What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian web based investing, securities plus crypto trading web app that differentiates itself from other apps by charging no fees.
A Toronto, Ontario based online financial services company founded in Autumn twenty fourteen exclusively as a robo-advisor algorithmic automated trading app named Wealthsimple Invest, it has changed significantly over the previous 8 years to also feature Wealthsimple Trade, a no fee discount brokerage platform.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade lets Canadian consumers trade both stand alone stocks and ETFs without needing to pay any fees. The exception to this is when trading securities that are listed in US Dollars. In which case, they do charge a small currency conversion fee when buying and selling. But, past us are the days of paying more than $7 for each trade with digital discount brokerages as was expected just a few years ago.
Exactly How Much in Funds Will I Need in Order to Get Started on Wealthsimple Trade?
Wealthsimple is cool in that they will allow Canadian investors to make a minimum deposit of only $1. Many traditional banks and brokerages have quite large min deposit amounts of 1k-$5,000. This makes it impossible for the typical investor to get started. With Wealthsimple Trade, one doesn’t need to already be wealthy to get started with trading stocks and ETFs.
So Does Wealthsimple Trade Offer TFSA Accounts?
Yes. Wealthsimple Trade has available CRA registered and non-registered accounts. You are able to select both RRSP and TFSA accounts during the setup wizard.
So Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade offers a convenient mobile app that is offered to download on both Apple and also Google Play. The app makes the signup process and trading of stocks and ETFs truly a breeze.
So Is Wealthsimple Trade Trustworthy?
Of course. Wealthsimple Trade is safe. Wealthsimple reports over 15 billion Canadian in Assets Under Management (AUM). These folks have been expanding for more than 7 years and also employs more than 600 Canadians. The majority shareholder is the respected publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade was the very first no-fees online brokerage to operate in Canada.
How Do I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it quite simple to fund your new account. Simply connect the app to a chequing or savings account to your Trade account, and then fund your account in only a couple of clicks. Deposits from your bank to Wealthsimple usually take only a few days. Funds can also be moved to a chequing or savings accounts through the exact same method.
Which Other Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – An equivalent to e-Transfers that allows you to quickly and efficiently send cash to friends and family in Canada.
Wealthsimple Tax – Everything you require to prepare for tax season and file your tax return online free. It’s advertised to be simple, accurate and always free tax return filing.
Wealthsimple Spend – A hybrid prepaid debit card and savings product that lets one to recieve 1% cashback on your spending, and also earn a competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform that includes a bunch of different online courses on different topics such as saving, investments, crypto, real estate and much more.
Every one of the listed features, along with Wealthsimple Trade can be found on the mobile app and from the site with a single login.
But How Can I Start With Wealthsimple Trade?
Click here to setup your Wealthsimple Trade account. For an exclusive signup bonus offer for our readers you’ll get the equivalent 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 Additional Questions Concerning Wealthsimple Risk Level 10?
If this review still hasn’t given you the answers to each of your questions, and you’re still looking for additional specific information relating to Wealthsimple Risk Level 10, go to the Wealthsimple website to find answers to all your questions.