What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian web based investing, stocks and crypto trading app that differentiates itself from the competition by charging no fees.
A Toronto, Ontario based online financial services company launched in Fall twenty fourteen exclusively as a robo-advisor algorithmic trading platform called Wealthsimple Invest, it has grown considerably over the last eight years to also feature Wealthsimple Trade, a zero fees discount brokerage service.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade lets Canadian consumers to trade both individual stocks and also ETFs without paying fees. The exception to this is when trading securities that are displayed in US Dollars. In which case, they will charge a nominal currency conversion fee both when buying and selling. But, gone are the times of paying more than $7 per each trade with discount brokerages as was common just a few years ago.
Exactly How Much Cash do I Need to Have to Get Started With Wealthsimple Trade?
Wealthsimple is special in that they allow investors to make a minimum deposit of just $1. Most alternative banks and discount brokerages have quite large initial deposit amounts of $1,000-5K. This makes it tough for the every day new investor to get started. With Wealthsimple Trade, you don’t need to already be wealthy to start trading stocks and ETFs.
But Does Wealthsimple Trade Offer TFSA Accounts?
They do. Wealthsimple Trade has available both registered and non-CRA-registered accounts. One are free to choose between both RRSP and TFSA accounts during the setup process.
But Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade offers a well designed mobile app available to download on Apple and Android. The app makes the signup phase and also trading of stocks and ETFs incredibly a breeze.
So Is Wealthsimple Trade Legit?
. Wealthsimple Trade is secure. Wealthsimple boasts in excess of 15 billion CAD of Assets Under Management (AUM). They have been expanding for more than 7 years and also right now employs more than 600 people. The primary shareholder is the admired public Canadian corporation Power Corp of Canada. Weapthsimple Trade is the very first no-fee digital brokerage to operate in Canada.
But How Do I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it very straight forward to fund a new account. Simply connect a chequing or savings account with your Trade account, and then add funds to your account in just a few clicks. Deposits from your bank to Wealthsimple typically take only a couple of days. Funds can also be moved to your chequing or savings accounts using the exact same steps.
Which Other Features and Products Are Available?
Wealthsimple Cash – An equivalent to Interac e-transfers which allows you to quickly and efficiently transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to get ready for this tax season and submit your taxes online for free. It’s pitched as easy, accurate and always free tax return filing.
Wealthsimple Spend – A hybrid pre paid debit card and savings account which lets you to earn 1% cashback on your everyday purchases, and also earn a very competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform which includes a bunch of online courses on different topics such as saving, investing, crypto, real estate and more.
Every one of the mentioned features, including Wealthsimple Trade may be found inside the app and on their website with one login.
So How do I Begin Using Wealthsimple Trade?
Click here to register for your Wealthsimple Trade account. As a special registration bonus for our readers you will get the equivalent cash value of a random share 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 Transfer From Wealthsimple To Wealthsimple Trade?
If this blog post didn’t given you the answers to each of your questions, and you’re browsing for additional specific info relating to Transfer From Wealthsimple To Wealthsimple Trade, go to the Wealthsimple website to get answers to all your questions.