What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian web based Financial, stocks and crypto trading web app that differentiates itself from the competition by charging absolutely no fees.
A leading Canadian online financial services business founded in Autumn twenty fourteen originally as a robo-advisor automated trading app named Wealthsimple Invest, it has improved significantly over the previous 8 years to also include Wealthsimple Trade, a no fee discount brokerage platform.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade lets consumers trade individual stocks and also ETFs without needing to pay any fees. The exception is when you’re trading stocks which are displayed in USD. In which case, they do charge a currency conversion fee both when buying and selling. But, past us are the times of paying more than $7 per trade with online discount brokerages as was the case just a couple years past.
Exactly How Much Cash do I Need to Start on Wealthsimple Trade?
Wealthsimple is unique such that they will allow Canadian investors to make a minimum deposit of just $1. The majority of traditional banks and discount brokerages have sizeable minimum deposit amounts of 1K-5K. This makes it difficult for the every day investor to start investing. With Wealthsimple Trade, you don’t have to already be wealthy to begin trading stocks and ETFs.
Does Wealthsimple Trade Have Registered Accounts?
Yes. Wealthsimple Trade has both registered and non-CRA-registered account types. You are able to choose between both RRSP and TFSA account types during the setup process.
But Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade has a well designed mobile app that is offered on Apple and also Android. The mobile app makes the signup steps and also the trading of stocks and ETFs super a breeze.
But Is Wealthsimple Trade Trustworthy?
. Wealthsimple Trade is secure. Wealthsimple reports over 15 billion Canadian in Assets Under Management . They have been expanding for more than 7 years and also now employs roughly 600 Canadians. The primary owner is the public Canadian corporation Power Corp of Canada. Weapthsimple Trade is the very first no-fee online brokerage to operate in Canada.
How Can I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it simple to deposit to an account. Simply connect the app to a chequing or savings account to your Trade account, and add funds to your account in just a couple of steps. Deposits from financial institutions to Wealthsimple typically take a few days. Funds can the same way can be moved back to your chequing or savings accounts by using the same process.
Which Other Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An equivalent to Interac E-Transfers which allow one to quickly and easily transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to get ready for tax year and submit your taxes online for free. It’s described to be simple, accurate and always free income tax filing.
Wealthsimple Spend – A hybrid prepaid debit card and savings product that lets one to recieve 1% cashback on your purchases, as well as get a competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance platform that offers a ton of different courses on topics like saving, investments, crypto, home buying and more.
All of the listed products, along with Wealthsimple Trade can be found inside the mobile app and at the site with a single login.
How Should I Get Started Using Wealthsimple Trade?
Click here to create a Wealthsimple Trade account. For a special registration bonus offer to our readers you will get the cash value of a random stock valued at $25 up to $4,500 Canadian once you make an initial deposit to your account.
So What if I Still Have Additional Questions Concerning Wealthsimple Trade Exchanges?
If this review didn’t given you the answers to each of your questions, and you’re still looking for further information relating to Wealthsimple Trade Exchanges, check out the Wealthsimple site to get answers to each your questions.