What is Wealthsimple?
Wealthsimple is a simple to use Canadian web based Financial, stock plus crypto trading web app that sets itself apart from the competition by charging no fees.
A Toronto, Ontario based online financial services company launched in Fall of 2014 originally as a robo advisor algorithmic automated trading app named Wealthsimple Invest, it has changed substantially over the past 8 years to also feature Wealthsimple Trade, a zero fees discount brokerage app.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade lets Canadian investors trade both single stocks and also ETFs without needing to pay any fees. The exception to this is when you’re trading stocks and ETFs which are displayed in US Dollars. In that case, they do charge a small currency conversion fee both when buying and selling. But, gone are the days of paying $7-12 per trade with online discount brokerages as was the case a couple years past.
Exactly How Much in Funds Will I Need to Start Investing With Wealthsimple Trade?
Wealthsimple is special in that they allow Canadian investors to make a minimum deposit of only $1. The majority of alternative banks and discount brokerages have sizeable min deposit amounts of 1K-5k. This makes it impossible for the normal new investor to start. With Wealthsimple Trade, one doesn’t have to be wealthy to get started with trading stocks and ETFs.
But Does Wealthsimple Trade Offer Registered Accounts?
Yes. Wealthsimple Trade has available both registered and non-registered account types. You are free to choose between both RRSP and TFSA accounts during the setup process.
So Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade has a convenient mobile app available on both IOS and also Android. The smartphone app makes the registration process and also trading of stocks and ETFs very a breeze.
But Is Wealthsimple Trade Trustworthy?
Yes. Wealthsimple Trade is legit. Wealthsimple has over 15 billion Canadian in Assets Under Management . They have been operating for more than 7 years and currently employs over 600 people. The controlling shareholder is the admired publicly traded Canadian entity Power Corp of Canada. Weapthsimple Trade was the first no-fee online brokerage to operate in Canada.
But How Does One Fund a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it very simple to add money to an account. Simply connect a chequing or savings account with your Trade account, and then add money to your account in just a few clicks. Deposits from your bank to Wealthsimple normally take a few days. Funds can also be moved back to a chequing or savings accounts by using the same process.
Which Other Features and Products Are Available?
Wealthsimple Cash – This is equivalent to Interac e-transfers that allows anyone to quickly and efficiently transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you require to prepare for this tax season and file your taxes online free. It’s advertised as easy, accurate and always free income tax filing.
Wealthsimple Spend – A combination pre paid visa and savings account which lets you to recieve 1% cashback on all your everyday spending, and also earn a competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance platform that offers a bunch of different courses on saving, investments, crypto, real estate and more.
All of the listed products, along with Wealthsimple Trade may be found within the mobile app and at the site with one login.
So How Can I Get Started Using Wealthsimple Trade?
Click here to create a new Wealthsimple Trade account. As an exclusive signup bonus to our readers you will receive the equivalent cash value of a random Canadian stock worth up to $4,500 CAD as soon as you add funds to your account.
But What if I Still Have Additional Questions Related to How To Buy Xrp In Canada Wealthsimple?
If this review didn’t given you the answers to each of your questions, and you’re browsing for further answers about How To Buy Xrp In Canada Wealthsimple, visit the Wealthsimple site for answers to each your questions.