Penny Stocks On Wealthsimple Reddit

What is Wealthsimple?

Wealthsimple is a convenient and easy to use Canadian online investing, stock plus crypto trading app that distinguishes itself from its competitors by charging absolutely no fees.

A fintech company launched in Fall of 2014 exclusively as a robo-advisor algorithmic automated trading app named Wealthsimple Invest, it has evolved considerably over the previous 8 years to also feature Wealthsimple Trade, a no fees discount brokerage app.

Does Wealthsimple Trade Charge Any Type of Fees?

Wealthsimple Trade lets Canadian investors trade single stocks and ETFs without needing to pay any fees. The exception is when you’re trading stocks that are displayed in USD currency. In this case, they do charge a nominal currency conversion fee when buying and selling. However, past us are the days of paying more than $7 per each trade with digital discount brokerages as was the case just a couple years past.

Exactly How Much Cash do I Need to Have in Order to Begin Investing With Wealthsimple Trade?

Wealthsimple is cool such that they allow investors to make a minimum deposit of only $1. Most alternative banks and discount brokerages have large min deposit amounts of $1000-$5000. This makes it hard for the normal new investor to start investing. With Wealthsimple Trade, you won’t need to be wealthy to get started with trading stocks and ETFs.

But Does Wealthsimple Trade Offer TFSA Accounts?

Of course. Wealthsimple Trade has available both CRA registered and non-registered account types. You may select both RRSP and TFSA account types during the setup phase.

Does Wealthsimple Trade Offer a Mobile App?

Yes, Wealthsimple Trade offers a well designed mobile app that is offered to download on iOS and also Google Play. The mobile app makes the enrollment phase and the trading of stocks and ETFs incredibly painless.

So Is Wealthsimple Trade Trustworthy?

. Wealthsimple Trade is trustworthy. Wealthsimple reports more than 15 billion CAD in Assets Under Management (AUM). They have been doing business for more than 7 years and at this time employs more than 600 people. The majority shareholder is the large publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade was the very first no-fees digital brokerage operating in Canada.

But How Does One Fund a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it incredibly easy to add money to an account. Simply connect to a chequing or savings account to your Trade account, then add funds to your account in just a few steps. Deposits from your bank to Wealthsimple normally take a few days. Funds can also be moved to your chequing or savings account by using the exact same process.

What Additional Benefits and Products Are Available?

Wealthsimple Cash – This is equivalent to e-transfers which allow you to quickly and efficiently transfer 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 advertised as simple, accurate and always free income tax filing.

Wealthsimple Spend – A combination pre paid debit card and savings product that allows one to get 1% cashback on your everyday purchases, as well as get a very competitive 1.5% interest rate on savings.

Personal Finance 101 – Wealthsimple’s free personal finance learning platform which offers a bunch of online courses on different topics such as saving, investments, crypto, home buying and more.

Every one of the above features, including Wealthsimple Trade can be accessed in the mobile app and at their website with a single login.

How do I Get Started Using Wealthsimple Trade?

Click here to signup for a new Wealthsimple Trade account. For a special signup bonus to our readers you’ll receive the cash value of a random Canadian stock worth up to $4,500 Canadian as soon as you add funds to your account.

So What if I Still Have Questions About Penny Stocks On Wealthsimple Reddit?

If this review still hasn’t given you the answers to each of your questions, and you’re still searching for more information relating to Penny Stocks On Wealthsimple Reddit, go to the Wealthsimple site to get answers to each your questions.