Xic Wealthsimple

What is Wealthsimple?

Wealthsimple is a simple to use Canadian online Financial, stock plus crypto trading platform that differentiates itself from its competitors by charging no fees. 

A Toronto, Ontario based fintech company launched in the Autumn of 2014 originally as a robo advisor algorithmic automated trading app called Wealthsimple Invest, it has grown substantially over the previous 8 years to feature Wealthsimple Trade, a no fee discount brokerage app.

Does Wealthsimple Trade Charge Its Users Fees?

Wealthsimple Trade allows Canadian investors trade single stocks and ETFs without paying any fees. The exception to this is when you’re trading stocks that are denominated in USD. In this case, they charge a currency conversion fee when buying and selling. But, past us are the days of having to pay Upwards of $7 per trade with digital discount brokerages as was expected a few years ago.

How Much Cash do I Need to Start Investing With Wealthsimple Trade?

Wealthsimple is unique in that they allow Canadians to make a minimum deposit of only $1. The majority of alternative banks and brokerages have sizeable min deposit amounts of 1K-5k. This makes it tough for the common investor to get started. With Wealthsimple Trade, you don’t have to already be wealthy to get started with trading stocks and ETFs.

So Does Wealthsimple Trade Offer Registered Accounts?

They do. Wealthsimple Trade has available registered and non-registered account types. You are free to choose between both RRSP and TFSA accounts during the setup wizard. 

But Does Wealthsimple Trade Offer a Mobile Application?

Yes, Wealthsimple Trade has a well designed mobile app that is offered to download on both IOS and Android. The app makes the registration process and also the trading of stocks and ETFs very a breeze.

Is Wealthsimple Trade Safe?

Yes. Wealthsimple Trade is safe. Wealthsimple boasts in excess of 15 billion Canadian of Assets Under Management . This company has been doing business for more than 7 years and currently employs over 600 folks. The main owner is the public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the very first no-fee online discount brokerage to operate in Canada.

How Can I Deposit to a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it quite straight forward to fund a new account. Simply connect to a chequing or savings account with your Trade account, and then add funds to your account in only a couple of clicks. Deposits from financial institutions to Wealthsimple typically take just a few days. Funds can the same way can be moved to a chequing or savings accounts with the same method.

Which Other Features and Products Are Available?

Wealthsimple Cash – This is alternative to Interac E-Transfers that allow you to quickly and simply send money to friends and family in Canada.

Wealthsimple Tax – Everything you’ll need to get ready for tax season and file your taxes online for free. It’s described to be easy, accurate and always free tax filing.

Wealthsimple Spend – A combination pre paid visa and savings product which allows you to earn 1% cashback on all your purchases, and also earn a competitive 1.5% interest rate on savings.

Personal Finance 101 – This is Wealthsimple’s free personal finance platform that includes a variety of courses on saving, investing, crypto, real estate and much more. 

Every one of the above features, along with Wealthsimple Trade can be accessed within the mobile app or on the site with your Wealthsimple login.

So How Should I Get Started With Wealthsimple Trade?

Click here to setup your Wealthsimple Trade account. As an exclusive signup bonus for our readers you will get the equivalent cash value of a random stock worth up to $4,500 Canadian once you fund your account.

So What if I Still Have Questions Related to Xic Wealthsimple?

If this blog post didn’t answered each of your questions, and you’re still searching for more specific answers about Xic Wealthsimple, visit the Wealthsimple website to find answers to all your questions.