What is Wealthsimple?
Wealthsimple is an easy to use Canadian digital Financial, securities plus crypto trading app that distinguishes itself from the competition by charging no fees.
A leading Canadian fintech business founded in the Autumn of 2014 originally as a robo advisor algorithmic automated trading platform called Wealthsimple Invest, it has grown significantly over the last eight years to include Wealthsimple Trade, a zero fees discount brokerage platform.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade allows consumers trade both single stocks and ETFs without paying fees. The exception to this is when you’re trading stocks and ETFs that are displayed in USD. In this case, they do charge a nominal currency conversion fee both when buying and selling. However, behind us are the times of having to pay $7-12 per each trade with digital discount brokerages as was expected only a couple years ago.
Exactly How Much Money Will I Need to Have to Get Started on Wealthsimple Trade?
Wealthsimple is cool such that they will allow Canadians to make a minimum deposit of only $1. The majority of alternative banks and brokerages have large minimum deposit amounts of $1,000-5K. This makes it difficult for the everyday new investor to start. With Wealthsimple Trade, you don’t need to already be wealthy to begin trading stocks and ETFs.
Does Wealthsimple Trade Have Registered Accounts?
Yes. Wealthsimple Trade has available both CRA registered and non-CRA-registered accounts. You can select both RRSP and TFSA account types in the setup process.
So Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade offers a modern mobile app offered to download on IOS and also Android. The smartphone app makes the signup process and the trading of stocks and ETFs very a breeze.
Is Wealthsimple Trade Safe?
For sure. Wealthsimple Trade is secure. Wealthsimple reports in excess of 15 billion CAD in Assets Under Management (AUM). These folks have been doing business for more than 7 years and also at this time employs over 600 people. The controlling owner is the respected publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade was the very first no-fee digital discount brokerage to operate in Canada.
But How Does One Fund a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it so simple to add money to an account. Simply connect a chequing or savings account to your Trade account, and then add funds to your account in simply a few steps. Deposits from your bank to Wealthsimple usually take only a couple of days. Funds can the same way can be moved back to a chequing or savings account through the same steps.
Which Additional Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is equivalent to E-transfers that allow anyone to quickly and simply transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you need to prepare for this tax season and file your taxes online for free. It’s pitched to be simple, accurate and always free tax filing.
Wealthsimple Spend – A hybrid pre paid debit card and savings account which allows one to get 1% cashback on all your spending, as well as earn a competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform that offers a variety of online courses on topics like saving, investing, crypto, real estate and much more.
All of the above features, along with Wealthsimple Trade may be found on the mobile app or at the site with your Wealthsimple login.
But How Can I Get Started With Wealthsimple Trade?
Click here to register for a new Wealthsimple Trade account. For a special registration bonus offer for our readers you’ll get the equivalent cash value of a stock valued at up to $4,500 Canadian as soon as you fund your account.
So What if I Still Have Additional Questions About Wealthsimple Real Time Quotes?
If this blog post still hasn’t answered each of your questions, and you’re looking for further answers relating to Wealthsimple Real Time Quotes, go to the Wealthsimple site to find answers to each your questions.