What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian web based Financial, stock and crypto trading platform that sets itself apart from its competitors by charging absolutely no fees.
A Toronto, Ontario based fintech company founded in the Fall of twenty fourteen originally as a robo-advisor algorithmic trading platform named Wealthsimple Invest, it has evolved significantly over the last eight years to feature Wealthsimple Trade, a zero fees discount brokerage platform.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade allows Canadian investors to trade both stand alone stocks and also ETFs without having to pay any fees. The exception to this is when you’re trading ETFs and stocks that are displayed in US Dollars. In this case, they charge a currency conversion fee when buying and selling. However, gone are the times of having to pay Upwards of $7 per trade with discount brokerages as was the norm a few years past.
Exactly How Much in Funds do I Need to Start Investing With Wealthsimple Trade?
Wealthsimple is cool in that they will allow new customers to make a minimum deposit of only $1. Many alternative banks and discount brokerages have quite large minimum deposit amounts of $1,000-$5000. This makes it hard for the everyday investor to get started. With Wealthsimple Trade, you won’t have to already be wealthy to get started with trading stocks and ETFs.
Does Wealthsimple Trade Have TFSA Accounts?
Of course. Wealthsimple Trade offers both CRA registered and non-registered account types. One are able to select both RRSP and TFSA account types during the setup wizard.
Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade offers a modern mobile app that is available on both iOS and also Google Play. The mobile app makes the registration phase and also trading of stocks and ETFs very painless.
Is Wealthsimple Trade Safe?
Yes. Wealthsimple Trade is secure. Wealthsimple reports in excess of 15 billion Canadian of Assets Under Management . These folks have been operating for more than 7 years and also right now employs roughly 600 Canadians. The main shareholder is the admired public Canadian corporation Power Corp of Canada. Weapthsimple Trade is the first no-fees digital discount brokerage operating in Canada.
So How Can I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it incredibly straight forward to add money to a new account. Just connect the app to a chequing or savings account with your Trade account, and add funds to your account in only a couple of steps. Deposits from financial institutions to Wealthsimple usually take just a few days. Funds can also be moved back to your chequing or savings accounts with the same process.
What Other Benefits and Products Are Available?
Wealthsimple Cash – This is equivalent to e-Transfers that allows you to quickly and efficiently send cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for tax year and file your taxes online for free. It’s described as simple, accurate and always free income tax filing.
Wealthsimple Spend – A combination prepaid visa and savings product which allows one to earn 1% cashback on all your purchases, as well as earn a very competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform that includes a bunch of courses on saving, investments, crypto, mortgages and much more.
Each of the mentioned products, including Wealthsimple Trade can be found inside the mobile app or at their website with one login.
So How Can I Get Started With Wealthsimple Trade?
Click here to create a Wealthsimple Trade account. As an exclusive registration bonus for our readers you will get the equivalent cash value of a random stock worth up to $4,500 CAD as soon as you deposit to your account.
So What if I Still Have Additional Questions Related to Penny Stocks To Buy On Wealthsimple Trade?
If this blog post still hasn’t answered all of your questions, and you’re searching for additional facts relating to Penny Stocks To Buy On Wealthsimple Trade, visit the Wealthsimple site to find answers to every one of your questions.