What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian web based Financial, stocks and crypto trading platform that distinguishes itself from similar apps by charging absolutely no fees.
A leading Canadian online financial services company launched in the Fall of twenty fourteen exclusively as a robo advisor algorithmic trading platform named Wealthsimple Invest, it has evolved substantially over the last eight years to feature Wealthsimple Trade, a no fee discount brokerage app.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade lets consumers trade both stand alone stocks and also ETFs without needing to pay any fees. The exception to this is when trading stocks which are displayed in USD. In that case, they do charge a currency conversion fee both when buying and selling. But, behind us are the days of paying Upwards of $7 per trade with online discount brokerages as was normal only a couple years ago.
Exactly How Much in Funds do I Need to Have to Start Investing on Wealthsimple Trade?
Wealthsimple is unique in that they will allow Canadians to make a minimum deposit of just $1. Most alternative banks and brokerages have quite large initial deposit amounts of $1000-5K. This makes it tough for the every day new investor to get started. With Wealthsimple Trade, one doesn’t need to already be wealthy to start trading stocks and ETFs.
But Does Wealthsimple Trade Have TFSA Accounts?
It does. Wealthsimple Trade offers registered and non-CRA-registered accounts. You are free to choose both RRSP and TFSA account types in the setup phase.
So Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade has a well designed mobile app offered to download on both IOS and also Android. The smartphone app makes the registration steps and also trading of stocks and ETFs super painless.
Is Wealthsimple Trade Safe?
Definitely. Wealthsimple Trade is secure. Wealthsimple reports in excess of 15 billion CAD of Assets Under Management (AUM). They have been operating for more than 7 years and also employs over 600 Canadians. The primary shareholder is the admired publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade was the first no-fees online discount brokerage operating in Canada.
But How Does One Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it very simple to add money to an account. Simply connect a chequing or savings account to your Trade account, then add funds to your account in simply a couple of steps. Deposits from banks to Wealthsimple usually take a couple of days. Funds can the same way can be withdrawn a chequing or savings account by the exact same steps.
What Other Features and Products Are Available?
Wealthsimple Cash – This is equivalent to e-Transfers that allow you to quickly and simply transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you need to prepare for tax season and submit your tax return online free. It’s described to be easy, accurate and always free tax filing.
Wealthsimple Spend – A hybrid pre paid visa and savings product which allows you to earn 1% cashback on your purchases, and also earn a competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance platform that offers a variety of different courses on different topics such as saving, investments, crypto, real estate and more.
Every one of the mentioned products, including Wealthsimple Trade can be accessed inside the app or on their site with one login.
But How do I Start Using Wealthsimple Trade?
Click here to register for a new Wealthsimple Trade account. As an exclusive signup bonus for our audience you’ll get the equivalent cash value of a stock valued at $25 up to $4,500 CAD as soon as you add funds to your account.
But What if I Still Have Questions Related to Wealthsimple Not Working?
If this article still hasn’t given you the answers to each of your questions, and you’re searching for more facts relating to Wealthsimple Not Working, go to the Wealthsimple site for answers to all your questions.