What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian digital Financial, securities plus crypto trading platform that sets itself apart from the competition by charging absolutely no fees.
A fintech company founded in Fall 2014 exclusively as a robo advisor automated trading platform named Wealthsimple Invest, it has changed substantially over the past eight years to also include Wealthsimple Trade, a zero fees discount brokerage platform.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade allows Canadian investors to trade both single stocks and ETFs without paying any fees. The exception to this is when trading ETFs and stocks that are listed in USD. In that case, they will charge a nominal currency conversion fee when buying and selling. However, gone are the days of having to pay $7-12 per each trade with online discount brokerages as was the case a couple years past.
Exactly How Much in Funds Will I Need to Get Started With Wealthsimple Trade?
Wealthsimple is awesome in that they allow investors to make a minimum deposit of only $1. The majority of alternative banks and brokerages have sizeable minimum deposit amounts of 1K-5k. This makes it hard for the everyday new investor to start investing. With Wealthsimple Trade, one doesn’t need to already be wealthy to start trading stocks and ETFs.
But Does Wealthsimple Trade Have Registered Accounts?
Yes. Wealthsimple Trade has both registered and non-CRA-registered account types. One are free to select between both RRSP and TFSA account types in the setup phase.
But Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade offers a convenient mobile app that is offered on IOS and also Google Play. The mobile app makes the registration steps and also the trading of stocks and ETFs simple.
Is Wealthsimple Trade Trustworthy?
. Wealthsimple Trade is trustworthy. Wealthsimple reports more than 15 billion CAD of Assets Under Management . These folks have been operating for more than 7 years and also at this time employs about 600 folks. The main owner is the public Canadian entity Power Corp of Canada. Weapthsimple Trade is the very first no-fee digital discount brokerage operating in Canada.
How Do I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it easy to fund an account. Simply connect the app to a chequing or savings account with your Trade account, then fund your account in just a few clicks. Deposits from your bank to Wealthsimple usually take only a few days. Funds can just as easily be moved to your chequing or savings account through the exact same process.
What Other Features and Products Are Available?
Wealthsimple Cash – This is alternative to Interac e-Transfers that allows anyone to quickly and efficiently send money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to get ready for tax season and file your taxes online for free. It’s described to be easy, accurate and always totally free tax filing.
Wealthsimple Spend – A combination pre paid debit card and savings product which lets one to get 1% cashback on all your everyday purchases, as well as earn a competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform which includes a variety of different online courses on saving, investing, crypto, real estate and much more.
Each of the listed features, along with Wealthsimple Trade may be accessed in the mobile app and at their site with a single login.
How do I Get Started With Wealthsimple Trade?
Click here to create your Wealthsimple Trade account. As a special signup bonus offer for our audience you will receive the equivalent cash value of a share valued at $25 up to $4,500 CAD once you make an initial deposit to your account.
But What if I Still Have Additional Questions About Wealthsimple Trade For Beginners Reddit?
If this article hasn’t given you the answers to all of your questions, and you’re still browsing for additional specific info about Wealthsimple Trade For Beginners Reddit, visit the Wealthsimple site for answers to all your questions.