What is Wealthsimple?
Wealthsimple is a simple to use Canadian online Financial, stock plus crypto trading app that distinguishes itself from similar apps by charging absolutely no fees.
A fintech company founded in Autumn twenty fourteen exclusively as a robo-advisor trading platform named Wealthsimple Invest, it has grown substantially over the last 8 years to also include Wealthsimple Trade, a no fees discount brokerage platform.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade lets consumers trade single stocks and ETFs without paying fees. The exception is when trading ETFs and stocks which are displayed in USD. In this case, they will charge a small currency conversion fee when buying and selling. But, gone are the times of paying Upwards of $7 for each trade with digital discount brokerages as was common only a couple years past.
How Much Money Will I Need to Have in Order to Get Started on Wealthsimple Trade?
Wealthsimple is awesome in that they will allow Canadians to make a minimum deposit of just $1. The majority of alternative banks and brokerages have large initial deposit amounts of $1000-$5,000. This makes it hard for the normal investor to start. With Wealthsimple Trade, you won’t have to already be wealthy to begin trading stocks and ETFs.
So Does Wealthsimple Trade Have RRSP Accounts?
Yes. Wealthsimple Trade has available registered and non-registered accounts. You are able to choose both RRSP and TFSA accounts in the setup phase.
But Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade offers a convenient mobile app offered on both Apple and also Android. The app makes the enrollment steps and also trading of stocks and ETFs incredibly a breeze.
Is Wealthsimple Trade Legit?
Definitely. Wealthsimple Trade is safe. Wealthsimple boasts over 15 billion Canadian in Assets Under Management . These folks have been in business for more than 7 years and currently employs about 600 people. The controlling owner is the large public Canadian entity Power Corp of Canada. Weapthsimple Trade was the first no-fee online brokerage to operate in Canada.
But How Does One Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it incredibly easy to deposit to an account. Just connect the app to a chequing or savings account with your Trade account, and then add money to your account in just a few clicks. Deposits from your bank to Wealthsimple normally take a few days. Funds can also be withdrawn a chequing or savings account by using the exact same steps.
Which Other Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is alternative to Interac e-Transfers which allows one to quickly and simply send cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to get ready for this tax season and submit your tax return online free. It’s pitched to be simple, accurate and always free tax filing.
Wealthsimple Spend – A combination prepaid debit card and savings account which allows one to earn 1% cashback on all your everyday spending, as well as earn a competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform that offers a bunch of different online courses on topics like saving, investing, crypto, real estate and much more.
Every one of the mentioned features, along with Wealthsimple Trade can be found in the mobile app or at their website with one login.
How Can I Get Started Using Wealthsimple Trade?
Click here to setup a new Wealthsimple Trade account. For a special registration bonus offer to our audience you’ll receive the cash value of a Canadian stock valued at $25 up to $4,500 Canadian when you add funds to your account.
What if I Still Have Additional Questions About Tfsa Wealthsimple?
If this article hasn’t given you the answers to each of your questions, and you’re browsing for additional specific answers relating to Tfsa Wealthsimple, visit the Wealthsimple website for answers to every one of your questions.