What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian digital Financial, stock plus crypto trading web app that sets itself apart from the competition by charging absolutely no fees.
A leading Canadian fintech business founded in the Autumn of twenty fourteen originally as a robo advisor algorithmic automated trading platform named Wealthsimple Invest, it has grown significantly over the past 8 years to include Wealthsimple Trade, a no fees discount brokerage platform.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade allows Canadian consumers trade individual stocks and ETFs without paying any fees. The exception is when you’re trading ETFs and stocks that are listed in USD. In that case, they do charge a currency conversion fee when buying and selling. But, past us are the days of paying $7-12 per each trade with digital discount brokerages as was the case a few years past.
Exactly How Much Money do I Need to Get Started on Wealthsimple Trade?
Wealthsimple is special such that they allow Canadian investors to make a minimum deposit of only $1. Most alternative banks and discount brokerages have sizeable min deposit amounts of 1k-5k. This makes it hard for the everyday new investor to start. With Wealthsimple Trade, you won’t need to be wealthy to start trading stocks and ETFs.
But Does Wealthsimple Trade Offer Registered Accounts?
They do. Wealthsimple Trade has available registered and non-CRA-registered accounts. You are free to choose both RRSP and TFSA accounts in the setup process.
So Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade has a easy to use mobile app that is available to download on both IOS and Android. The app makes the enrollment steps and trading of stocks and ETFs simple.
Is Wealthsimple Trade Safe?
Of course. Wealthsimple Trade is secure. Wealthsimple boasts more than 15 billion CAD in Assets Under Management . This company has been expanding for more than 7 years and also now employs more than 600 people. The majority shareholder is the admired publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the first no-fee online brokerage operating in Canada.
How Does One Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it very easy to deposit to an account. Just connect to a chequing or savings account to your Trade account, and then add money to your account in only a couple of clicks. Deposits from financial institutions to Wealthsimple normally take just a few days. Funds can also be withdrawn a chequing or savings accounts with the same steps.
What Other Features and Products Are Available?
Wealthsimple Cash – An equivalent to Interac e-transfers which allow one to quickly and simply send cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to get ready for this tax year and file your tax return online for free. It’s described to be simple, accurate and always free tax filing.
Wealthsimple Spend – A hybrid pre paid debit card and savings product that lets you to get 1% cashback on your everyday purchases, as well as get a very competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform which offers a bunch of online courses on saving, investments, crypto, mortgages and more.
Every one of the mentioned products, including Wealthsimple Trade can be found inside the app and on their site with your Wealthsimple login.
But How do I Start Using Wealthsimple Trade?
Click here to create a new Wealthsimple Trade account. For a special signup bonus offer for our audience you will get the equivalent cash value of a random Canadian stock valued at $25 up to $4,500 Canadian as soon as you add funds to your account.
So What if I Still Have Additional Questions Related to Can You Day Trade On Wealthsimple?
If this article hasn’t answered all of your questions, and you’re still searching for more info relating to Can You Day Trade On Wealthsimple, visit the Wealthsimple website to find answers to every one of your questions.