What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian online Financial, securities and crypto trading platform that differentiates itself from the competition by charging no fees.
A online financial services company launched in Fall of twenty fourteen exclusively as a robo advisor automated trading platform named Wealthsimple Invest, it has evolved substantially over the past eight years to also include Wealthsimple Trade, a no fees discount brokerage service.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade lets investors trade stand alone stocks and also ETFs without having to pay fees. The exception is when you’re trading stocks which are listed in USD. In this case, they do charge a small currency conversion fee both when buying and selling. However, gone are the days of having to pay Upwards of $7 for each trade with discount brokerages as was common just a couple years past.
Exactly How Much Money Will I Need to Start Investing on Wealthsimple Trade?
Wealthsimple is awesome such that they will allow Canadians to make a minimum deposit of just $1. Most traditional banks and discount brokerages have large min deposit amounts of 1k-$5,000. This makes it difficult for the everyday new investor to get started. With Wealthsimple Trade, you don’t need to be wealthy to get started with trading stocks and ETFs.
Does Wealthsimple Trade Have Registered Accounts?
Of course. Wealthsimple Trade has registered and non-CRA-registered accounts. One are free to choose between both RRSP and TFSA account types during the setup phase.
But Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade offers a easy to use mobile app that is offered to download on both IOS and also Google Play. The app makes the registration phase and also trading of stocks and ETFs very a breeze.
Is Wealthsimple Trade Trustworthy?
Definitely. Wealthsimple Trade is safe. Wealthsimple reports over 15 billion CAD of Assets Under Management . This company has been doing business for more than 7 years and now employs about 600 Canadians. The majority shareholder is the admired publicly traded Canadian entity Power Corp of Canada. Weapthsimple Trade is the first no-fees digital brokerage operating in Canada.
How Does One Fund a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it quite easy to fund your new account. Simply connect to a chequing or savings account to your Trade account, and then fund your account in simply a couple of clicks. Deposits from financial institutions to Wealthsimple normally take just a couple of days. Funds can the same way can be moved back to your chequing or savings account with the exact same process.
What Additional Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is alternative to e-Transfers that allow you to quickly and efficiently transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to prepare for tax year and file your taxes online free. It’s described to be simple, accurate and always totally free tax filing.
Wealthsimple Spend – A combination pre paid visa and savings product that allows one to recieve 1% cashback on your purchases, and also get a very competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance platform which includes a bunch of courses on topics like saving, investments, crypto, real estate and more.
Each of the above features, including Wealthsimple Trade can be accessed in the mobile app or from the site with your Wealthsimple login.
So How do I Get Started With Wealthsimple Trade?
Click here to create a new Wealthsimple Trade account. For an exclusive signup bonus for our audience you will get the equivalent cash value of a share worth up to $4,500 Canadian as soon as you make an initial deposit to your account.
What if I Still Have Questions Concerning Contact Wealthsimple Trade?
If this review hasn’t answered all of your questions, and you’re still browsing for more facts relating to Contact Wealthsimple Trade, go to the Wealthsimple site to get answers to each your questions.