What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian online Financial, stocks plus crypto trading web app that distinguishes itself from the competition by charging absolutely no fees.
A fintech company founded in Autumn twenty fourteen exclusively as a robo-advisor algorithmic trading app named Wealthsimple Invest, it has improved substantially over the past eight years to also include Wealthsimple Trade, a zero fees discount brokerage platform.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade lets investors trade both individual stocks and ETFs without paying commissions. The exception is when trading stocks and ETFs which are listed in US Dollars. In this case, they charge a currency conversion fee when buying and selling. However, behind us are the times of paying $7-12 per trade with digital discount brokerages as was common just a few years past.
Exactly How Much Cash do I Need in Order to Start Investing on Wealthsimple Trade?
Wealthsimple is awesome in that they will allow investors to make a minimum deposit of just $1. The majority of traditional banks and brokerages have quite large initial deposit amounts of 1k-5k. This makes it tough for the every day investor to start investing. With Wealthsimple Trade, one doesn’t need to be wealthy to get started with trading stocks and ETFs.
Does Wealthsimple Trade Have TFSA Accounts?
It does. Wealthsimple Trade offers CRA registered and non-CRA-registered accounts. You may choose between both RRSP and TFSA accounts during the setup wizard.
But Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade offers a easy to use mobile app that is available on Apple and Google Play. The mobile app makes the registration process and also trading of stocks and ETFs super a breeze.
But Is Wealthsimple Trade Trustworthy?
Most definitely. Wealthsimple Trade is secure. Wealthsimple has over 15 billion CAD in Assets Under Management . This company has been operating for more than 7 years and also employs about 600 people. The majority shareholder is the large public Canadian corporation Power Corp of Canada. Weapthsimple Trade is the very first no-fees digital discount brokerage operating in Canada.
How Does One Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it so easy to add funds to your account. Simply connect the app to a chequing or savings account to your Trade account, then fund your account in simply a couple of clicks. Deposits from your bank to Wealthsimple usually take just a few days. Funds can the same way can be moved back to a chequing or savings accounts by using the same process.
Which Other Features and Products Are Available?
Wealthsimple Cash – An equivalent to e-Transfers that allows you to quickly and efficiently send money to friends and family in Canada.
Wealthsimple Tax – Everything you need to get ready for tax year and file your taxes online for free. It’s pitched as simple, accurate and always free tax return filing.
Wealthsimple Spend – A hybrid pre paid visa and savings product which lets one to get 1% cashback on your purchases, and also get a competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform which offers a variety of courses on saving, investing, crypto, real estate and more.
Every one of the mentioned features, including Wealthsimple Trade may be found on the mobile app or at their site with a single login.
So How Can I Get Started Using Wealthsimple Trade?
Click here to setup a new Wealthsimple Trade account. For an exclusive signup bonus offer for our readers you will receive the cash value of a random stock worth up to $4,500 Canadian when you make an initial deposit to your account.
So What if I Still Have Questions About Income Tax Calculator Wealthsimple?
If this article didn’t given you the answers to each of your questions, and you’re still searching for more specific answers relating to Income Tax Calculator Wealthsimple, check out the Wealthsimple site to get answers to each your questions.