What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian online investing, stock plus crypto trading platform that differentiates itself from its competitors by charging absolutely no fees.
A leading Canadian fintech company launched in Autumn of twenty fourteen originally as a robo advisor automated trading app called Wealthsimple Invest, it has grown considerably over the last eight years to also include Wealthsimple Trade, a no fees discount brokerage app.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade lets Canadian investors to trade both stand alone stocks and ETFs without paying any fees. The exception to this is when trading stocks which are displayed in USD currency. In that case, they charge a nominal currency conversion fee both when buying and selling. However, past us are the days of having to pay $7-12 for each trade with online discount brokerages as was expected a couple years ago.
How Much Money do I Need to Have to Start Investing With Wealthsimple Trade?
Wealthsimple is awesome such that they will allow investors to make a minimum deposit of only $1. Most traditional banks and discount brokerages have large initial deposit amounts of $1000-$5,000. This makes it tough for the normal new investor to start. With Wealthsimple Trade, one doesn’t have to be wealthy to begin trading stocks and ETFs.
Does Wealthsimple Trade Offer Registered Accounts?
Of course. Wealthsimple Trade has CRA registered and non-CRA-registered account types. You may choose between both RRSP and TFSA account types in the setup phase.
So Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade offers a modern mobile app offered on both IOS and Android. The app makes the signup process and also the trading of stocks and ETFs incredibly a breeze.
Is Wealthsimple Trade Secure?
Definitely. Wealthsimple Trade is safe. Wealthsimple boasts in excess of 15 billion CAD of Assets Under Management . They have been operating for more than 7 years and also currently employs more than 600 Canadians. The primary shareholder is the respected publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the very first no-fee online brokerage operating in Canada.
So How Do I Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it easy to add funds to a new account. Just connect the app to a chequing or savings account with your Trade account, then fund your account in simply a few clicks. Deposits from financial institutions to Wealthsimple typically take a few days. Funds can just as easily be withdrawn your chequing or savings account with the exact same steps.
What Other Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – An alternative to Interac E-transfers which allow you to quickly and simply transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to prepare for this tax year and submit your taxes online for free. It’s advertised as simple, accurate and always free tax filing.
Wealthsimple Spend – A combination prepaid debit card and savings product which allows you to recieve 1% cashback on all your everyday purchases, as well as earn a competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform that includes a variety of courses on different topics such as saving, investing, crypto, home buying and more.
All of the listed products, along with Wealthsimple Trade can be accessed in the app and on their site with your Wealthsimple login.
But How do I Start Using Wealthsimple Trade?
Click here to create a Wealthsimple Trade account. For an exclusive registration bonus offer to our audience you will get the cash value of a Canadian stock valued at $25 up to $4,500 Canadian when you add funds to your account.
But What if I Still Have Questions Related to Does Wealthsimple Have Fees?
If this review hasn’t given you the answers to each of your questions, and you’re looking for additional specific information about Does Wealthsimple Have Fees, check out the Wealthsimple site to get answers to each your questions.