What is Wealthsimple?
Wealthsimple is a simple to use Canadian online investing, stocks and crypto trading app that differentiates itself from similar apps by charging no fees.
A leading Canadian online financial services business launched in Fall of twenty fourteen originally as a robo-advisor automated trading app called Wealthsimple Invest, it has grown substantially over the previous 8 years to also include Wealthsimple Trade, a zero fees discount brokerage app.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade allows Canadian investors trade stand alone stocks and also ETFs without needing to pay any commissions. The exception is when you’re trading stocks and ETFs which are denominated in US Dollars. In this case, they will charge a small currency conversion fee both when buying and selling. But, gone are the times of paying Upwards of $7 for each trade with digital discount brokerages as was the norm a few years past.
Exactly How Much Money do I Need in Order to Start on Wealthsimple Trade?
Wealthsimple is awesome such that they will allow new customers to make a minimum deposit of only $1. Many traditional banks and brokerages have sizeable initial deposit amounts of $1000-5k. This makes it difficult for the normal new investor to get started. With Wealthsimple Trade, one doesn’t need to already be wealthy to begin trading stocks and ETFs.
Does Wealthsimple Trade Have RRSP Accounts?
Yes. Wealthsimple Trade has both registered and non-CRA-registered accounts. One can choose both RRSP and TFSA account types in the setup wizard.
Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade offers a well designed mobile app that is available to download on IOS and also Android. The app makes the registration process and also trading of stocks and ETFs incredibly simple.
Is Wealthsimple Trade Trustworthy?
Of course. Wealthsimple Trade is trustworthy. Wealthsimple reports more than 15 billion Canadian of Assets Under Management . They have been doing business for more than 7 years and right now employs over 600 Canadians. The controlling shareholder is the respected publicly traded Canadian entity Power Corp of Canada. Weapthsimple Trade is the very first no-fees digital brokerage to operate in Canada.
But How Do I Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it simple to add funds to an account. Simply connect to a chequing or savings account to your Trade account, and add money to your account in just a couple of steps. Deposits from banks to Wealthsimple normally take just a few days. Funds can just as easily be moved back to a chequing or savings account with the exact same steps.
What Other Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is equivalent to Interac E-Transfers that allow anyone to quickly and easily send money to friends and family in Canada.
Wealthsimple Tax – Everything you need to get ready for tax season and file your taxes online for free. It’s pitched to be simple, accurate and always free tax return filing.
Wealthsimple Spend – A hybrid pre paid visa and savings account that allows you to earn 1% cashback on your spending, as well as get a very competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform which offers a bunch of different courses on topics like saving, investments, crypto, home buying and more.
Each of the mentioned features, along with Wealthsimple Trade may be accessed within the app or from the website with your Wealthsimple login.
How Should I Begin Using Wealthsimple Trade?
Click here to register for a Wealthsimple Trade account. As a special registration bonus offer for our readers you’ll receive the cash value of a random Canadian stock valued at up to $4,500 Canadian when you add funds to your account.
So What if I Still Have Additional Questions About Transfer Tfsa To Wealthsimple Trade Reddit?
If this article hasn’t answered all of your questions, and you’re browsing for more info relating to Transfer Tfsa To Wealthsimple Trade Reddit, visit the Wealthsimple site to get answers to every one of your questions.