What is Wealthsimple?
Wealthsimple is an easy to use Canadian online investing, securities and crypto trading platform that sets itself apart from other apps by charging no fees.
A Toronto, Ontario based fintech company launched in Autumn of 2014 exclusively as a robo advisor trading platform called Wealthsimple Invest, it has changed substantially over the past 8 years to feature Wealthsimple Trade, a no fee discount brokerage service.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade allows Canadian consumers trade stand alone stocks and also ETFs without paying any fees. The exception is when you’re trading stocks that are denominated in USD currency. In that case, they will charge a currency conversion fee when buying and selling. However, gone are the days of paying Upwards of $7 per trade with digital discount brokerages as was the norm only a couple years ago.
How Much Cash do I Need to Have in Order to Start Investing With Wealthsimple Trade?
Wealthsimple is cool in that they will allow investors to make a minimum deposit of just $1. Many alternative banks and 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 don’t need to be wealthy to get started with trading stocks and ETFs.
So Does Wealthsimple Trade Have TFSA Accounts?
It does. Wealthsimple Trade has both CRA registered and non-CRA-registered account types. You are free to select both RRSP and TFSA account types during the setup phase.
But Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade has a well designed mobile app offered to download on both IOS and also Android. The app makes the signup process and also trading of stocks and ETFs truly a breeze.
Is Wealthsimple Trade Legit?
. Wealthsimple Trade is secure. Wealthsimple reports more than 15 billion Canadian of Assets Under Management (AUM). they’ve been expanding for more than 7 years and employs roughly 600 people. The primary shareholder is the large public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the very first no-fees digital brokerage to operate in Canada.
But How Can I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it so straight forward to add money to your account. Just connect a chequing or savings account with your Trade account, and add money to your account in simply a few steps. Deposits from your bank to Wealthsimple usually take only a few days. Funds can just as easily be moved to your chequing or savings accounts with the same process.
Which Additional Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An equivalent to e-transfers that allows you to quickly and efficiently send money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to get ready for tax year and submit your tax return online for free. It’s described as simple, accurate and always free tax filing.
Wealthsimple Spend – A hybrid prepaid debit card and savings product that lets you to earn 1% cashback on all your purchases, as well as get a competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform that includes a bunch of online courses on saving, investing, crypto, real estate and much more.
Every one of the listed products, along with Wealthsimple Trade can be accessed within the mobile app or at the website with a single login.
How Should I Begin Using Wealthsimple Trade?
Click here to signup for a new Wealthsimple Trade account. For a special signup bonus for our audience you’ll receive the cash value of a random Canadian stock valued at up to $4,500 Canadian once you add funds to your account.
What if I Still Have Questions Related to Wealthsimple Risk Level 8 Reddit?
If this review hasn’t answered each of your questions, and you’re still searching for further specific facts about Wealthsimple Risk Level 8 Reddit, check out the Wealthsimple site to find answers to each your questions.