What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian online investing, stocks and crypto trading web app that differentiates itself from the competition by charging absolutely no fees.
A Toronto, Ontario based fintech company founded in the Autumn of twenty fourteen exclusively as a robo advisor automated trading platform called Wealthsimple Invest, it has grown considerably over the previous 8 years to also feature Wealthsimple Trade, a no fees discount brokerage app.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade lets Canadian consumers trade both single stocks and ETFs without needing to pay commissions. The exception to this is when you’re trading ETFs and stocks that are denominated in USD currency. In which case, they do charge a currency conversion fee when buying and selling. However, past us are the days of having to pay more than $7 per trade with online discount brokerages as was expected just a couple years past.
How Much in Funds Will I Need to Have in Order to Start on Wealthsimple Trade?
Wealthsimple is awesome such that they will allow investors to make a minimum deposit of just $1. The majority of alternative banks and brokerages have quite large min deposit amounts of $1000-5k. This makes it difficult for the normal investor to get started. With Wealthsimple Trade, one doesn’t need to be wealthy to get started with trading stocks and ETFs.
So Does Wealthsimple Trade Offer Registered Accounts?
Of course. Wealthsimple Trade has both CRA registered and non-registered accounts. You may select between both RRSP and TFSA account types during the setup process.
Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade offers a well designed mobile app that is available on Apple and also Android. The app makes the signup phase and also trading of stocks and ETFs easy.
So Is Wealthsimple Trade Trustworthy?
Of course. Wealthsimple Trade is legit. Wealthsimple has more than 15 billion CAD of Assets Under Management (AUM). These folks have been operating for more than 7 years and currently employs over 600 people. The main owner is the respected public Canadian company Power Corp of Canada. Weapthsimple Trade is the first no-fees online brokerage operating in Canada.
How Can I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it so easy to fund a new account. Just connect to a chequing or savings account to your Trade account, and add money to your account in simply a few steps. Deposits from banks to Wealthsimple normally take only a few days. Funds can also be moved back to a chequing or savings accounts by using the exact same process.
Which Additional Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is equivalent to Interac E-transfers which allow one to quickly and efficiently transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to get ready for this tax year and submit your taxes online for free. It’s described to be easy, accurate and always free tax filing.
Wealthsimple Spend – A combination prepaid debit card and savings product which allows you to get 1% cashback on your everyday purchases, as well as get a competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform that offers a variety of courses on different topics such as saving, investing, crypto, real estate and much more.
Every one of the mentioned products, along with Wealthsimple Trade can be accessed on the mobile app and from the website with your Wealthsimple login.
So How Should I Begin Using Wealthsimple Trade?
Click here to register for a new Wealthsimple Trade account. As a special signup bonus offer for our readers you will receive the cash value of a random share valued at up to $4,500 CAD as soon as you fund your account.
But What if I Still Have Questions Related to Wealthsimple 0.5 Fee Reddit?
If this review still hasn’t given you the answers to each of your questions, and you’re looking for more information relating to Wealthsimple 0.5 Fee Reddit, go to the Wealthsimple website for answers to every one of your questions.