What is Wealthsimple?
Wealthsimple is an easy to use Canadian digital investing, stock plus crypto trading web app that sets itself apart from the competition by charging absolutely no fees.
A leading Canadian fintech company launched in the Autumn 2014 exclusively as a robo advisor algorithmic trading platform named Wealthsimple Invest, it has improved considerably over the past eight years to also feature Wealthsimple Trade, a zero fees discount brokerage platform.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade allows Canadian consumers to trade both single stocks and also ETFs without needing to pay any commissions. The exception to this is when you’re trading stocks that are displayed in USD currency. In this case, they do charge a small currency conversion fee both when buying and selling. But, behind us are the times of having to pay more than $7 per trade with discount brokerages as was expected just a few years past.
How Much Money do I Need to Have to Start Investing With Wealthsimple Trade?
Wealthsimple is special such that they will allow Canadian investors to make a minimum deposit of only $1. Most alternative banks and brokerages have sizeable minimum deposit amounts of 1K-5k. This makes it difficult for the everyday new investor to get started. With Wealthsimple Trade, you won’t have to already be wealthy to begin trading stocks and ETFs.
Does Wealthsimple Trade Offer TFSA Accounts?
Yes. Wealthsimple Trade has available CRA registered and non-CRA-registered accounts. You are free to choose between both RRSP and TFSA accounts in the setup wizard.
Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade has a easy to use mobile app that is available to download on IOS and Google Play. The app makes the registration steps and the trading of stocks and ETFs simple.
But Is Wealthsimple Trade Legit?
Most definitely. Wealthsimple Trade is legit. Wealthsimple boasts more than 15 billion Canadian in Assets Under Management (AUM). These folks have been doing business for more than 7 years and currently employs about 600 people. The main owner is the respected publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade is the first no-fees online discount brokerage to operate in Canada.
How Does One Fund a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it incredibly simple to deposit to a new account. Just connect the app to a chequing or savings account to your Trade account, and then fund your account in simply a couple of steps. Deposits from banks to Wealthsimple usually take only a couple of days. Funds can just as easily be moved back to your chequing or savings account with the exact same process.
What Additional Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is equivalent to e-transfers that allows one to quickly and efficiently send cash to friends and family in Canada.
Wealthsimple Tax – Everything you require to get ready for this tax year 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 account that allows one to recieve 1% cashback on all your everyday 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 topics like saving, investing, crypto, home buying and more.
Each of the above products, along with Wealthsimple Trade may be accessed in the app or from their website with a single login.
So How Should I Start With Wealthsimple Trade?
Click here to signup for your Wealthsimple Trade account. For a special registration bonus for our readers you will receive the equivalent cash value of a random Canadian stock valued at up to $4,500 Canadian as soon as you deposit to your account.
What if I Still Have Questions Concerning Buy Xrp Wealthsimple?
If this blog post still hasn’t answered all of your questions, and you’re still searching for additional facts relating to Buy Xrp Wealthsimple, check out the Wealthsimple site to get answers to all your questions.