What is Wealthsimple?
Wealthsimple is an easy to use Canadian online Financial, securities plus crypto trading app that differentiates itself from its competitors by charging absolutely no fees.
A online financial services business launched in Fall twenty fourteen originally as a robo-advisor algorithmic automated trading app named Wealthsimple Invest, it has improved significantly over the past 8 years to also feature Wealthsimple Trade, a no fee discount brokerage platform.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade lets Canadian investors to trade both stand alone stocks and ETFs without having to pay any commissions. The exception is when trading stocks and ETFs which are denominated in US Dollars. In this case, they will charge a small currency conversion fee both when buying and selling. But, behind us are the days of having to pay more than $7 per each trade with online discount brokerages as was the case a few years ago.
Exactly How Much Money do I Need to Start Investing With 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 sizeable min deposit amounts of $1,000-$5,000. This makes it hard 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.
But Does Wealthsimple Trade Offer RRSP Accounts?
They do. Wealthsimple Trade has available registered and non-CRA-registered accounts. One are able to choose both RRSP and TFSA account types during the setup phase.
Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade has a well designed mobile app offered to download on both IOS and also Google Play. The mobile app makes the registration steps and the trading of stocks and ETFs simple.
But Is Wealthsimple Trade Secure?
Yes. Wealthsimple Trade is secure. Wealthsimple has more than 15 billion Canadian in Assets Under Management . they’ve been doing business for more than 7 years and at this time employs more than 600 folks. The majority shareholder is the large public Canadian entity Power Corp of Canada. Weapthsimple Trade is the first no-fees digital brokerage to operate in Canada.
But How Does One Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it straight forward to fund a new account. Just connect to a chequing or savings account with your Trade account, and then add money to your account in only a few steps. Deposits from financial institutions to Wealthsimple typically take a few days. Funds can the same way can be withdrawn a chequing or savings accounts by using the same method.
What Other Features and Products Are Available?
Wealthsimple Cash – An equivalent to E-transfers which allow anyone to quickly and easily transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to get ready for this tax season and submit your taxes online free. It’s described to be easy, accurate and always totally free income tax filing.
Wealthsimple Spend – A hybrid prepaid visa and savings account that allows one to recieve 1% cashback on all your spending, and also get a very competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform that includes a ton of online courses on topics like saving, investments, crypto, home buying and more.
All of the above features, including Wealthsimple Trade can be found in the app and on their website with one login.
So How do I Get Started Using Wealthsimple Trade?
Click here to create a Wealthsimple Trade account. As an exclusive registration bonus for our readers you’ll receive the equivalent cash value of a random stock worth up to $4,500 CAD when you make an initial deposit to your account.
What if I Still Have Questions Related to Lira Wealthsimple?
If this article didn’t given you the answers to each of your questions, and you’re browsing for additional info about Lira Wealthsimple, go to the Wealthsimple site for answers to every one of your questions.