What is Wealthsimple?
Wealthsimple is an easy to use Canadian web based Financial, stocks plus crypto trading app that sets itself apart from similar apps by charging no fees.
A leading Canadian online financial services company launched in the Fall 2014 originally as a robo-advisor trading platform called Wealthsimple Invest, it has grown significantly over the last eight years to also feature Wealthsimple Trade, a zero fee discount brokerage platform.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade allows Canadian consumers to trade both stand alone stocks and ETFs without needing to pay commissions. The exception is when you’re trading stocks that are denominated in USD. In that case, they do charge a small currency conversion fee both when buying and selling. However, past us are the times of paying more than $7 for each trade with digital discount brokerages as was the norm a couple years ago.
Exactly How Much Money do I Need to Have in Order to Start on Wealthsimple Trade?
Wealthsimple is special in that they will allow Canadians to make a minimum deposit of only $1. Many alternative banks and discount brokerages have sizeable initial deposit amounts of 1K-5k. This makes it difficult for the common new investor to start. With Wealthsimple Trade, you don’t need to be wealthy to start trading stocks and ETFs.
But Does Wealthsimple Trade Have Registered Accounts?
They do. Wealthsimple Trade offers both registered and non-registered account types. You are able to choose both RRSP and TFSA account types during the setup wizard.
So Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade offers a convenient mobile app that is offered to download on both IOS and also Google Play. The mobile app makes the enrollment phase and the trading of stocks and ETFs super a breeze.
But Is Wealthsimple Trade Trustworthy?
. Wealthsimple Trade is secure. Wealthsimple has in excess of 15 billion Canadian of Assets Under Management . They have been expanding for more than 7 years and now employs more than 600 Canadians. The controlling shareholder is the admired publicly traded Canadian entity Power Corp of Canada. Weapthsimple Trade was the very first no-fees digital brokerage operating in Canada.
How Can I Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it easy to deposit to your new account. Simply connect the app to a chequing or savings account to your Trade account, and add funds to your account in only a few clicks. Deposits from financial institutions to Wealthsimple normally take only a couple of days. Funds can the same way can be withdrawn a chequing or savings account using the exact same method.
Which Additional Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is alternative to e-Transfers that allow anyone to quickly and simply send money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to get ready for this tax year and file your taxes online free. It’s described as easy, accurate and always free income tax filing.
Wealthsimple Spend – A hybrid prepaid visa and savings product which allows you to earn 1% cashback on all your purchases, as well as earn a competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform which offers a bunch of different courses on different topics such as saving, investments, crypto, real estate and more.
Each of the mentioned features, along with Wealthsimple Trade may be found on the mobile app and at the website with one login.
So How do I Start With Wealthsimple Trade?
Click here to signup for a Wealthsimple Trade account. For an exclusive registration bonus offer to our readers you’ll receive the equivalent cash value of a stock valued at $25 up to $4,500 CAD as soon as you deposit to your account.
So What if I Still Have Additional Questions Related to Reddit Wealthsimple Trade Vs Questrade?
If this article hasn’t answered each of your questions, and you’re browsing for more specific information relating to Reddit Wealthsimple Trade Vs Questrade, check out the Wealthsimple website for answers to each your questions.