What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian web based investing, stocks and crypto trading platform that sets itself apart from its competitors by charging absolutely no fees.
A leading Canadian online financial services business founded in the Autumn twenty fourteen originally as a robo-advisor automated trading app called Wealthsimple Invest, it has changed substantially over the past 8 years to feature Wealthsimple Trade, a no fees discount brokerage app.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade lets consumers trade both individual stocks and also ETFs without paying commissions. The exception to this is when trading ETFs and stocks which are listed in US Dollars. In which case, they do charge a currency conversion fee when buying and selling. However, behind us are the days of paying $7-12 for each trade with online discount brokerages as was normal just a couple years ago.
Exactly How Much Money Will I Need to Have to Start Investing on Wealthsimple Trade?
Wealthsimple is cool such that they will allow investors to make a minimum deposit of just $1. Many traditional banks and discount brokerages have large initial deposit amounts of 1k-5k. This makes it hard for the every day investor to start. With Wealthsimple Trade, one doesn’t have to already be wealthy to start trading stocks and ETFs.
But Does Wealthsimple Trade Have TFSA Accounts?
They do. Wealthsimple Trade has CRA registered and non-CRA-registered account types. One are free to select between both RRSP and TFSA account types in the setup process.
So Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade has a well designed mobile app that is offered to download on IOS and also Google Play. The smartphone app makes the signup process and trading of stocks and ETFs super painless.
But Is Wealthsimple Trade Legit?
Yes. Wealthsimple Trade is secure. Wealthsimple boasts over 15 billion CAD in Assets Under Management (AUM). They have been expanding for more than 7 years and also right now employs more than 600 folks. The majority shareholder is the respected public Canadian corporation Power Corp of Canada. Weapthsimple Trade was the first no-fee online brokerage operating in Canada.
So How Does One Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it very simple to fund your new account. Just connect to a chequing or savings account with your Trade account, and add funds to your account in only a few steps. Deposits from your bank to Wealthsimple typically take just a few days. Funds can also be moved back to a chequing or savings accounts by using the exact same method.
What Additional Features and Products Are Offered by Wealthsimple?
Wealthsimple Cash – An equivalent to Interac E-Transfers that allows anyone to quickly and easily transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you require to prepare for tax year and file your taxes online for free. It’s pitched to be simple, accurate and always totally free tax filing.
Wealthsimple Spend – A hybrid pre paid visa and savings account that allows you to recieve 1% cashback on your purchases, as well as earn a very competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance platform that includes a variety of different courses on saving, investments, crypto, real estate and more.
Every one of the listed features, including Wealthsimple Trade may be found within the app and from their website with your Wealthsimple login.
But How Can I Start Using Wealthsimple Trade?
Click here to register for a Wealthsimple Trade account. As a special registration bonus to our readers you will receive the equivalent cash value of a stock valued at $25 up to $4,500 Canadian when you make an initial deposit to your account.
So What if I Still Have Questions Concerning Xpeng Stock On Wealthsimple?
If this review still hasn’t given you the answers to each of your questions, and you’re browsing for further specific info about Xpeng Stock On Wealthsimple, go to the Wealthsimple site to get answers to each your questions.