What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian digital investing, stocks and crypto trading app that sets itself apart from the competition by charging no fees.
A online financial services business launched in Fall twenty fourteen exclusively as a robo advisor automated trading app called Wealthsimple Invest, it has improved significantly over the last eight years to also feature Wealthsimple Trade, a no fees discount brokerage app.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade allows Canadian investors to trade both single stocks and also ETFs without having to pay commissions. The exception is when you’re trading securities that are denominated in USD currency. In which case, they will charge a currency conversion fee both when buying and selling. But, behind us are the times of paying $7-12 for each trade with discount brokerages as was expected just a couple years ago.
How Much Cash Will I Need to Have in Order to Start Investing With Wealthsimple Trade?
Wealthsimple is special in that they will allow Canadians to make a minimum deposit of just $1. Many traditional banks and discount brokerages have sizeable initial deposit amounts of 1k-$5000. This makes it hard for the every day new investor to start. With Wealthsimple Trade, you won’t have to already be wealthy to get started with trading stocks and ETFs.
Does Wealthsimple Trade Have Registered Accounts?
Yes. Wealthsimple Trade has both registered and non-CRA-registered accounts. You can select between both RRSP and TFSA accounts in the setup phase.
But Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade has a easy to use mobile app that is available on both Apple and Google Play. The mobile app makes the signup process and also the trading of stocks and ETFs incredibly a breeze.
Is Wealthsimple Trade Legit?
. Wealthsimple Trade is legit. Wealthsimple boasts over 15 billion Canadian in Assets Under Management (AUM). These folks have been operating for more than 7 years and also employs about 600 folks. The main owner is the admired publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the first no-fees online brokerage operating in Canada.
How Does One Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it incredibly simple to fund a new account. Simply connect the app to a chequing or savings account to your Trade account, then add funds to your account in just a few clicks. Deposits from your bank to Wealthsimple usually take just a couple of days. Funds can also be withdrawn a chequing or savings account through the same steps.
What Additional Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is alternative to E-transfers that allows anyone to quickly and simply send cash to friends and family in Canada.
Wealthsimple Tax – Everything you require to get ready for tax season and file your tax return online for free. It’s described to be simple, accurate and always totally free tax return filing.
Wealthsimple Spend – A combination prepaid debit card and savings account that allows you to recieve 1% cashback on your everyday purchases, as well as get a competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform that offers a ton of courses on different topics such as saving, investments, crypto, home buying and much more.
All of the mentioned features, along with Wealthsimple Trade may be accessed in the app or on their website with your Wealthsimple login.
How do I Begin Using Wealthsimple Trade?
Click here to setup a Wealthsimple Trade account. For a special signup bonus offer for our audience you will get the cash value of a random stock valued at $25 up to $4,500 CAD as soon as you fund your account.
What if I Still Have Additional Questions Related to Wealthsimple Trade Gold?
If this article still hasn’t answered all of your questions, and you’re searching for more information about Wealthsimple Trade Gold, go to the Wealthsimple site to get answers to all your questions.