What is Wealthsimple?
Wealthsimple is a simple to use Canadian online investing, stocks plus crypto trading web app that distinguishes itself from its competitors by charging absolutely no fees.
A online financial services company launched in the Autumn twenty fourteen originally as a robo-advisor trading app called Wealthsimple Invest, it has improved significantly over the previous eight years to also include Wealthsimple Trade, a zero fees discount brokerage platform.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade lets consumers trade both single stocks and ETFs without paying any fees. The exception is when trading stocks which are displayed in US Dollars. In which case, they charge a nominal currency conversion fee both when buying and selling. But, past us are the times of having to pay $7-12 per trade with discount brokerages as was normal only a few years ago.
Exactly How Much Money do I Need to Have to Start Investing on Wealthsimple Trade?
Wealthsimple is cool in that they allow Canadian investors to make a minimum deposit of just $1. The majority of traditional banks and brokerages have quite large min deposit amounts of $1000-5K. This makes it tough for the typical investor to start investing. With Wealthsimple Trade, one doesn’t have to be wealthy to get started with trading stocks and ETFs.
So Does Wealthsimple Trade Have Registered Accounts?
They do. Wealthsimple Trade offers registered and non-registered accounts. You are free to select both RRSP and TFSA account types in the setup process.
So Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade has a easy to use mobile app available on iOS and Android. The mobile app makes the enrollment process and the trading of stocks and ETFs super simple.
Is Wealthsimple Trade Trustworthy?
Most definitely. Wealthsimple Trade is secure. Wealthsimple has over 15 billion CAD of Assets Under Management . They have been expanding for more than 7 years and employs about 600 folks. The main owner is the admired public Canadian company Power Corp of Canada. Weapthsimple Trade is the very first no-fee digital brokerage operating in Canada.
But How Can I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it incredibly easy to add funds to a new account. Simply connect a chequing or savings account to your Trade account, and add funds to your account in only a couple of steps. Deposits from your bank to Wealthsimple usually take only a few days. Funds can also be withdrawn a chequing or savings account with the exact same process.
Which Additional Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An equivalent to Interac e-transfers that allow anyone to quickly and easily send cash to friends and family in Canada.
Wealthsimple Tax – Everything you require to prepare for this tax year and file your taxes online for free. It’s pitched as easy, accurate and always free income tax filing.
Wealthsimple Spend – A hybrid prepaid debit card and savings product that allows one to get 1% cashback on all your spending, as well as get a very competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform that includes a variety of different courses on different topics such as saving, investing, crypto, real estate and much more.
All of the mentioned products, including Wealthsimple Trade may be found inside the mobile app and at their site with your Wealthsimple login.
So How Can I Get Started Using Wealthsimple Trade?
Click here to signup for a new Wealthsimple Trade account. As a special signup bonus to our readers you will receive the cash value of a stock valued at $25 up to $4,500 Canadian once you fund your account.
So What if I Still Have Questions Related to Wealthsimple Trade Commission Fee?
If this blog post hasn’t given you the answers to all of your questions, and you’re browsing for more specific facts about Wealthsimple Trade Commission Fee, check out the Wealthsimple site to get answers to all your questions.