What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian digital Financial, securities and crypto trading web app that distinguishes itself from similar apps by charging absolutely no fees.
A fintech company launched in the Fall of twenty fourteen exclusively as a robo-advisor automated trading app named Wealthsimple Invest, it has changed considerably over the past eight years to include Wealthsimple Trade, a no fee discount brokerage app.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade allows investors trade stand alone stocks and also ETFs without paying commissions. The exception is when trading securities that are listed in US Dollars. In that case, they will charge a currency conversion fee both when buying and selling. However, gone are the days of paying Upwards of $7 per trade with digital discount brokerages as was normal a couple years ago.
How Much in Funds Will I Need to Have in Order to Start Investing With Wealthsimple Trade?
Wealthsimple is unique such that they will allow investors to make a minimum deposit of only $1. The majority of traditional banks and discount brokerages have sizeable min deposit amounts of $1000-$5,000. This makes it impossible for the common new investor to start. With Wealthsimple Trade, you won’t have to already be wealthy to get started with trading stocks and ETFs.
So Does Wealthsimple Trade Offer RRSP Accounts?
Yes. Wealthsimple Trade has both CRA registered and non-registered accounts. One may choose between both RRSP and TFSA accounts during the setup process.
So Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade offers a modern mobile app offered on both IOS and Android. The mobile app makes the signup steps and also trading of stocks and ETFs truly a breeze.
Is Wealthsimple Trade Legit?
For sure. Wealthsimple Trade is legit. Wealthsimple reports more than 15 billion CAD in Assets Under Management (AUM). they’ve been doing business for more than 7 years and also now employs about 600 Canadians. The controlling shareholder is the large publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the first no-fees online brokerage to operate in Canada.
But How Does One Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it incredibly simple to deposit to your account. Just connect to a chequing or savings account with your Trade account, and then add funds to your account in just a few clicks. Deposits from financial institutions to Wealthsimple typically take only a few days. Funds can the same way can be withdrawn your chequing or savings account using the exact same steps.
Which Other Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An alternative to Interac e-transfers which allow one to quickly and simply send money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to get ready for tax year and submit your taxes online free. It’s advertised to be easy, accurate and always free tax return filing.
Wealthsimple Spend – A hybrid prepaid debit card and savings account that lets you to recieve 1% cashback on all your spending, as well as earn a very competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance platform that offers a variety of different courses on different topics such as saving, investing, crypto, home buying and much more.
All of the above products, including Wealthsimple Trade can be found within the mobile app or on the site with a single login.
So How do I Start With Wealthsimple Trade?
Click here to create your Wealthsimple Trade account. For a special registration bonus offer for our audience you will receive the cash value of a share valued at $25 up to $4,500 Canadian once you add funds to your account.
What if I Still Have Additional Questions About Best Penny Stocks On Wealthsimple?
If this review didn’t given you the answers to each of your questions, and you’re looking for further answers about Best Penny Stocks On Wealthsimple, visit the Wealthsimple site for answers to each your questions.