What is Wealthsimple?
Wealthsimple is an easy to use Canadian web based investing, securities and crypto trading app that differentiates itself from the competition by charging absolutely no fees.
A leading Canadian fintech company founded in the Autumn 2014 exclusively as a robo-advisor algorithmic automated trading app called Wealthsimple Invest, it has changed considerably over the previous eight years to also include Wealthsimple Trade, a zero fees discount brokerage platform.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade lets investors trade both single stocks and ETFs without needing to pay fees. The exception is when you’re trading stocks and ETFs that are denominated in USD. In this case, they charge a nominal currency conversion fee both when buying and selling. However, behind us are the times of having to pay Upwards of $7 per trade with discount brokerages as was common just a couple years past.
Exactly How Much Cash Will I Need in Order to Start Investing on Wealthsimple Trade?
Wealthsimple is cool in that they will allow new customers to make a minimum deposit of only $1. The majority of alternative banks and discount brokerages have large minimum deposit amounts of $1000-5k. This makes it hard for the common new investor to start. With Wealthsimple Trade, you don’t have to be wealthy to start trading stocks and ETFs.
But Does Wealthsimple Trade Have Registered Accounts?
Of course. Wealthsimple Trade has CRA registered and non-CRA-registered account types. You are able to select both RRSP and TFSA account types during the setup process.
So Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade has a convenient mobile app available to download on Apple and Google Play. The app makes the signup process and the trading of stocks and ETFs very a breeze.
Is Wealthsimple Trade Trustworthy?
Most definitely. Wealthsimple Trade is secure. Wealthsimple has in excess of 15 billion CAD in Assets Under Management (AUM). they’ve been in business for more than 7 years and currently employs roughly 600 folks. The controlling shareholder is the large public Canadian corporation 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 mobile app makes it quite simple to add money to your new account. Just connect a chequing or savings account with your Trade account, and fund your account in just a few clicks. Deposits from banks to Wealthsimple typically take only a couple of days. Funds can the same way can be withdrawn your chequing or savings account by using the same method.
Which Additional Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is alternative to Interac e-Transfers which allow one to quickly and simply send cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for tax season and submit your tax return online free. It’s advertised to be easy, accurate and always free tax filing.
Wealthsimple Spend – A combination prepaid debit card and savings product which allows one to earn 1% cashback on all your purchases, and also earn a competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform which includes a variety of online courses on different topics such as saving, investments, crypto, real estate and much more.
Each of the mentioned features, including Wealthsimple Trade may be accessed inside the app and at their website with a single login.
So How do I Get Started Using Wealthsimple Trade?
Click here to setup your Wealthsimple Trade account. For a special signup bonus offer for our readers you will get the cash value of a random share valued at $25 up to $4,500 Canadian once you add funds to your account.
So What if I Still Have Additional Questions Related to Tfsa Wealthsimple Reddit?
If this blog post still hasn’t answered each of your questions, and you’re still searching for more facts about Tfsa Wealthsimple Reddit, visit the Wealthsimple website to get answers to every one of your questions.