What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian digital Financial, stocks and crypto trading platform that sets itself apart from the competition by charging no fees.
A online financial services business launched in the Autumn of 2014 originally as a robo advisor algorithmic automated trading platform named Wealthsimple Invest, it has grown significantly over the previous 8 years to include Wealthsimple Trade, a zero fee discount brokerage platform.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade allows consumers trade individual stocks and also ETFs without needing to pay any commissions. The exception is when you’re trading ETFs and stocks which are denominated in US Dollars. In that case, they will charge a nominal currency conversion fee both when buying and selling. However, past us are the times of paying $7-12 per each trade with discount brokerages as was the norm only a few years past.
Exactly How Much in Funds do I Need in Order to Start on Wealthsimple Trade?
Wealthsimple is unique in that they will allow new customers to make a minimum deposit of only $1. The majority of alternative banks and brokerages have sizeable min deposit amounts of 1k-5K. This makes it difficult for the normal investor to get started. With Wealthsimple Trade, you don’t need to be wealthy to get started with trading stocks and ETFs.
Does Wealthsimple Trade Have Registered Accounts?
Yes. Wealthsimple Trade offers CRA registered and non-registered account types. You may choose between both RRSP and TFSA accounts in the setup phase.
Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade has a well designed mobile app available on iOS and Android. The mobile app makes the signup phase and trading of stocks and ETFs super painless.
Is Wealthsimple Trade Secure?
Of course. Wealthsimple Trade is secure. Wealthsimple has more than 15 billion CAD of Assets Under Management . These folks have been operating for more than 7 years and also currently employs roughly 600 Canadians. The majority shareholder is the large publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the first no-fee digital brokerage to operate in Canada.
So How Do I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it quite straight forward to fund your new account. Just connect to a chequing or savings account to your Trade account, then add money to your account in just a couple of clicks. Deposits from banks to Wealthsimple normally take just a few days. Funds can also be moved back to a chequing or savings accounts using the same steps.
Which Other Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – An alternative to E-Transfers which allows you to quickly and easily send cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for this tax season and submit your tax return online free. It’s advertised to be easy, accurate and always totally free tax filing.
Wealthsimple Spend – A combination pre paid debit card and savings account which allows you to get 1% cashback on your everyday purchases, as well as get a competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance platform that offers a variety of courses on saving, investing, crypto, mortgages and more.
All of the mentioned products, including Wealthsimple Trade may be found within the app and at the website with your Wealthsimple login.
But How Can I Start Using Wealthsimple Trade?
Click here to setup a Wealthsimple Trade account. As an exclusive signup bonus for our readers you’ll get the cash value of a share worth $25 up to $4,500 CAD as soon as you add funds to your account.
So What if I Still Have Additional Questions About Www.wealthsimple Review?
If this article hasn’t answered all of your questions, and you’re still searching for additional facts about Www.wealthsimple Review, check out the Wealthsimple site to get answers to every one of your questions.