What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian web based Financial, securities plus crypto trading platform that differentiates itself from its competitors by charging absolutely no fees.
A Toronto, Ontario based online financial services company launched in the Autumn twenty fourteen originally as a robo advisor algorithmic automated trading platform called Wealthsimple Invest, it has grown significantly over the past 8 years to also feature Wealthsimple Trade, a no fee discount brokerage service.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade lets Canadian consumers to trade individual stocks and also ETFs without paying any fees. The exception to this is when trading ETFs and stocks that are displayed in USD. In which case, they do charge a currency conversion fee when buying and selling. But, past us are the days of paying $7-12 per trade with discount brokerages as was common only a few years past.
Exactly How Much in Funds Will I Need to Have in Order to Start With Wealthsimple Trade?
Wealthsimple is special such that they will allow Canadian investors to make a minimum deposit of just $1. Most traditional banks and discount brokerages have sizeable min deposit amounts of 1k-$5,000. This makes it difficult for the common new investor to get started. With Wealthsimple Trade, you won’t need to already be wealthy to start trading stocks and ETFs.
So Does Wealthsimple Trade Have Registered Accounts?
They do. Wealthsimple Trade has available both registered and non-registered account types. You are free to select both RRSP and TFSA account types during the setup process.
But Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade has a well designed mobile app offered on both Apple and also Google Play. The mobile app makes the registration steps and the trading of stocks and ETFs super painless.
Is Wealthsimple Trade Secure?
Most definitely. Wealthsimple Trade is secure. Wealthsimple has over 15 billion CAD in Assets Under Management (AUM). These folks have been in business for more than 7 years and currently employs roughly 600 Canadians. The main shareholder is the respected publicly traded Canadian entity Power Corp of Canada. Weapthsimple Trade is the very first no-fee digital brokerage to operate in Canada.
But How Can I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it quite easy to deposit to an account. Just connect to a chequing or savings account to your Trade account, and fund your account in only a few clicks. Deposits from your bank to Wealthsimple usually take only a couple of days. Funds can also be moved back to a chequing or savings accounts by the exact same method.
What Other Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is alternative to Interac E-transfers that allow anyone to quickly and simply send cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to get ready for this tax year and file your tax return online free. It’s advertised to be easy, accurate and always totally free tax return filing.
Wealthsimple Spend – A combination prepaid debit card and savings account which lets one to get 1% cashback on your spending, as well as earn a competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform that includes a variety of courses on saving, investing, crypto, real estate and more.
Each of the above features, including Wealthsimple Trade may be found inside the mobile app and from their website with a single login.
So How Can I Start With Wealthsimple Trade?
Click here to signup for your Wealthsimple Trade account. As a special registration bonus offer to our readers you will get the cash value of a stock worth $25 up to $4,500 CAD when you make an initial deposit to your account.
So What if I Still Have Questions Concerning Wealthsimple Uk?
If this blog post didn’t answered each of your questions, and you’re still browsing for further specific answers relating to Wealthsimple Uk, check out the Wealthsimple website for answers to every one of your questions.