What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian online Financial, stocks plus crypto trading platform that distinguishes itself from similar apps by charging absolutely no fees.
A Toronto, Ontario based fintech company launched in Autumn twenty fourteen exclusively as a robo-advisor trading platform called Wealthsimple Invest, it has grown considerably over the last 8 years to also include Wealthsimple Trade, a no fee discount brokerage platform.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade allows consumers to trade stand alone stocks and also ETFs without paying fees. The exception is when trading stocks and ETFs that are displayed in USD currency. In that case, they will charge a small currency conversion fee when buying and selling. But, gone are the times of paying more than $7 per each trade with digital discount brokerages as was normal only a couple years ago.
How Much in Funds Will I Need to Have in Order to Start With Wealthsimple Trade?
Wealthsimple is special in that they allow Canadian investors to make a minimum deposit of just $1. The majority of traditional banks and brokerages have sizeable min deposit amounts of 1k-$5000. This makes it hard for the everyday new investor to get started. With Wealthsimple Trade, you won’t have to be wealthy to get started with trading stocks and ETFs.
But Does Wealthsimple Trade Have TFSA Accounts?
Yes. Wealthsimple Trade offers CRA registered and non-CRA-registered account types. You are free to select between both RRSP and TFSA accounts in the setup wizard.
But Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade offers a well designed mobile app available on both iOS and also Android. The smartphone app makes the signup steps and trading of stocks and ETFs super painless.
So Is Wealthsimple Trade Trustworthy?
Yes. Wealthsimple Trade is trustworthy. Wealthsimple boasts over 15 billion CAD in Assets Under Management (AUM). These folks have been operating for more than 7 years and employs about 600 people. The main owner is the large publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the very first no-fee online brokerage to operate in Canada.
How Does One Fund a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it easy to add funds to a new account. Simply connect the app to a chequing or savings account to your Trade account, and fund your account in just a couple of clicks. Deposits from your bank to Wealthsimple usually take a few days. Funds can the same way can be withdrawn your chequing or savings account through the exact same steps.
Which Other Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is alternative to e-Transfers that allow you to quickly and efficiently transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to get ready for this tax season and file your taxes online free. It’s advertised to be easy, accurate and always totally free tax return filing.
Wealthsimple Spend – A combination prepaid visa and savings account that allows you to get 1% cashback on all your purchases, and also earn a very competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform which offers a ton of different courses on saving, investing, crypto, mortgages and more.
Each of the above products, including Wealthsimple Trade may be accessed within the mobile app and from their website with one login.
But How Can I Start With Wealthsimple Trade?
Click here to register for a Wealthsimple Trade account. As a special registration bonus offer to our audience you’ll receive the equivalent cash value of a random share worth up to $4,500 CAD once you add funds to your account.
But What if I Still Have Additional Questions Related to Wealthsimple Trade Zcash?
If this review hasn’t answered all of your questions, and you’re still searching for additional specific info relating to Wealthsimple Trade Zcash, go to the Wealthsimple site to get answers to every one of your questions.