What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian online Financial, securities plus crypto trading app that sets itself apart from the competition by charging no fees.
A leading Canadian fintech business founded in Autumn of twenty fourteen exclusively as a robo advisor automated trading app called Wealthsimple Invest, it has evolved significantly over the last 8 years to also feature Wealthsimple Trade, a no fees discount brokerage service.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade lets investors to trade individual stocks and ETFs without needing to pay any fees. The exception is when trading stocks that are listed in US Dollars. In this case, they charge a nominal currency conversion fee both when buying and selling. But, past us are the times of paying Upwards of $7 for each trade with digital discount brokerages as was normal a few years past.
How Much Cash do I Need to Have in Order to Get Started With Wealthsimple Trade?
Wealthsimple is unique in that they allow investors to make a minimum deposit of just $1. Most alternative banks and brokerages have quite large min deposit amounts of $1000-$5,000. This makes it impossible for the everyday investor to start. With Wealthsimple Trade, one doesn’t need to be wealthy to start trading stocks and ETFs.
But Does Wealthsimple Trade Offer RRSP Accounts?
They do. Wealthsimple Trade has CRA registered and non-CRA-registered accounts. You are free to select both RRSP and TFSA accounts in the setup phase.
So Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade has a well designed mobile app offered on Apple and also Google Play. The app makes the enrollment process and also trading of stocks and ETFs truly easy.
So Is Wealthsimple Trade Legit?
Definitely. Wealthsimple Trade is secure. Wealthsimple boasts more than 15 billion CAD of Assets Under Management (AUM). they’ve been in business for more than 7 years and also right now employs over 600 folks. The main owner is the large public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the first no-fees digital discount brokerage to operate in Canada.
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. Simply connect the app to a chequing or savings account with your Trade account, then add money to your account in just a couple of clicks. Deposits from your bank to Wealthsimple typically take only a few days. Funds can the same way can be withdrawn your chequing or savings account by using the exact same steps.
Which Additional Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An alternative to E-transfers which allows you to quickly and easily transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for tax year and file your tax return online for free. It’s advertised to be simple, accurate and always totally free tax return filing.
Wealthsimple Spend – A combination pre paid debit card and savings product which allows one to recieve 1% cashback on all your spending, as well as earn a very competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance platform which offers a ton of online courses on different topics such as saving, investing, crypto, mortgages and more.
All of the listed features, including Wealthsimple Trade can be found inside the app and at the site with your Wealthsimple login.
How Should I Get Started Using Wealthsimple Trade?
Click here to setup a new Wealthsimple Trade account. For a special signup bonus offer to our audience you’ll receive the cash value of a random stock worth $25 up to $4,500 CAD as soon as you fund your account.
What if I Still Have Questions About Using Wealthsimple Trade Reddit?
If this article didn’t answered each of your questions, and you’re browsing for additional facts about Using Wealthsimple Trade Reddit, visit the Wealthsimple website to find answers to all your questions.