What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian web based Financial, securities plus crypto trading web app that sets itself apart from similar apps by charging absolutely no fees.
A leading Canadian online financial services business founded in the Autumn of 2014 originally as a robo-advisor algorithmic automated trading platform named Wealthsimple Invest, it has evolved significantly over the past eight years to also include Wealthsimple Trade, a no fee discount brokerage platform.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade allows Canadian investors to trade both stand alone stocks and also ETFs without paying fees. The exception is when you’re trading stocks and ETFs that are displayed in USD currency. In that case, they will charge a currency conversion fee when buying and selling. But, behind us are the times of having to pay $7-12 per each trade with online discount brokerages as was the case a couple years past.
Exactly How Much Money do I Need to Have to Start Investing With Wealthsimple Trade?
Wealthsimple is unique such that they will allow Canadian investors to make a minimum deposit of just $1. Most alternative banks and discount brokerages have large minimum deposit amounts of 1k-$5000. This makes it impossible for the normal investor to start investing. With Wealthsimple Trade, you don’t need to already be wealthy to get started with trading stocks and ETFs.
Does Wealthsimple Trade Have RRSP Accounts?
Yes. Wealthsimple Trade has available both registered and non-CRA-registered account types. One are able to select between both RRSP and TFSA account types during the setup phase.
Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade offers a easy to use mobile app that is offered on IOS and Android. The app makes the signup steps and also trading of stocks and ETFs truly painless.
But Is Wealthsimple Trade Legit?
Most definitely. Wealthsimple Trade is safe. Wealthsimple reports more than 15 billion CAD in Assets Under Management . They have been in business for more than 7 years and currently employs over 600 Canadians. The primary shareholder is the large publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade is the very first no-fee online brokerage operating in Canada.
So How Does One Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it easy to add funds to a new account. Simply connect the app to a chequing or savings account with your Trade account, and then add money to your account in only a few steps. Deposits from financial institutions to Wealthsimple usually take only a couple of days. Funds can also be withdrawn your chequing or savings accounts by using the same method.
What Other Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is alternative to Interac e-Transfers that allows anyone to quickly and easily send cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to prepare for this tax season and submit your tax return online for free. It’s advertised to be simple, accurate and always totally free tax filing.
Wealthsimple Spend – A combination pre paid debit card and savings product that lets one to get 1% cashback on your everyday purchases, and also get a competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform which offers a ton of courses on saving, investing, crypto, mortgages and more.
Every one of the above products, including Wealthsimple Trade may be accessed on the app or from the site with your Wealthsimple login.
So How Should I Begin With Wealthsimple Trade?
Click here to register for your Wealthsimple Trade account. For a special registration bonus for our audience you will receive the cash value of a stock valued at up to $4,500 CAD once you fund your account.
So What if I Still Have Additional Questions About Wealthsimple 0 Commission Reddit?
If this blog post hasn’t given you the answers to all of your questions, and you’re browsing for further specific facts about Wealthsimple 0 Commission Reddit, check out the Wealthsimple site for answers to all your questions.