What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian online investing, securities and crypto trading app that sets itself apart from its competitors by charging no fees.
A fintech company launched in the Fall twenty fourteen originally as a robo advisor trading platform called Wealthsimple Invest, it has evolved considerably over the previous eight years to include Wealthsimple Trade, a zero fees discount brokerage app.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade allows Canadian investors to trade both individual stocks and also ETFs without having to pay any commissions. The exception is when you’re trading stocks which are displayed in USD. In that case, they charge a nominal currency conversion fee when buying and selling. However, gone are the times of paying $7-12 for each trade with online discount brokerages as was the norm only a few years ago.
Exactly How Much Money do I Need to Have in Order to Start on Wealthsimple Trade?
Wealthsimple is unique such that they will allow investors to make a minimum deposit of just $1. The majority of traditional banks and brokerages have quite large initial deposit amounts of $1,000-5k. This makes it impossible for the every day new investor to start. With Wealthsimple Trade, you won’t need to already be wealthy to begin trading stocks and ETFs.
So Does Wealthsimple Trade Have RRSP Accounts?
Yes. Wealthsimple Trade has registered and non-registered account types. You are able to select both RRSP and TFSA account types in the setup wizard.
But Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade has a convenient mobile app that is offered to download on both iOS and also Android. The mobile app makes the signup steps and also trading of stocks and ETFs incredibly a breeze.
But Is Wealthsimple Trade Legit?
Of course. Wealthsimple Trade is trustworthy. Wealthsimple reports over 15 billion CAD in Assets Under Management . This company has been in business for more than 7 years and also employs over 600 folks. The majority owner is the large public Canadian entity Power Corp of Canada. Weapthsimple Trade was the very first no-fees online brokerage operating in Canada.
How Can I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it so easy to deposit to your account. Just connect the app to a chequing or savings account to your Trade account, and fund your account in only a couple of clicks. Deposits from your bank to Wealthsimple normally take a few days. Funds can just as easily be withdrawn your chequing or savings account by using the exact same process.
What Additional Features and Products Are Available?
Wealthsimple Cash – This is equivalent to Interac e-transfers that allow anyone to quickly and easily send money to friends and family in Canada.
Wealthsimple Tax – Everything you need to get ready for this tax year and submit your tax return online for free. It’s pitched to be simple, accurate and always free tax filing.
Wealthsimple Spend – A hybrid prepaid debit card and savings account that allows one to recieve 1% cashback on your everyday purchases, and also earn a competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform that includes a bunch of different online courses on topics like saving, investing, crypto, home buying and much more.
Each of the listed products, along with Wealthsimple Trade can be found in the mobile app and at their site with a single login.
How Should I Begin With Wealthsimple Trade?
Click here to create your Wealthsimple Trade account. As a special signup bonus for our audience you’ll receive the cash value of a random stock valued at up to $4,500 CAD once you add funds to your account.
So What if I Still Have Questions Related to Xeqt Wealthsimple?
If this review hasn’t given you the answers to each of your questions, and you’re still browsing for additional specific answers about Xeqt Wealthsimple, visit the Wealthsimple site to find answers to each your questions.