What is Wealthsimple?
Wealthsimple is a simple to use Canadian web based Financial, securities and crypto trading platform that differentiates itself from similar apps by charging no fees.
A online financial services business launched in Autumn of twenty fourteen originally as a robo advisor trading platform named Wealthsimple Invest, it has changed considerably over the past eight years to also feature Wealthsimple Trade, a zero fee discount brokerage service.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade allows investors trade both single stocks and also ETFs without having to pay fees. The exception is when you’re trading ETFs and stocks that are denominated in USD. In which case, they will charge a nominal currency conversion fee both when buying and selling. However, gone are the days of having to pay $7-12 for each trade with online discount brokerages as was normal just a few years past.
How Much in Funds Will I Need in Order to Begin Investing on Wealthsimple Trade?
Wealthsimple is cool such that they will allow Canadian investors to make a minimum deposit of just $1. The majority of alternative banks and discount brokerages have large initial deposit amounts of 1k-5k. This makes it impossible for the common investor to start investing. With Wealthsimple Trade, you don’t have to be wealthy to begin trading stocks and ETFs.
So Does Wealthsimple Trade Offer TFSA Accounts?
It does. Wealthsimple Trade has available both CRA registered and non-CRA-registered accounts. One may select both RRSP and TFSA account types during the setup wizard.
So Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade offers a well designed mobile app offered to download on iOS and Android. The app makes the signup phase and also the trading of stocks and ETFs very easy.
So Is Wealthsimple Trade Legit?
Definitely. Wealthsimple Trade is legit. Wealthsimple has over 15 billion CAD of Assets Under Management . This company has been in business for more than 7 years and now employs roughly 600 people. The main owner is the respected public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the very first no-fee online discount brokerage operating in Canada.
But How Does One Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it very straight forward to deposit to your account. Simply connect the app to a chequing or savings account with your Trade account, then add funds to your account in only a few steps. Deposits from banks to Wealthsimple typically take just a couple of days. Funds can also be moved to your chequing or savings accounts using the exact same steps.
Which Other Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – An equivalent to Interac e-transfers that allows anyone to quickly and simply transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for this tax season and file your taxes online for free. It’s described to be easy, accurate and always free tax filing.
Wealthsimple Spend – A combination pre paid visa and savings product that allows you to earn 1% cashback on your spending, and also get a very competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform that offers a bunch of different courses on saving, investing, crypto, mortgages and much more.
Every one of the mentioned features, including Wealthsimple Trade may be accessed on the app or from the site with your Wealthsimple login.
So How do I Start Using Wealthsimple Trade?
Click here to signup for a Wealthsimple Trade account. As a special registration bonus for our audience you’ll receive the cash value of a random stock valued at up to $4,500 Canadian when you add funds to your account.
What if I Still Have Questions About Add Beneficiary Wealthsimple Trade?
If this review still hasn’t given you the answers to all of your questions, and you’re still browsing for additional information relating to Add Beneficiary Wealthsimple Trade, go to the Wealthsimple site to get answers to all your questions.