What is Wealthsimple?
Wealthsimple is an easy to use Canadian web based Financial, stock and crypto trading web app that differentiates itself from other apps by charging absolutely no fees.
A Toronto, Ontario based fintech business founded in the Fall of twenty fourteen originally as a robo advisor trading app named Wealthsimple Invest, it has grown significantly over the previous 8 years to also include Wealthsimple Trade, a zero fees discount brokerage service.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade allows investors trade both single stocks and ETFs without having to pay any commissions. The exception to this is when trading stocks and ETFs that are displayed in USD. In this case, they do charge a nominal currency conversion fee when buying and selling. However, behind us are the times of paying $7-12 per each trade with discount brokerages as was common a couple years ago.
Exactly How Much in Funds Will I Need to Have in Order to Get Started on Wealthsimple Trade?
Wealthsimple is awesome in that they will allow new customers to make a minimum deposit of only $1. Most traditional banks and discount brokerages have quite large minimum deposit amounts of $1000-5K. This makes it tough for the every day new investor to start. With Wealthsimple Trade, you don’t need to be wealthy to get started with trading stocks and ETFs.
So Does Wealthsimple Trade Offer Registered Accounts?
Of course. Wealthsimple Trade offers both CRA registered and non-registered accounts. One are able to choose both RRSP and TFSA account types during the setup process.
So Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade has a easy to use mobile app offered on iOS and Google Play. The mobile app makes the signup process and the trading of stocks and ETFs super a breeze.
But Is Wealthsimple Trade Trustworthy?
Of course. Wealthsimple Trade is safe. Wealthsimple reports over 15 billion Canadian in Assets Under Management . These folks have been expanding for more than 7 years and now employs roughly 600 folks. The controlling shareholder is the publicly traded Canadian entity Power Corp of Canada. Weapthsimple Trade was the very first no-fee digital brokerage operating in Canada.
So How Does One Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it incredibly straight forward to deposit to an account. Just connect a chequing or savings account with your Trade account, then add funds to your account in simply a few clicks. Deposits from financial institutions to Wealthsimple typically take a couple of days. Funds can the same way can be moved back to your chequing or savings account through the same method.
Which Additional Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is alternative to Interac e-transfers which allow anyone to quickly and simply send money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to get ready for this tax season and submit your taxes online for free. It’s described as simple, accurate and always free tax return filing.
Wealthsimple Spend – A combination pre paid visa and savings product which lets you to recieve 1% cashback on your purchases, as well as earn a very competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform which includes a ton of different courses on topics like saving, investing, crypto, home buying and much more.
Every one of the mentioned features, including Wealthsimple Trade can be accessed inside the mobile app or at the website with a single login.
But How do I Get Started Using Wealthsimple Trade?
Click here to signup for a Wealthsimple Trade account. For an exclusive registration bonus offer to our audience you will get the cash value of a random Canadian stock worth $25 up to $4,500 CAD when you add funds to your account.
What if I Still Have Questions Concerning Available Crypto In Wealthsimple?
If this review still hasn’t given you the answers to all of your questions, and you’re searching for additional specific answers about Available Crypto In Wealthsimple, go to the Wealthsimple website to find answers to all your questions.