What is Wealthsimple?
Wealthsimple is a simple to use Canadian online investing, stocks plus crypto trading app that differentiates itself from its competitors by charging no fees.
A fintech company launched in Fall twenty fourteen originally as a robo advisor trading app called Wealthsimple Invest, it has changed considerably over the last eight years to include Wealthsimple Trade, a no fee discount brokerage platform.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade lets Canadian investors trade individual stocks and also ETFs without paying commissions. The exception to this is when you’re trading stocks and ETFs which are listed in USD currency. In that case, they will charge a small currency conversion fee both when buying and selling. But, gone are the times of having to pay Upwards of $7 per trade with online discount brokerages as was common only a few years ago.
Exactly How Much in Funds Will I Need in Order to Start Investing With Wealthsimple Trade?
Wealthsimple is cool in that they will allow Canadians to make a minimum deposit of only $1. The majority of traditional banks and brokerages have quite large initial deposit amounts of 1k-$5,000. This makes it tough for the normal investor to get started. With Wealthsimple Trade, you won’t have to be wealthy to begin trading stocks and ETFs.
So Does Wealthsimple Trade Have Registered Accounts?
It does. Wealthsimple Trade has available registered and non-CRA-registered account types. One are free to select both RRSP and TFSA accounts during the setup process.
So Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade has a convenient mobile app that is offered to download on Apple and also Google Play. The mobile app makes the registration phase and also the trading of stocks and ETFs truly simple.
But Is Wealthsimple Trade Legit?
For sure. Wealthsimple Trade is legit. Wealthsimple reports in excess of 15 billion CAD in Assets Under Management (AUM). This company has been operating for more than 7 years and right now employs over 600 Canadians. The primary owner is the large publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade is the very first no-fee digital brokerage operating in Canada.
So How Do I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it very easy to add funds to a new account. Just connect a chequing or savings account to your Trade account, and add money to your account in simply a few clicks. Deposits from financial institutions to Wealthsimple typically take a couple of days. Funds can also be moved back to a chequing or savings accounts by using the same method.
What Additional Benefits 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 need to get ready for tax year and submit your tax return online for free. It’s described as simple, accurate and always free tax filing.
Wealthsimple Spend – A combination prepaid debit card and savings product which allows one to recieve 1% cashback on all your everyday spending, and also get a very competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform which includes a variety of different online courses on different topics such as saving, investments, crypto, mortgages and more.
Every one of the above features, including Wealthsimple Trade can be found in the mobile app and from the website with a single login.
How Should I Start With Wealthsimple Trade?
Click here to register for a new Wealthsimple Trade account. As an exclusive signup bonus offer for our readers you will receive the cash value of a Canadian stock valued at $25 up to $4,500 CAD once you make an initial deposit to your account.
So What if I Still Have Additional Questions Related to Wealthsimple Trade Limit?
If this article still hasn’t answered each of your questions, and you’re still searching for further specific answers relating to Wealthsimple Trade Limit, check out the Wealthsimple site to get answers to every one of your questions.