What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian digital investing, stock plus crypto trading app that differentiates itself from other apps by charging no fees.
A fintech business launched in the Autumn of twenty fourteen originally as a robo-advisor algorithmic trading platform called Wealthsimple Invest, it has evolved substantially over the previous 8 years to also feature Wealthsimple Trade, a no fee discount brokerage app.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade lets consumers to trade both individual stocks and also ETFs without needing to pay any fees. The exception to this is when trading stocks and ETFs that are denominated in USD. In this case, they will 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 each trade with online discount brokerages as was normal only a couple years past.
Exactly How Much Money Will I Need in Order to Start Investing on Wealthsimple Trade?
Wealthsimple is awesome such that they allow investors to make a minimum deposit of just $1. Most alternative banks and discount brokerages have large initial deposit amounts of $1,000-$5,000. This makes it tough for the normal investor to start investing. With Wealthsimple Trade, you won’t need to be wealthy to begin trading stocks and ETFs.
Does Wealthsimple Trade Have Registered Accounts?
Yes. Wealthsimple Trade offers CRA registered and non-CRA-registered accounts. One are able to choose between both RRSP and TFSA account types during the setup process.
Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade has a easy to use mobile app offered on IOS and also Android. The smartphone app makes the enrollment phase and trading of stocks and ETFs very simple.
Is Wealthsimple Trade Safe?
For sure. Wealthsimple Trade is trustworthy. Wealthsimple has in excess of 15 billion CAD of Assets Under Management . They have been operating for more than 7 years and also employs more than 600 people. The majority owner is the public Canadian company Power Corp of Canada. Weapthsimple Trade was the first no-fee digital brokerage to operate in Canada.
But How Can I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it quite simple to add funds to a new account. Just connect to a chequing or savings account to your Trade account, and then fund your account in just a couple of steps. Deposits from your bank to Wealthsimple usually take just a couple of days. Funds can just as easily be moved back to your chequing or savings account through the exact same steps.
What Other Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An alternative to Interac E-transfers which allow you to quickly and simply send money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to get ready for this tax year and file your taxes online free. It’s described as simple, accurate and always totally free tax return filing.
Wealthsimple Spend – A combination prepaid debit card and savings account that allows one to get 1% cashback on all your spending, as well as earn a competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance platform that includes a ton of courses on topics like saving, investments, crypto, mortgages and more.
Every one of the above features, along with Wealthsimple Trade may be found within the app and at the site with one login.
So How Can I Start With Wealthsimple Trade?
Click here to register for a Wealthsimple Trade account. For a special registration bonus offer to our readers you will get the equivalent cash value of a random share valued at up to $4,500 CAD as soon as you deposit to your account.
What if I Still Have Questions Related to Trade Wealthsimple?
If this blog post still hasn’t given you the answers to each of your questions, and you’re still searching for more info about Trade Wealthsimple, check out the Wealthsimple site to find answers to all your questions.