What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian online investing, securities and crypto trading web app that differentiates itself from other apps by charging no fees.
A online financial services company founded in Autumn twenty fourteen originally as a robo-advisor algorithmic trading app named Wealthsimple Invest, it has changed considerably over the previous eight years to include Wealthsimple Trade, a zero fees discount brokerage app.
Does Wealthsimple Trade Charge Any Kind of Fees?
Wealthsimple Trade allows consumers trade stand alone stocks and also ETFs without needing to pay any fees. The exception to this is when you’re trading ETFs and stocks that are denominated in USD currency. In that case, they do charge a nominal currency conversion fee when buying and selling. However, behind us are the times of having to pay more than $7 per trade with discount brokerages as was common only a few years ago.
Exactly How Much in Funds Will I Need to Start on Wealthsimple Trade?
Wealthsimple is unique in that they allow new customers to make a minimum deposit of only $1. The majority of traditional banks and discount brokerages have large min deposit amounts of $1,000-$5000. This makes it difficult for the normal investor to start. With Wealthsimple Trade, you don’t have to be wealthy to get started with trading stocks and ETFs.
Does Wealthsimple Trade Offer RRSP Accounts?
They do. Wealthsimple Trade offers CRA registered and non-CRA-registered account types. One are free to choose between both RRSP and TFSA account types in the setup phase.
Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade offers a easy to use mobile app offered on both IOS and also Android. The mobile app makes the signup phase and also trading of stocks and ETFs truly a breeze.
But Is Wealthsimple Trade Legit?
For sure. Wealthsimple Trade is safe. Wealthsimple has over 15 billion CAD of Assets Under Management (AUM). they’ve been doing business for more than 7 years and employs over 600 people. The main shareholder is the large public Canadian entity Power Corp of Canada. Weapthsimple Trade was the first no-fees online brokerage operating in Canada.
How Can I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it incredibly straight forward to add money to an account. Just connect to a chequing or savings account to your Trade account, and fund your account in just a couple of steps. Deposits from your bank to Wealthsimple normally take only a couple of days. Funds can also be moved back to a chequing or savings account through the same method.
What Additional Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is equivalent to E-transfers that allows you to quickly and efficiently transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for tax year and submit your taxes online free. It’s advertised to be simple, accurate and always free income tax filing.
Wealthsimple Spend – A hybrid prepaid debit card and savings account that lets you to get 1% cashback on your spending, and also get a very competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform that offers a bunch of different online courses on different topics such as saving, investments, crypto, home buying and much more.
Each of the listed features, along with Wealthsimple Trade can be accessed within the app or on the website with one login.
So How do I Get Started Using Wealthsimple Trade?
Click here to create your Wealthsimple Trade account. For a special registration bonus offer to our readers you’ll get the cash value of a share valued at $25 up to $4,500 CAD when you deposit to your account.
But What if I Still Have Additional Questions Related to Xrp Wealthsimple?
If this article didn’t answered all of your questions, and you’re searching for further specific answers about Xrp Wealthsimple, visit the Wealthsimple website for answers to every one of your questions.