Wealthsimple Risk Level 6 Reddit

What is Wealthsimple?

Wealthsimple is a convenient and easy to use Canadian digital investing, securities and crypto trading app that sets itself apart from its competitors by charging no fees.

A leading Canadian online financial services company founded in the Autumn twenty fourteen exclusively as a robo advisor automated trading platform called Wealthsimple Invest, it has improved substantially over the past eight years to also include Wealthsimple Trade, a no fee discount brokerage platform.

Does Wealthsimple Trade Charge Any Fees?

Wealthsimple Trade allows Canadian investors to trade both single stocks and ETFs without paying any fees. The exception is when you’re trading stocks which are listed in USD currency. In which case, they will charge a currency conversion fee when buying and selling. But, gone are the times of paying more than $7 per each trade with online discount brokerages as was common a few years ago.

How Much Cash Will I Need in Order to Get Started With Wealthsimple Trade?

Wealthsimple is unique in that they allow Canadians to make a minimum deposit of just $1. Most traditional banks and brokerages have large min deposit amounts of 1k-$5000. This makes it impossible for the normal investor to start. With Wealthsimple Trade, you won’t need to be wealthy to start trading stocks and ETFs.

But Does Wealthsimple Trade Offer TFSA Accounts?

Of course. Wealthsimple Trade has CRA registered and non-registered account types. One may select between both RRSP and TFSA accounts in the setup wizard.

Does Wealthsimple Trade Offer a Mobile Application?

Yes, Wealthsimple Trade has a modern mobile app that is offered on Apple and Android. The mobile app makes the signup phase and trading of stocks and ETFs incredibly easy.

So Is Wealthsimple Trade Trustworthy?

For sure. Wealthsimple Trade is legit. Wealthsimple reports over 15 billion CAD of Assets Under Management . They have been expanding for more than 7 years and also now employs over 600 people. The main shareholder is the respected public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the first no-fees digital brokerage to operate in Canada.

How Does One Add Funds to a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it simple to deposit to your account. Just connect the app to a chequing or savings account with your Trade account, then add funds to your account in simply a few clicks. Deposits from your bank to Wealthsimple normally take just a few days. Funds can the same way can be moved to a chequing or savings accounts by using the exact same steps.

Which Additional Features and Products Are Offered by Wealthsimple?

Wealthsimple Cash – This is equivalent to E-transfers which allow anyone to quickly and simply transfer money to friends and family in Canada.

Wealthsimple Tax – Everything you’ll require to get ready for this tax year and submit your taxes online for free. It’s pitched as simple, accurate and always free income tax filing.

Wealthsimple Spend – A combination prepaid debit card and savings product which lets you to get 1% cashback on all your everyday spending, as well as get a very competitive 1.5% interest rate on savings.

Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform which offers a variety of online courses on saving, investments, crypto, mortgages and much more.

Each of the above features, along with Wealthsimple Trade may be accessed inside the app or at their website with a single login.

How Can I Get Started Using Wealthsimple Trade?

Click here to signup for a Wealthsimple Trade account. As an exclusive signup bonus offer to our readers you’ll get the cash value of a random stock valued at $25 up to $4,500 CAD as soon as you deposit to your account.

But What if I Still Have Additional Questions Concerning Wealthsimple Risk Level 6 Reddit?

If this blog post didn’t given you the answers to all of your questions, and you’re still looking for further info about Wealthsimple Risk Level 6 Reddit, check out the Wealthsimple website for answers to each your questions.