What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian digital Financial, stocks plus crypto trading app that distinguishes itself from similar apps by charging no fees.
A fintech company launched in Fall twenty fourteen exclusively as a robo-advisor automated trading app named Wealthsimple Invest, it has changed significantly over the last eight years to also feature Wealthsimple Trade, a zero fee discount brokerage service.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade allows Canadian investors trade stand alone stocks and also ETFs without needing to pay any commissions. The exception to this is when trading securities which are displayed in USD. In which case, they charge a nominal currency conversion fee when buying and selling. But, gone are the days of having to pay Upwards of $7 per each trade with discount brokerages as was common a few years ago.
Exactly How Much in Funds Will I Need in Order to Get Started on Wealthsimple Trade?
Wealthsimple is awesome in that they will allow new customers to make a minimum deposit of only $1. The majority of traditional banks and brokerages have quite large minimum deposit amounts of 1K-$5000. This makes it tough for the every day investor to start. With Wealthsimple Trade, you won’t need to already be wealthy to begin trading stocks and ETFs.
But Does Wealthsimple Trade Have Registered Accounts?
Of course. Wealthsimple Trade has available both registered and non-registered account types. One are free to select between both RRSP and TFSA account types during the setup process.
So Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade offers a easy to use mobile app offered to download on IOS and also Google Play. The mobile app makes the signup process and also trading of stocks and ETFs very simple.
So Is Wealthsimple Trade Safe?
Yes. Wealthsimple Trade is secure. Wealthsimple boasts in excess of 15 billion CAD in Assets Under Management . This company has been in business for more than 7 years and right now employs more than 600 Canadians. The primary owner is the admired public Canadian corporation Power Corp of Canada. Weapthsimple Trade was the first no-fee digital discount brokerage operating in Canada.
But How Does One Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it simple to add funds to a new account. Just connect to a chequing or savings account to your Trade account, and add money to your account in simply a couple of clicks. Deposits from banks to Wealthsimple typically take only a couple of days. Funds can the same way can be withdrawn a chequing or savings accounts by the same method.
What Other Features and Products Are Available?
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’ll require to prepare for tax season and submit your taxes online for free. It’s pitched as easy, accurate and always totally free tax filing.
Wealthsimple Spend – A combination prepaid debit card and savings account which lets one to recieve 1% cashback on your spending, and also earn a competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance platform which offers a variety of courses on topics like saving, investing, crypto, mortgages and much more.
Each of the above features, along with Wealthsimple Trade can be found on the app and on their website with one login.
So How do I Get Started Using Wealthsimple Trade?
Click here to register for your Wealthsimple Trade account. As an exclusive signup bonus to our audience you will get the equivalent cash value of a random share worth up to $4,500 Canadian as soon as you add funds to your account.
What if I Still Have Questions Related to Wealthsimple Trade Dividend Reinvestment?
If this article hasn’t answered all of your questions, and you’re still looking for further specific info relating to Wealthsimple Trade Dividend Reinvestment, go to the Wealthsimple website to find answers to all your questions.