What is Wealthsimple?
Wealthsimple is a simple to use Canadian web based investing, stock plus crypto trading platform that sets itself apart from similar apps by charging absolutely no fees.
A leading Canadian fintech business founded in Autumn twenty fourteen exclusively as a robo advisor algorithmic trading platform named Wealthsimple Invest, it has changed considerably over the past 8 years to feature Wealthsimple Trade, a zero fees discount brokerage app.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade allows Canadian consumers to trade stand alone stocks and also ETFs without having to pay any commissions. The exception is when trading stocks and ETFs which are listed in USD currency. In this case, they charge a nominal currency conversion fee when buying and selling. However, past us are the days of paying $7-12 per trade with discount brokerages as was common only a few years ago.
Exactly How Much Cash Will I Need to Get Started on Wealthsimple Trade?
Wealthsimple is unique such that they allow new customers to make a minimum deposit of just $1. Most alternative banks and discount brokerages have sizeable min deposit amounts of 1K-$5000. This makes it difficult for the every day new investor to get started. With Wealthsimple Trade, you won’t have to be wealthy to get started with trading stocks and ETFs.
Does Wealthsimple Trade Offer Registered Accounts?
It does. Wealthsimple Trade has both registered and non-CRA-registered accounts. You are free to choose between both RRSP and TFSA account types in the setup wizard.
But Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade has a well designed mobile app offered on both IOS and also Android. The app makes the signup steps and also the trading of stocks and ETFs truly easy.
But Is Wealthsimple Trade Secure?
Of course. Wealthsimple Trade is legit. Wealthsimple reports in excess of 15 billion CAD of Assets Under Management . This company has been operating for more than 7 years and employs about 600 Canadians. The majority shareholder is the respected public Canadian entity Power Corp of Canada. Weapthsimple Trade was the first no-fees online brokerage operating in Canada.
How Does One Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it simple to add money to your account. Just connect to a chequing or savings account to your Trade account, and add money to your account in simply a few clicks. Deposits from financial institutions to Wealthsimple typically take only a few days. Funds can also be moved back to a chequing or savings accounts with the exact same steps.
What Other Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – An alternative to Interac E-transfers that allow you to quickly and efficiently send money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to prepare for this tax year and submit your taxes online free. It’s described as simple, accurate and always totally free tax return filing.
Wealthsimple Spend – A hybrid pre paid visa and savings account which allows you to get 1% cashback on all your everyday spending, and also earn a very competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance platform that includes a variety of courses on different topics such as saving, investing, crypto, mortgages and much more.
Each of the listed products, including Wealthsimple Trade can be accessed on the app or at the site with one login.
But How Should I Begin Using Wealthsimple Trade?
Click here to register for a new Wealthsimple Trade account. As a special registration bonus offer for our audience you will get the equivalent cash value of a random Canadian stock worth up to $4,500 Canadian when you make an initial deposit to your account.
But What if I Still Have Questions Concerning Wealthsimple Youth Account?
If this review still hasn’t given you the answers to each of your questions, and you’re still browsing for more answers about Wealthsimple Youth Account, visit the Wealthsimple website to find answers to each your questions.