What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian online Financial, securities and crypto trading platform that differentiates itself from its competitors by charging absolutely no fees.
A leading Canadian online financial services business launched in the Fall twenty fourteen originally as a robo-advisor automated trading platform called Wealthsimple Invest, it has evolved considerably over the previous eight years to include Wealthsimple Trade, a no fees discount brokerage app.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade allows consumers trade both single stocks and ETFs without paying commissions. The exception to this is when trading stocks that are denominated in US Dollars. In which case, they charge a small currency conversion fee when buying and selling. But, past us are the days of paying Upwards of $7 per trade with discount brokerages as was normal only a couple years past.
Exactly How Much in Funds do I Need to Have to Start Investing on Wealthsimple Trade?
Wealthsimple is cool such that they will allow new customers to make a minimum deposit of only $1. Most traditional banks and brokerages have quite large initial deposit amounts of 1k-$5000. This makes it tough for the typical new investor to get started. With Wealthsimple Trade, one doesn’t need to be wealthy to begin trading stocks and ETFs.
But Does Wealthsimple Trade Offer RRSP Accounts?
It does. Wealthsimple Trade offers CRA registered and non-registered account types. One are able to select between both RRSP and TFSA accounts in the setup wizard.
Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade offers a modern mobile app offered on Apple and also Android. The smartphone app makes the enrollment process and also the trading of stocks and ETFs very simple.
So Is Wealthsimple Trade Legit?
Of course. Wealthsimple Trade is trustworthy. Wealthsimple has over 15 billion CAD in Assets Under Management (AUM). This company has been in business for more than 7 years and also currently employs over 600 people. The majority shareholder is the publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the very first no-fees online brokerage operating in Canada.
But How Can I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it quite simple to fund a new account. Simply connect to a chequing or savings account with your Trade account, and fund your account in only a few steps. Deposits from financial institutions to Wealthsimple normally take only a few days. Funds can just as easily be withdrawn your chequing or savings account with the exact same process.
What Additional Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is alternative to e-transfers that allows anyone to quickly and efficiently transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you require to get ready for tax season and file your tax return online free. It’s pitched to be simple, accurate and always free tax return filing.
Wealthsimple Spend – A hybrid prepaid visa and savings product that lets you to recieve 1% cashback on all your everyday purchases, as well as earn a very competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform which includes a bunch of online courses on topics like saving, investments, crypto, home buying and more.
Each of the above products, along with Wealthsimple Trade can be found in the app or from their site with one login.
So How Should I Begin With Wealthsimple Trade?
Click here to setup a new Wealthsimple Trade account. As a special registration bonus to our audience you will get the cash value of a random stock valued at up to $4,500 Canadian as soon as you deposit to your account.
But What if I Still Have Additional Questions About Personal Wealthsimple Trade Account?
If this review still hasn’t given you the answers to all of your questions, and you’re still searching for additional facts relating to Personal Wealthsimple Trade Account, visit the Wealthsimple website for answers to all your questions.