What is Wealthsimple?
Wealthsimple is a simple to use Canadian web based Financial, securities and crypto trading platform that sets itself apart from other apps by charging absolutely no fees.
A online financial services business founded in the Autumn twenty fourteen originally as a robo advisor automated trading app named Wealthsimple Invest, it has grown considerably over the previous 8 years to also include Wealthsimple Trade, a zero fees discount brokerage app.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade lets investors trade single stocks and also ETFs without paying any commissions. The exception to this is when trading stocks and ETFs that are displayed in USD currency. In which case, they charge a small currency conversion fee when buying and selling. However, past us are the times of having to pay $7-12 per trade with online discount brokerages as was the case a few years ago.
Exactly How Much Cash do I Need to Have in Order to Get Started With Wealthsimple Trade?
Wealthsimple is special such that they will allow Canadians to make a minimum deposit of only $1. The majority of alternative banks and brokerages have quite large min deposit amounts of $1000-5K. This makes it difficult for the normal investor to start investing. With Wealthsimple Trade, you don’t need to be wealthy to begin trading stocks and ETFs.
Does Wealthsimple Trade Have TFSA Accounts?
Yes. Wealthsimple Trade has both registered and non-registered accounts. One can select both RRSP and TFSA account types during the setup wizard.
Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade offers a convenient mobile app offered on both iOS and Google Play. The app makes the enrollment phase and also the trading of stocks and ETFs truly easy.
But Is Wealthsimple Trade Trustworthy?
Yes. Wealthsimple Trade is legit. Wealthsimple reports more than 15 billion Canadian of Assets Under Management (AUM). They have been doing business for more than 7 years and right now employs about 600 Canadians. The primary owner is the respected public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the first no-fees digital discount brokerage operating in Canada.
How Can I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it so simple to add money to an account. Simply connect to a chequing or savings account to your Trade account, then add money to your account in just a couple of clicks. Deposits from your bank to Wealthsimple typically take only a couple of days. Funds can just as easily be moved to a chequing or savings account using the same method.
Which Other Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is equivalent to Interac E-Transfers that allow one to quickly and easily transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to prepare for this tax year and file your taxes online free. It’s advertised to be easy, accurate and always free income tax filing.
Wealthsimple Spend – A hybrid pre paid debit card and savings account which allows one to recieve 1% cashback on your everyday purchases, and also earn a competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance platform which includes a variety of courses on different topics such as saving, investments, crypto, home buying and much more.
Each of the listed features, along with Wealthsimple Trade can be accessed on the app and from their website with one login.
But How do I Get Started With Wealthsimple Trade?
Click here to setup your Wealthsimple Trade account. For an exclusive signup bonus to our audience you will get the equivalent cash value of a random stock worth up to $4,500 CAD once you deposit to your account.
But What if I Still Have Questions Related to Questrade Vs Wealthsimple Trade Reddit 2021?
If this article hasn’t given you the answers to all of your questions, and you’re still looking for additional specific info about Questrade Vs Wealthsimple Trade Reddit 2021, visit the Wealthsimple website for answers to every one of your questions.