What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian digital investing, stock plus crypto trading platform that sets itself apart from other apps by charging absolutely no fees.
A leading Canadian fintech company founded in the Autumn twenty fourteen exclusively as a robo advisor algorithmic trading app named Wealthsimple Invest, it has improved considerably over the previous eight years to also feature Wealthsimple Trade, a zero fee discount brokerage app.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade lets investors trade individual stocks and also ETFs without needing to pay any commissions. The exception is when you’re trading stocks which are listed in US Dollars. In which case, they will charge a nominal currency conversion fee both when buying and selling. However, past us are the days of having to pay more than $7 per trade with discount brokerages as was common a few years past.
Exactly How Much Cash do I Need in Order to Start on Wealthsimple Trade?
Wealthsimple is cool in that they allow Canadians to make a minimum deposit of only $1. Most alternative banks and discount brokerages have large min deposit amounts of $1,000-5K. This makes it tough for the common new investor to start. With Wealthsimple Trade, you won’t have to already be wealthy to get started with trading stocks and ETFs.
So Does Wealthsimple Trade Have TFSA Accounts?
Of course. Wealthsimple Trade has available CRA registered and non-CRA-registered accounts. You are able to select between both RRSP and TFSA accounts in the setup process.
Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade offers a well designed mobile app that is offered on both iOS and also Android. The mobile app makes the signup steps and also trading of stocks and ETFs incredibly a breeze.
So Is Wealthsimple Trade Safe?
Definitely. Wealthsimple Trade is safe. Wealthsimple boasts over 15 billion CAD in Assets Under Management . This company has been in business for more than 7 years and at this time employs more than 600 Canadians. The primary owner is the public Canadian entity Power Corp of Canada. Weapthsimple Trade is the very first no-fees digital discount brokerage to operate in Canada.
But How Do I Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it simple to deposit to your new account. Just connect to a chequing or savings account with your Trade account, and then fund your account in only a couple of steps. Deposits from your bank to Wealthsimple typically take only a couple of days. Funds can also be moved back to your chequing or savings accounts using the exact same steps.
Which Other Benefits and Products Are Available?
Wealthsimple Cash – An equivalent to Interac E-Transfers that allow anyone to quickly and easily send money to friends and family in Canada.
Wealthsimple Tax – Everything you need to prepare for this tax year and submit your tax return online for free. It’s pitched to be simple, accurate and always totally free tax return filing.
Wealthsimple Spend – A combination pre paid visa and savings product which lets one to recieve 1% cashback on your spending, and also earn a very competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform which includes a variety of online courses on different topics such as saving, investing, crypto, mortgages and more.
Every one of the above features, including Wealthsimple Trade can be accessed inside the mobile app or from the website with one login.
How Should I Begin With Wealthsimple Trade?
Click here to register for a Wealthsimple Trade account. For an exclusive registration bonus offer to our audience you’ll receive the equivalent cash value of a random stock valued at $25 up to $4,500 Canadian as soon as you deposit to your account.
What if I Still Have Additional Questions Related to Wealthsimple Mutual Funds?
If this article hasn’t answered all of your questions, and you’re still searching for additional specific facts about Wealthsimple Mutual Funds, go to the Wealthsimple website for answers to every one of your questions.