What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian web based investing, stocks and crypto trading app that distinguishes itself from the competition by charging no fees.
A Toronto, Ontario based fintech company founded in the Fall of 2014 exclusively as a robo-advisor automated trading app named Wealthsimple Invest, it has evolved significantly over the previous 8 years to also feature Wealthsimple Trade, a no fees discount brokerage service.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade lets consumers to trade both stand alone stocks and ETFs without having to pay any fees. The exception to this is when trading ETFs and stocks which are displayed in US Dollars. In this case, they charge a nominal currency conversion fee when buying and selling. But, past us are the times of having to pay more than $7 for each trade with discount brokerages as was normal just a few years ago.
Exactly How Much Cash do I Need in Order to Start on Wealthsimple Trade?
Wealthsimple is awesome in that they allow new customers to make a minimum deposit of just $1. Many alternative banks and brokerages have quite large minimum deposit amounts of $1,000-5k. This makes it difficult for the common investor to get started. With Wealthsimple Trade, you won’t have to already be wealthy to begin trading stocks and ETFs.
Does Wealthsimple Trade Offer Registered Accounts?
It does. Wealthsimple Trade offers registered and non-registered accounts. One can select between both RRSP and TFSA accounts in the setup phase.
But Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade has a well designed mobile app offered to download on iOS and also Google Play. The mobile app makes the enrollment phase and also the trading of stocks and ETFs incredibly simple.
So Is Wealthsimple Trade Legit?
Of course. Wealthsimple Trade is legit. Wealthsimple reports in excess of 15 billion CAD of Assets Under Management . This company has been expanding for more than 7 years and also right now employs over 600 folks. The majority owner is the public Canadian company Power Corp of Canada. Weapthsimple Trade was the very first no-fees digital brokerage to operate in Canada.
How Do I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it incredibly simple to add money to your new account. Just connect to a chequing or savings account to your Trade account, and then add money to your account in just a few clicks. Deposits from financial institutions to Wealthsimple normally take a couple of days. Funds can the same way can be withdrawn your chequing or savings accounts using the same process.
What Other Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is alternative to E-Transfers which allow one to quickly and efficiently transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for this tax season and file your tax return online for free. It’s pitched as simple, accurate and always free tax filing.
Wealthsimple Spend – A hybrid pre paid visa and savings account that lets you 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 learning platform that offers a ton of online courses on saving, investments, crypto, real estate and much more.
Each of the mentioned features, along with Wealthsimple Trade may be found in the app or from the site with one login.
How Should I Get Started With Wealthsimple Trade?
Click here to setup a new Wealthsimple Trade account. For an exclusive signup bonus for our audience you’ll receive the equivalent cash value of a share worth up to $4,500 Canadian once you add funds to your account.
So What if I Still Have Additional Questions Related to Wealthsimple Trade What Stocks To Buy?
If this article still hasn’t given you the answers to all of your questions, and you’re still browsing for more specific answers relating to Wealthsimple Trade What Stocks To Buy, check out the Wealthsimple website for answers to all your questions.