What is Wealthsimple?
Wealthsimple is an easy to use Canadian digital Financial, stock plus crypto trading app that distinguishes itself from the competition by charging absolutely no fees.
A online financial services company founded in the Fall 2014 exclusively as a robo-advisor algorithmic trading platform called Wealthsimple Invest, it has improved substantially over the past 8 years to also include Wealthsimple Trade, a no fee discount brokerage service.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade allows consumers trade both individual stocks and ETFs without having to pay any commissions. The exception to this is when trading stocks that are denominated in USD currency. In that case, they charge a currency conversion fee when buying and selling. But, behind us are the times of paying $7-12 per trade with digital discount brokerages as was the norm only a few years past.
Exactly How Much Money do I Need to Start Investing With Wealthsimple Trade?
Wealthsimple is special in that they will allow new customers to make a minimum deposit of just $1. Many traditional banks and discount brokerages have sizeable min deposit amounts of 1K-5K. This makes it tough for the normal investor to start. With Wealthsimple Trade, one doesn’t need to be wealthy to begin trading stocks and ETFs.
Does Wealthsimple Trade Offer Registered Accounts?
It does. Wealthsimple Trade has registered and non-CRA-registered accounts. One are able to choose between both RRSP and TFSA account types in the setup wizard.
So Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade has a easy to use mobile app offered on both Apple and also Google Play. The mobile app makes the signup process and also trading of stocks and ETFs painless.
Is Wealthsimple Trade Legit?
. Wealthsimple Trade is safe. Wealthsimple boasts more than 15 billion Canadian in Assets Under Management . They have been in business for more than 7 years and also right now employs more than 600 folks. The primary shareholder is the large publicly traded Canadian entity Power Corp of Canada. Weapthsimple Trade is the first no-fee online brokerage to operate in Canada.
How Do I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it so simple to fund an account. Simply connect to a chequing or savings account with your Trade account, and then add money to your account in only a few clicks. Deposits from financial institutions to Wealthsimple normally take a few days. Funds can the same way can be moved to your chequing or savings accounts by using the exact same steps.
What Other Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – An equivalent to Interac e-Transfers which allow anyone to quickly and efficiently transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you need to get ready for tax season and file your taxes online for 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 get 1% cashback on your purchases, and also earn a competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform which includes a ton of different courses on different topics such as saving, investments, crypto, mortgages and much more.
Each of the above products, along with Wealthsimple Trade can be found inside the mobile app or from the website with your Wealthsimple login.
How do I Get Started Using Wealthsimple Trade?
Click here to setup a new Wealthsimple Trade account. For a special signup bonus for our readers you’ll get the equivalent cash value of a random stock worth up to $4,500 CAD once you make an initial deposit to your account.
What if I Still Have Additional Questions Concerning Wealthsimple Trade Buy Partial Shares?
If this review hasn’t answered each of your questions, and you’re searching for more specific answers relating to Wealthsimple Trade Buy Partial Shares, go to the Wealthsimple website for answers to all your questions.