsimple Trade?
Click here to signup for a new Wealthsimple Trade account. For a special registration bonus for our readers you will receive the cash value of a share worth $25 up to $4,500 Canadian once you make an initial deposit to your account.
But What if I Still Have Additional Questions Related to Zfl Stock Wealthsimple?
If this article still hasn’t answered all of your questions, and you’re searching for more answers about Zfl Stock Wealthsimple, go to the Wealthsimple site for answers to all your questions.