What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian online investing, stocks and crypto trading web app that distinguishes itself from the competition by charging no fees.
A Toronto, Ontario based online financial services business launched in the Fall twenty fourteen exclusively as a robo advisor algorithmic trading app called Wealthsimple Invest, it has evolved significantly over the previous 8 years to feature Wealthsimple Trade, a no fee discount brokerage service.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade lets investors to trade stand alone stocks and also ETFs without having to pay fees. The exception is when trading stocks and ETFs that are displayed in US Dollars. In which case, they do charge a currency conversion fee when buying and selling. However, gone are the times of having to pay Upwards of $7 per each trade with digital discount brokerages as was the norm just a few years past.
Exactly How Much in Funds do I Need to Have to Start on Wealthsimple Trade?
Wealthsimple is cool such that they will allow investors to make a minimum deposit of only $1. Most alternative banks and brokerages have quite large initial deposit amounts of 1k-$5000. This makes it difficult for the normal new investor to get started. With Wealthsimple Trade, you don’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-registered account types. You are free to choose between both RRSP and TFSA accounts during the setup process.
Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade has a convenient mobile app that is offered to download on IOS and also Android. The app makes the registration steps and trading of stocks and ETFs incredibly a breeze.
So Is Wealthsimple Trade Secure?
Of course. Wealthsimple Trade is legit. Wealthsimple boasts in excess of 15 billion Canadian in Assets Under Management . they’ve been operating for more than 7 years and also right now employs about 600 folks. The primary shareholder is the large public Canadian entity Power Corp of Canada. Weapthsimple Trade is the very first no-fee digital brokerage operating in Canada.
How Does One Fund a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it incredibly straight forward to add funds to a new account. Simply connect a chequing or savings account with your Trade account, and add money to your account in only a couple of clicks. Deposits from banks to Wealthsimple typically take only a couple of days. Funds can also be withdrawn your chequing or savings accounts through the exact same steps.
Which Additional Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An equivalent to e-transfers that allow one to quickly and easily send cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to prepare for this tax year and file your taxes online for free. It’s pitched as simple, accurate and always free income tax filing.
Wealthsimple Spend – A combination prepaid debit card and savings account that lets one to recieve 1% cashback on all your everyday purchases, and also get a very competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform that includes a ton of courses on topics like saving, investments, crypto, mortgages and much more.
All of the above features, including Wealthsimple Trade may be found in the mobile app or from the site with your Wealthsimple login.
But How do I Start With Wealthsimple Trade?
Click here to register for a Wealthsimple Trade account. As a special registration bonus to our readers you’ll receive the cash value of a random Canadian stock valued at up to $4,500 Canadian when you make an initial deposit to your account.
So What if I Still Have Questions Related to Wealthsimple Trade Guide?
If this review still hasn’t given you the answers to each of your questions, and you’re looking for additional facts about Wealthsimple Trade Guide, check out the Wealthsimple website to get answers to every one of your questions.