Hollywood often portrays stock traders as wealthy elitists who spend more time partying than working and let’s not even get into the Instagram traders with their Lambo fleets.
But with more and more everyday folks gaining access to the stock market via platforms like Wealthsimple Trade, today’s average trader could just as easily be building their wealth from the comfort of home or on their daily commute.Commission creep is real One of the most consistent costs for traders is commissions, which is a standard service charge applied by the platform, broker or investment firm that helps with the purchase and sale of stocks. Whether you sell at a profit or loss, your provider is going to want their piece of the pie.Article content
Wealthsimple Trade has no commission fees, transfer charges or other hidden fees. They charge a 1.5 per cent currency conversion fee on Canadian to U.S. dollar conversions when trading U.S.-listed securities, which you can easilyAnother common concern is the risk that comes along with trading stocks. There is no way to completely eliminate risk when investing in the market – the best you can do is put in the work to make sound trades.
However, if you really don’t want to risk your own money in the beginning, you always have the option of collecting yourHere’s how it works: If you fund and open a Personal Wealthsimple Trade profile, you will get a free stock deposited into your account within seven days. That means you could receive one of the most popular stocks on Wealthsimple Trade absolutely free.