What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian digital investing, stock and crypto trading platform that sets itself apart from other apps by charging absolutely no fees.
A online financial services company founded in the Autumn of twenty fourteen exclusively as a robo-advisor automated trading app named Wealthsimple Invest, it has evolved substantially over the last 8 years to also feature Wealthsimple Trade, a no fee discount brokerage platform.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade lets Canadian consumers to trade stand alone stocks and ETFs without needing to pay commissions. The exception to this is when trading stocks that are displayed in USD. In that case, they do charge a currency conversion fee when buying and selling. However, past us are the days of paying Upwards of $7 per each trade with digital discount brokerages as was the norm only a couple years ago.
Exactly How Much in Funds Will I Need in Order to Begin Investing With Wealthsimple Trade?
Wealthsimple is unique in that they will allow new customers to make a minimum deposit of just $1. Many alternative banks and discount brokerages have quite large initial deposit amounts of $1000-$5,000. This makes it tough for the every day new investor to get started. With Wealthsimple Trade, you don’t have to already be wealthy to get started with trading stocks and ETFs.
But Does Wealthsimple Trade Offer RRSP Accounts?
They do. Wealthsimple Trade has both CRA registered and non-CRA-registered account types. One may choose between both RRSP and TFSA account types in the setup wizard.
So Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade has a modern mobile app that is available to download on IOS and Android. The smartphone app makes the signup steps and also the trading of stocks and ETFs incredibly painless.
But Is Wealthsimple Trade Legit?
For sure. Wealthsimple Trade is safe. Wealthsimple reports more than 15 billion CAD in Assets Under Management (AUM). These folks have been expanding for more than 7 years and also now employs roughly 600 people. The controlling shareholder is the large public Canadian entity Power Corp of Canada. Weapthsimple Trade is the first no-fees online discount brokerage to operate in Canada.
So How Do I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it incredibly simple to add funds to your new account. Simply connect the app to a chequing or savings account with your Trade account, and add funds to your account in only a few clicks. Deposits from your bank to Wealthsimple typically take only a few days. Funds can just as easily be withdrawn a chequing or savings account through the same steps.
What Other Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – An equivalent to Interac E-transfers that allow you to quickly and simply transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you require to prepare for tax season and file your tax return online for free. It’s described as easy, accurate and always totally free income tax filing.
Wealthsimple Spend – A combination pre paid visa and savings product that allows one to get 1% cashback on your purchases, and also earn a competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform that offers a variety of courses on topics like saving, investing, crypto, mortgages and much more.
All of the mentioned products, along with Wealthsimple Trade can be found within the app or on their site with one login.
How do I Start With Wealthsimple Trade?
Click here to create a Wealthsimple Trade account. As an exclusive registration bonus offer for our audience you’ll get the cash value of a random share worth $25 up to $4,500 CAD as soon as you add funds to your account.
What if I Still Have Additional Questions Concerning Wealthsimple Trade Dividend Payout?
If this review didn’t given you the answers to each of your questions, and you’re still searching for further specific info about Wealthsimple Trade Dividend Payout, check out the Wealthsimple website for answers to all your questions.