What is Wealthsimple?
Wealthsimple is an easy to use Canadian online Financial, stocks plus crypto trading platform that sets itself apart from its competitors by charging absolutely no fees.
A online financial services company founded in Fall twenty fourteen exclusively as a robo-advisor algorithmic automated trading app called Wealthsimple Invest, it has grown considerably over the previous eight years to include Wealthsimple Trade, a no fees discount brokerage service.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade allows Canadian investors to trade single stocks and also ETFs without paying any fees. The exception is when trading ETFs and stocks that are denominated in USD. In which case, they do charge a nominal currency conversion fee when buying and selling. But, past us are the days of having to pay more than $7 per each trade with digital discount brokerages as was common just a couple years past.
Exactly How Much in Funds do I Need to Have in Order to Start on Wealthsimple Trade?
Wealthsimple is cool such that they will allow new customers to make a minimum deposit of only $1. The majority of alternative banks and brokerages have sizeable min deposit amounts of $1000-$5000. This makes it difficult for the normal new investor to start. With Wealthsimple Trade, one doesn’t have to be wealthy to get started with trading stocks and ETFs.
But Does Wealthsimple Trade Offer RRSP Accounts?
Of course. Wealthsimple Trade has available CRA registered and non-CRA-registered account types. You are able to select both RRSP and TFSA accounts in the setup phase.
Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade offers a well designed mobile app offered to download on Apple and Google Play. The smartphone app makes the registration phase and trading of stocks and ETFs super a breeze.
So Is Wealthsimple Trade Secure?
Yes. Wealthsimple Trade is legit. Wealthsimple has over 15 billion CAD in Assets Under Management . They have been doing business for more than 7 years and employs about 600 people. The majority owner is the large publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade was the first no-fee online discount brokerage to operate in Canada.
So How Can I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it simple to add funds to your account. Simply connect a chequing or savings account with your Trade account, and then fund your account in just a couple of steps. Deposits from your bank to Wealthsimple typically take a couple of days. Funds can just as easily be withdrawn a chequing or savings accounts using the exact same method.
What Other Features and Products Are Available?
Wealthsimple Cash – This is alternative to E-transfers that allows you to quickly and efficiently transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for this tax season and submit your tax return online for free. It’s pitched as simple, accurate and always free income tax filing.
Wealthsimple Spend – A combination prepaid visa and savings account which allows one to recieve 1% cashback on your spending, and also get a competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform that offers a variety of different courses on different topics such as saving, investments, crypto, real estate and much more.
All of the above features, including Wealthsimple Trade can be accessed in the app and on the website with one login.
How Can I Begin Using Wealthsimple Trade?
Click here to setup a new Wealthsimple Trade account. As a special registration bonus offer for our readers you will receive the equivalent cash value of a random stock valued at up to $4,500 CAD when you fund your account.
What if I Still Have Questions About Wealthsimple Etf Fees?
If this article hasn’t given you the answers to each of your questions, and you’re still browsing for further specific info relating to Wealthsimple Etf Fees, visit the Wealthsimple site to get answers to every one of your questions.