What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian online investing, stock and crypto trading platform that sets itself apart from other apps by charging absolutely no fees.
A Toronto, Ontario based fintech business founded in the Fall 2014 originally as a robo advisor algorithmic trading app called Wealthsimple Invest, it has changed considerably over the past 8 years to also include Wealthsimple Trade, a zero fees discount brokerage app.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade allows investors trade stand alone stocks and also ETFs without paying fees. The exception is when trading stocks which are listed in USD currency. In that case, they charge a currency conversion fee when buying and selling. However, behind us are the days of paying Upwards of $7 per trade with digital discount brokerages as was normal only a few years ago.
Exactly How Much Money Will I Need to Have in Order to Begin Investing With Wealthsimple Trade?
Wealthsimple is special in that they allow Canadian investors to make a minimum deposit of only $1. Many alternative banks and brokerages have large initial deposit amounts of $1000-$5,000. This makes it tough for the every day investor to get started. With Wealthsimple Trade, you won’t have to already be wealthy to start trading stocks and ETFs.
But Does Wealthsimple Trade Offer TFSA Accounts?
They do. Wealthsimple Trade has both registered and non-CRA-registered account types. You may select between both RRSP and TFSA accounts during the setup phase.
So Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade has a modern mobile app available on IOS and also Google Play. The mobile app makes the enrollment phase and the trading of stocks and ETFs super simple.
But Is Wealthsimple Trade Trustworthy?
For sure. Wealthsimple Trade is legit. Wealthsimple has in excess of 15 billion CAD of Assets Under Management (AUM). This company has been in business for more than 7 years and also now employs about 600 folks. The primary owner is the large publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade is the first no-fees digital discount brokerage operating in Canada.
How Do I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it very straight forward to fund your account. Simply connect to a chequing or savings account to your Trade account, then add money to your account in only a few steps. Deposits from your bank to Wealthsimple usually take only a few days. Funds can also be withdrawn your chequing or savings account with the exact same process.
What Other Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An alternative to E-transfers that allows anyone 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 tax return online free. It’s advertised as simple, accurate and always totally free income tax filing.
Wealthsimple Spend – A combination prepaid visa and savings product that allows you to earn 1% cashback on all your everyday spending, as well as earn a competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform that offers a ton of courses on topics like saving, investing, crypto, real estate and much more.
Each of the mentioned features, including Wealthsimple Trade may be found within the mobile app or on their website with your Wealthsimple login.
So How Can I Get Started With Wealthsimple Trade?
Click here to create your Wealthsimple Trade account. As an exclusive registration bonus offer for our audience you’ll receive the equivalent cash value of a random share worth up to $4,500 Canadian when you make an initial deposit to your account.
What if I Still Have Additional Questions Concerning Wealthsimple Visa Reddit?
If this article didn’t given you the answers to each of your questions, and you’re looking for further specific info relating to Wealthsimple Visa Reddit, visit the Wealthsimple site to get answers to all your questions.