What is Wealthsimple?
Wealthsimple is an easy to use Canadian digital Financial, stocks and crypto trading app that sets itself apart from the competition by charging absolutely no fees.
A leading Canadian online financial services business launched in Autumn 2014 originally as a robo-advisor algorithmic trading app called Wealthsimple Invest, it has changed substantially over the last 8 years to include Wealthsimple Trade, a no fees discount brokerage app.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade allows consumers to trade both single stocks and ETFs without paying any commissions. The exception to this is when trading stocks and ETFs which are displayed in USD. In that case, they charge a nominal currency conversion fee when buying and selling. However, past us are the days of having to pay $7-12 per trade with online discount brokerages as was expected just a couple years ago.
How Much Cash Will I Need to Have to Start Investing on Wealthsimple Trade?
Wealthsimple is awesome such that they will allow Canadian investors to make a minimum deposit of only $1. Most alternative banks and brokerages have sizeable min deposit amounts of $1000-5k. This makes it impossible for the everyday new investor to start investing. With Wealthsimple Trade, one doesn’t have to be wealthy to start trading stocks and ETFs.
Does Wealthsimple Trade Offer Registered Accounts?
It does. Wealthsimple Trade has CRA registered and non-CRA-registered account types. One are able to choose between both RRSP and TFSA account types in the setup process.
So Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade offers a easy to use mobile app that is offered on both IOS and also Android. The smartphone app makes the registration steps and the trading of stocks and ETFs simple.
Is Wealthsimple Trade Safe?
Yes. Wealthsimple Trade is secure. Wealthsimple has more than 15 billion CAD of Assets Under Management (AUM). These folks have been in business for more than 7 years and also now employs about 600 Canadians. The controlling shareholder is the admired public Canadian corporation Power Corp of Canada. Weapthsimple Trade was the first no-fees digital discount brokerage operating in Canada.
So How Do I Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it quite simple to fund your new account. Simply connect the app to a chequing or savings account to your Trade account, and add funds to your account in only a few clicks. Deposits from financial institutions to Wealthsimple normally take a couple of days. Funds can just as easily be withdrawn your chequing or savings account by the same method.
Which Other Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is alternative to Interac e-Transfers that allow you to quickly and efficiently send money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to prepare for tax season and file your tax return online for free. It’s described to be simple, accurate and always free income tax filing.
Wealthsimple Spend – A combination pre paid debit card and savings account which allows one to recieve 1% cashback on all your everyday spending, and also get a very competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform that offers a bunch of different online courses on topics like saving, investing, crypto, home buying and more.
Each of the listed products, along with Wealthsimple Trade may be accessed on the mobile app and at the website with a single login.
So How Should I Begin With Wealthsimple Trade?
Click here to signup for a Wealthsimple Trade account. For an exclusive signup bonus for our audience you will receive the equivalent cash value of a stock worth up to $4,500 CAD when you fund your account.
So What if I Still Have Questions About Xrp Stock Wealthsimple?
If this review didn’t answered each of your questions, and you’re looking for additional specific facts relating to Xrp Stock Wealthsimple, visit the Wealthsimple website to get answers to all your questions.