What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian digital Financial, stocks and crypto trading app that differentiates itself from other apps by charging no fees.
A fintech business launched in the Fall of twenty fourteen originally as a robo advisor algorithmic automated trading app called Wealthsimple Invest, it has evolved considerably over the past eight years to include Wealthsimple Trade, a zero fee discount brokerage service.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade lets Canadian investors to trade both stand alone stocks and ETFs without needing to pay fees. The exception to this is when trading stocks and ETFs that are denominated in US Dollars. In this case, they will charge a small currency conversion fee both when buying and selling. However, gone are the times of paying Upwards of $7 for each trade with discount brokerages as was normal just a few years ago.
Exactly How Much in Funds Will I Need to Have in Order to Get Started on Wealthsimple Trade?
Wealthsimple is unique such that they will allow Canadians to make a minimum deposit of only $1. Most traditional banks and discount brokerages have large min deposit amounts of 1K-5k. This makes it tough for the everyday new investor to start. With Wealthsimple Trade, one doesn’t need to be wealthy to begin trading stocks and ETFs.
So Does Wealthsimple Trade Have Registered Accounts?
They do. Wealthsimple Trade has registered and non-CRA-registered account types. You may select both RRSP and TFSA account types in the setup process.
But Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade offers a modern mobile app offered to download on iOS and Android. The smartphone app makes the enrollment phase and also trading of stocks and ETFs super simple.
Is Wealthsimple Trade Legit?
Definitely. Wealthsimple Trade is trustworthy. Wealthsimple reports over 15 billion Canadian of Assets Under Management . These folks have been operating for more than 7 years and also employs about 600 people. The main shareholder is the large public Canadian company Power Corp of Canada. Weapthsimple Trade is the first no-fee digital brokerage to operate in Canada.
But How Do I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it so straight forward to deposit to an account. Just connect a chequing or savings account with your Trade account, then add money to your account in just a couple of steps. Deposits from your bank to Wealthsimple normally take just a couple of days. Funds can the same way can be withdrawn a chequing or savings accounts by using the same process.
Which Additional Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is equivalent to Interac e-transfers which allows one to quickly and simply transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you need to prepare for tax year and submit your tax return online for free. It’s described to be easy, accurate and always totally free tax filing.
Wealthsimple Spend – A hybrid prepaid debit card and savings product that allows you to get 1% cashback on all your everyday spending, as well as get a competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform that includes a variety of courses on saving, investing, crypto, real estate and much more.
All of the listed products, along with Wealthsimple Trade may be accessed in the mobile app and at the site with your Wealthsimple login.
So How Can I Get Started With Wealthsimple Trade?
Click here to signup for your Wealthsimple Trade account. For an exclusive registration bonus offer for our audience you will get the cash value of a random Canadian stock valued at up to $4,500 Canadian as soon as you deposit to your account.
But What if I Still Have Questions Related to Zfl Wealthsimple?
If this article still hasn’t given you the answers to each of your questions, and you’re still browsing for further information about Zfl Wealthsimple, visit the Wealthsimple site to get answers to all your questions.