What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian web based Financial, stock plus crypto trading app that differentiates itself from other apps by charging absolutely no fees.
A leading Canadian online financial services business launched in the Fall 2014 originally as a robo advisor automated trading app named Wealthsimple Invest, it has improved substantially over the last 8 years to feature Wealthsimple Trade, a zero fees discount brokerage app.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade allows consumers to trade stand alone stocks and ETFs without having to pay any fees. The exception to this is when you’re trading securities which are denominated in USD. In this case, they do charge a small currency conversion fee when buying and selling. However, past us are the days of having to pay Upwards of $7 for each trade with digital discount brokerages as was common just a couple years past.
How Much Money do I Need in Order to Begin Investing on Wealthsimple Trade?
Wealthsimple is special such that they allow new customers to make a minimum deposit of just $1. The majority of alternative banks and discount brokerages have sizeable min deposit amounts of 1K-$5,000. This makes it difficult for the every day investor to start. With Wealthsimple Trade, you don’t need to be wealthy to start trading stocks and ETFs.
But Does Wealthsimple Trade Offer TFSA Accounts?
Yes. Wealthsimple Trade offers CRA registered and non-registered account types. You can select between both RRSP and TFSA accounts during the setup phase.
So Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade has a convenient mobile app available to download on Apple and Google Play. The mobile app makes the signup process and also the trading of stocks and ETFs truly a breeze.
But Is Wealthsimple Trade Legit?
Yes. Wealthsimple Trade is secure. Wealthsimple has over 15 billion Canadian of Assets Under Management . This company has been operating for more than 7 years and also currently employs more than 600 folks. The majority owner is the publicly traded Canadian entity Power Corp of Canada. Weapthsimple Trade is the first no-fee online discount brokerage operating in Canada.
So How Do I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it straight forward to add money to an account. Simply connect the app to a chequing or savings account to your Trade account, and then add funds to your account in only a couple of clicks. Deposits from financial institutions to Wealthsimple normally take only a couple of days. Funds can just as easily be moved back to your chequing or savings accounts by using the same process.
Which Additional Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – An equivalent to Interac e-Transfers that allow anyone to quickly and efficiently transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you need to prepare for tax season and file your tax return online free. It’s advertised to be simple, accurate and always free income tax filing.
Wealthsimple Spend – A hybrid prepaid visa and savings product that lets you to get 1% cashback on your purchases, as well as earn a competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform that offers a variety of online courses on topics like saving, investing, crypto, home buying and much more.
Each of the listed features, including Wealthsimple Trade can be accessed inside the app or from the website with one login.
But How Can I Begin Using Wealthsimple Trade?
Click here to register for a Wealthsimple Trade account. As an exclusive signup bonus to our audience you will get the cash value of a Canadian stock valued at $25 up to $4,500 CAD when you add funds to your account.
But What if I Still Have Additional Questions Related to 3 Business Day Hold Wealthsimple?
If this article still hasn’t answered each of your questions, and you’re searching for further facts about 3 Business Day Hold Wealthsimple, check out the Wealthsimple site for answers to all your questions.