What is Wealthsimple?
Wealthsimple is an easy to use Canadian web based investing, securities and crypto trading platform that differentiates itself from other apps by charging no fees.
A leading Canadian fintech business founded in Fall twenty fourteen exclusively as a robo-advisor trading platform named Wealthsimple Invest, it has improved significantly over the past eight years to feature Wealthsimple Trade, a zero fee discount brokerage platform.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade lets consumers to trade both stand alone stocks and also ETFs without paying fees. The exception is when trading stocks which are listed in USD. In that case, they do charge a nominal currency conversion fee both when buying and selling. However, past us are the times of paying $7-12 per trade with online discount brokerages as was expected only a couple years ago.
Exactly How Much Money Will I Need to Start Investing on Wealthsimple Trade?
Wealthsimple is unique such that they will allow investors to make a minimum deposit of just $1. Most alternative banks and discount brokerages have large min deposit amounts of 1K-$5000. This makes it difficult for the every day investor to start investing. With Wealthsimple Trade, you don’t need to be wealthy to start trading stocks and ETFs.
So Does Wealthsimple Trade Have Registered Accounts?
It does. Wealthsimple Trade offers both CRA registered and non-registered accounts. You may select between both RRSP and TFSA account types in the setup wizard.
Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade has a modern mobile app that is offered to download on IOS and Google Play. The smartphone app makes the registration phase and the trading of stocks and ETFs super simple.
Is Wealthsimple Trade Legit?
Yes. Wealthsimple Trade is secure. Wealthsimple reports over 15 billion CAD in Assets Under Management (AUM). they’ve been doing business for more than 7 years and also now employs over 600 people. The main owner is the admired publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade was the very first no-fees online brokerage operating in Canada.
So How Does One Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it so easy to deposit to a new account. Simply connect to a chequing or savings account to your Trade account, and then add funds to your account in simply a few steps. Deposits from banks to Wealthsimple usually take only a few days. Funds can also be moved to a chequing or savings account using the same steps.
Which Other Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – An equivalent to E-Transfers that allows one to quickly and easily send money to friends and family in Canada.
Wealthsimple Tax – Everything you require to prepare for this tax year and file your taxes online for free. It’s described as simple, accurate and always totally free tax return filing.
Wealthsimple Spend – A combination prepaid debit card and savings account that allows you to earn 1% cashback on all your everyday spending, and also get a very competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform that includes a variety of different courses on saving, investing, crypto, real estate and much more.
Each of the mentioned products, including Wealthsimple Trade can be accessed within the app and at their site with a single login.
But How Should I Get Started Using Wealthsimple Trade?
Click here to create a new Wealthsimple Trade account. For an exclusive registration bonus for our readers you’ll receive the equivalent cash value of a random stock worth up to $4,500 Canadian when you deposit to your account.
So What if I Still Have Additional Questions Related to Zoe Wealthsimple?
If this blog post didn’t given you the answers to all of your questions, and you’re searching for more facts about Zoe Wealthsimple, check out the Wealthsimple website to find answers to every one of your questions.