What is Wealthsimple?
Wealthsimple is an easy to use Canadian web based investing, stock and crypto trading web app that differentiates itself from similar apps by charging no fees.
A Toronto, Ontario based fintech company launched in the Autumn twenty fourteen exclusively as a robo-advisor trading platform named Wealthsimple Invest, it has improved significantly over the past eight years to feature Wealthsimple Trade, a zero fee discount brokerage service.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade allows consumers to trade both individual stocks and ETFs without paying any fees. The exception to this is when you’re trading stocks and ETFs that are displayed in US Dollars. In this case, they will charge a currency conversion fee both when buying and selling. However, gone are the times of paying Upwards of $7 per each trade with discount brokerages as was the case only a couple years ago.
Exactly How Much Money Will I Need to Have in Order to Start Investing With Wealthsimple Trade?
Wealthsimple is unique such that they will allow Canadian investors to make a minimum deposit of only $1. The majority of alternative banks and discount brokerages have quite large minimum deposit amounts of 1k-5K. This makes it hard for the common new investor to start investing. With Wealthsimple Trade, you don’t have to be wealthy to start trading stocks and ETFs.
But Does Wealthsimple Trade Have TFSA Accounts?
It does. Wealthsimple Trade has both CRA registered and non-registered accounts. One may select both RRSP and TFSA account types during the setup process.
So Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade offers a well designed mobile app offered to download on both iOS and Google Play. The app makes the enrollment phase and also the trading of stocks and ETFs truly a breeze.
So Is Wealthsimple Trade Legit?
Of course. Wealthsimple Trade is secure. Wealthsimple has more than 15 billion CAD of Assets Under Management (AUM). they’ve been in business for more than 7 years and also currently employs roughly 600 folks. The main shareholder is the large publicly traded Canadian entity Power Corp of Canada. Weapthsimple Trade is the first no-fees digital discount brokerage operating in Canada.
But How Can I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it straight forward to add funds to your new account. Simply connect a chequing or savings account to your Trade account, and add funds to your account in only a couple of steps. Deposits from financial institutions to Wealthsimple usually take just a few days. Funds can also be moved to a chequing or savings accounts using the same steps.
What Additional Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is alternative to Interac e-Transfers which allows one to quickly and easily send cash to friends and family in Canada.
Wealthsimple Tax – Everything you require to get ready for this tax year and file your taxes online for free. It’s advertised to be simple, accurate and always free tax return filing.
Wealthsimple Spend – A hybrid pre paid visa and savings account that lets one to recieve 1% cashback on your purchases, as well as get a competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform which includes a bunch of different courses on saving, investments, crypto, home buying and more.
Every one of the mentioned features, including Wealthsimple Trade may be accessed within the mobile app or on their website with one login.
But How Can I Begin Using Wealthsimple Trade?
Click here to setup a new Wealthsimple Trade account. For a special signup bonus for our audience you’ll receive the cash value of a Canadian stock valued at up to $4,500 Canadian as soon as you make an initial deposit to your account.
So What if I Still Have Questions Related to Wealthsimple Ipo?
If this blog post hasn’t answered all of your questions, and you’re searching for more specific answers relating to Wealthsimple Ipo, go to the Wealthsimple website to get answers to every one of your questions.