What is Wealthsimple?
Wealthsimple is an easy to use Canadian online Financial, securities and crypto trading app that distinguishes itself from other apps by charging no fees.
A Toronto, Ontario based online financial services business founded in Autumn of 2014 exclusively as a robo-advisor trading platform called Wealthsimple Invest, it has grown substantially over the last 8 years to also feature Wealthsimple Trade, a no fees discount brokerage service.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade allows Canadian consumers to trade stand alone stocks and ETFs without needing to pay commissions. The exception is when trading stocks and ETFs that are listed in US Dollars. In that case, they will charge a currency conversion fee both when buying and selling. But, past us are the days of having to pay more than $7 per trade with online discount brokerages as was common only a couple years past.
How Much Cash Will I Need to Have to Begin Investing on Wealthsimple Trade?
Wealthsimple is special in that they allow investors to make a minimum deposit of only $1. The majority of traditional banks and brokerages have sizeable initial deposit amounts of $1000-$5000. This makes it tough for the everyday new investor to start. With Wealthsimple Trade, you don’t need to already be wealthy to get started with trading stocks and ETFs.
Does Wealthsimple Trade Offer Registered Accounts?
They do. Wealthsimple Trade has available both CRA registered and non-CRA-registered accounts. One are able to select between both RRSP and TFSA accounts during the setup phase.
So Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade offers a well designed mobile app that is available to download on both IOS and also Android. The app makes the signup process and also the trading of stocks and ETFs truly simple.
Is Wealthsimple Trade Legit?
Definitely. Wealthsimple Trade is secure. Wealthsimple boasts over 15 billion CAD of Assets Under Management . They have been doing business for more than 7 years and employs roughly 600 Canadians. The main shareholder is the respected public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the very first no-fee digital brokerage to operate in Canada.
So How Do I Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it incredibly simple to add funds to your account. Just connect the app to a chequing or savings account with your Trade account, and fund your account in just a few clicks. Deposits from your bank to Wealthsimple normally take a couple of days. Funds can also be withdrawn your chequing or savings account by the exact same process.
Which Additional Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is alternative to Interac E-Transfers which allows anyone to quickly and simply transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you require to get ready for tax year and file your tax return online free. It’s described to be easy, accurate and always free income tax filing.
Wealthsimple Spend – A combination pre paid visa and savings account that lets you to earn 1% cashback on all your everyday spending, as well as earn a very competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance platform which offers a ton of different online courses on different topics such as saving, investments, crypto, real estate and much more.
All of the mentioned features, along with Wealthsimple Trade can be accessed within the app and on the website with one login.
So How do I Begin With Wealthsimple Trade?
Click here to signup for a Wealthsimple Trade account. As an exclusive registration bonus offer to our audience you will receive the cash value of a stock worth $25 up to $4,500 CAD when you fund your account.
So What if I Still Have Additional Questions Concerning Wealthsimple Xrp?
If this review still hasn’t answered each of your questions, and you’re looking for additional facts about Wealthsimple Xrp, visit the Wealthsimple site for answers to all your questions.