What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian web based Financial, stocks and crypto trading app that sets itself apart from the competition by charging absolutely no fees.
A leading Canadian online financial services business launched in the Autumn twenty fourteen originally as a robo-advisor automated trading app called Wealthsimple Invest, it has improved significantly over the last eight years to include Wealthsimple Trade, a no fee discount brokerage service.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade allows Canadian investors trade both single stocks and ETFs without having to pay commissions. The exception is when you’re trading ETFs and stocks that are denominated in USD. In this case, they do charge a currency conversion fee both when buying and selling. But, gone are the days of having to pay more than $7 for each trade with discount brokerages as was the norm just a few years ago.
Exactly How Much Cash Will I Need to Have to Start With Wealthsimple Trade?
Wealthsimple is unique such that they will allow Canadian investors to make a minimum deposit of only $1. Many alternative banks and discount brokerages have sizeable min deposit amounts of $1,000-$5,000. This makes it difficult for the everyday investor to start investing. With Wealthsimple Trade, you won’t need to be wealthy to begin trading stocks and ETFs.
Does Wealthsimple Trade Offer TFSA Accounts?
It does. Wealthsimple Trade offers both registered and non-registered accounts. One can select between both RRSP and TFSA account types during the setup phase.
But Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade has a easy to use mobile app offered on iOS and Android. The app makes the signup phase and the trading of stocks and ETFs truly easy.
Is Wealthsimple Trade Secure?
. Wealthsimple Trade is legit. Wealthsimple has more than 15 billion CAD in Assets Under Management . they’ve been in business for more than 7 years and at this time employs more than 600 folks. The majority owner is the respected publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade was the first no-fees online discount brokerage to operate in Canada.
So How Does One Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it very simple to deposit to a new account. Just connect to a chequing or savings account with your Trade account, and then fund your account in just a few clicks. Deposits from financial institutions to Wealthsimple usually take just a couple of days. Funds can the same way can be withdrawn a chequing or savings account with the exact same process.
What Other Benefits and Products Are Available?
Wealthsimple Cash – An alternative to e-Transfers that allow one to quickly and easily send cash to friends and family in Canada.
Wealthsimple Tax – Everything you need to prepare for this tax season and submit your tax return online free. It’s advertised as easy, accurate and always free income tax filing.
Wealthsimple Spend – A combination pre paid visa and savings product that lets one to get 1% cashback on your everyday spending, as well as get a competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform that includes a variety of courses on topics like saving, investing, crypto, real estate and more.
Each of the mentioned features, along with Wealthsimple Trade may be accessed in the mobile app and at the site with one login.
How do I Get Started With Wealthsimple Trade?
Click here to setup your Wealthsimple Trade account. For an exclusive signup bonus offer for our readers you will get the equivalent cash value of a random stock worth up to $4,500 Canadian when you add funds to your account.
So What if I Still Have Questions Related to Wealthsimple Review 3rd Party?
If this article hasn’t given you the answers to all of your questions, and you’re looking for further specific answers relating to Wealthsimple Review 3rd Party, go to the Wealthsimple website for answers to every one of your questions.