What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian online Financial, stocks and crypto trading platform that distinguishes itself from other apps by charging absolutely no fees.
A fintech business launched in the Fall twenty fourteen originally as a robo advisor automated trading platform named Wealthsimple Invest, it has evolved significantly over the previous eight years to also include Wealthsimple Trade, a no fee discount brokerage platform.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade lets consumers trade both individual stocks and ETFs without having to pay fees. The exception is when you’re trading stocks and ETFs which are listed in USD currency. In this case, they charge a small currency conversion fee both when buying and selling. However, past us are the days of having to pay Upwards of $7 per each trade with discount brokerages as was the case just a couple years past.
How Much Cash do I Need in Order to Begin Investing on Wealthsimple Trade?
Wealthsimple is cool such that they will allow Canadians to make a minimum deposit of just $1. The majority of traditional banks and brokerages have quite large min deposit amounts of 1K-5k. This makes it tough for the common investor to get started. With Wealthsimple Trade, you won’t have to already be wealthy to start trading stocks and ETFs.
So Does Wealthsimple Trade Offer RRSP Accounts?
It does. Wealthsimple Trade has available registered and non-CRA-registered account types. One are free to select between both RRSP and TFSA accounts during the setup phase.
Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade offers a modern mobile app that is offered to download on IOS and also Android. The smartphone app makes the enrollment steps and the trading of stocks and ETFs painless.
So Is Wealthsimple Trade Trustworthy?
Definitely. Wealthsimple Trade is trustworthy. Wealthsimple has in excess of 15 billion CAD of Assets Under Management (AUM). These folks have been expanding for more than 7 years and right now employs over 600 Canadians. The majority owner is the public Canadian corporation Power Corp of Canada. Weapthsimple Trade is the first no-fees online brokerage operating in Canada.
How Does One Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it very straight forward to deposit to your new account. Simply connect to a chequing or savings account with your Trade account, and then fund your account in only a few steps. Deposits from financial institutions to Wealthsimple usually take just a couple of days. Funds can just as easily be moved to a chequing or savings account by using the exact same process.
Which Other Features and Products Are Available?
Wealthsimple Cash – An alternative to e-transfers that allow you to quickly and efficiently send cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for this tax year and submit your taxes online free. It’s pitched as simple, accurate and always totally free tax filing.
Wealthsimple Spend – A combination prepaid visa and savings account that lets one to recieve 1% cashback on your purchases, as well as get a very competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform which includes a bunch of different courses on topics like saving, investing, crypto, mortgages and more.
All of the above features, along with Wealthsimple Trade may be found inside the app or at their site with your Wealthsimple login.
How Can I Begin Using Wealthsimple Trade?
Click here to signup for a Wealthsimple Trade account. For a special signup bonus to our audience you’ll get the cash value of a Canadian stock worth $25 up to $4,500 CAD once you fund your account.
But What if I Still Have Additional Questions Concerning Wealthsimple Trade Usd Fees?
If this blog post hasn’t answered each of your questions, and you’re looking for further specific answers relating to Wealthsimple Trade Usd Fees, go to the Wealthsimple website to get answers to all your questions.