What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian digital Financial, securities and crypto trading platform that distinguishes itself from the competition by charging absolutely no fees.
A leading Canadian online financial services business founded in Autumn twenty fourteen originally as a robo advisor algorithmic trading platform called Wealthsimple Invest, it has evolved substantially over the previous 8 years to feature Wealthsimple Trade, a no fee discount brokerage service.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade lets Canadian consumers trade both stand alone stocks and also ETFs without paying any commissions. The exception to this is when trading ETFs and stocks which are displayed in US Dollars. In this case, they will charge a nominal currency conversion fee both when buying and selling. However, past us are the times of paying more than $7 per each trade with discount brokerages as was expected only a couple years ago.
Exactly How Much in Funds Will I Need in Order to Begin Investing With Wealthsimple Trade?
Wealthsimple is cool in that they allow investors to make a minimum deposit of only $1. The majority of traditional banks and discount brokerages have quite large min deposit amounts of 1k-5K. This makes it impossible for the typical new investor to start. With Wealthsimple Trade, one doesn’t need to already be wealthy to get started with trading stocks and ETFs.
Does Wealthsimple Trade Have TFSA Accounts?
It does. Wealthsimple Trade offers both CRA registered and non-CRA-registered account types. One are free to choose both RRSP and TFSA account types in the setup phase.
Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade offers a modern mobile app offered to download on Apple and also Google Play. The mobile app makes the signup process and also the trading of stocks and ETFs very painless.
But Is Wealthsimple Trade Legit?
Most definitely. Wealthsimple Trade is legit. Wealthsimple has more than 15 billion CAD of Assets Under Management . These folks have been in business for more than 7 years and now employs roughly 600 people. The main owner is the respected publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the very first no-fee online discount brokerage to operate in Canada.
So How Does One Fund a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it incredibly straight forward to add money to an account. Just connect to a chequing or savings account with your Trade account, then add money to your account in just a couple of steps. Deposits from banks to Wealthsimple normally take just a couple of days. Funds can just as easily be moved back to a chequing or savings account through the exact same method.
What Additional Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An alternative to e-transfers which allows one to quickly and easily transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you need to prepare for this tax year and file your taxes online for free. It’s pitched as easy, accurate and always totally free income tax filing.
Wealthsimple Spend – A combination pre paid debit card and savings account which allows you to get 1% cashback on all your everyday purchases, as well as earn a very competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance platform that offers a bunch of different courses on different topics such as saving, investing, crypto, mortgages and much more.
All of the mentioned features, including Wealthsimple Trade can be found on the app and from their site with one login.
So How Should I Get Started With Wealthsimple Trade?
Click here to setup a Wealthsimple Trade account. For an exclusive registration bonus offer to our readers you will receive the equivalent cash value of a Canadian stock valued at $25 up to $4,500 CAD when you make an initial deposit to your account.
What if I Still Have Questions About Cheapest Stocks On Wealthsimple?
If this blog post didn’t given you the answers to all of your questions, and you’re searching for additional specific info relating to Cheapest Stocks On Wealthsimple, check out the Wealthsimple website to get answers to all your questions.