What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian web based Financial, stock plus crypto trading web app that differentiates itself from other apps by charging absolutely no fees.
A online financial services company founded in the Fall of twenty fourteen originally as a robo advisor algorithmic automated trading app called Wealthsimple Invest, it has grown significantly over the past eight years to also include Wealthsimple Trade, a no fee discount brokerage app.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade allows consumers to trade single stocks and also ETFs without having to pay any commissions. The exception to this is when trading ETFs and stocks that are denominated in USD currency. In which case, they do charge a small currency conversion fee both when buying and selling. But, gone are the times of paying $7-12 per each trade with digital discount brokerages as was expected a couple years ago.
How Much in Funds Will I Need to Start Investing on Wealthsimple Trade?
Wealthsimple is awesome in that they will allow Canadians to make a minimum deposit of only $1. The majority of alternative banks and brokerages have sizeable minimum deposit amounts of 1K-5k. This makes it impossible for the typical investor to get started. With Wealthsimple Trade, you won’t have to be wealthy to get started with trading stocks and ETFs.
But Does Wealthsimple Trade Have Registered Accounts?
Yes. Wealthsimple Trade has available both registered and non-registered accounts. One are free to choose both RRSP and TFSA accounts in the setup phase.
So Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade has a well designed mobile app offered to download on IOS and Android. The app makes the enrollment phase and trading of stocks and ETFs very easy.
But Is Wealthsimple Trade Trustworthy?
For sure. Wealthsimple Trade is trustworthy. Wealthsimple reports in excess of 15 billion CAD in Assets Under Management (AUM). These folks have been operating for more than 7 years and also at this time employs over 600 Canadians. The primary owner is the public Canadian entity Power Corp of Canada. Weapthsimple Trade is the very first no-fees online discount brokerage to operate in Canada.
So How Can I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it very simple to fund your new account. Just connect a chequing or savings account with your Trade account, and then fund your account in just a few clicks. Deposits from financial institutions to Wealthsimple usually take just a few days. Funds can also be moved back to your chequing or savings accounts through the exact same process.
Which Additional Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is alternative to e-Transfers which allows anyone to quickly and simply transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to get ready for this tax year and file your tax return online for free. It’s advertised to be easy, accurate and always totally free tax filing.
Wealthsimple Spend – A combination pre paid debit card and savings account that lets one to earn 1% cashback on your everyday purchases, and also get a competitive 1.5% interest rate on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform which includes a bunch of courses on topics like saving, investments, crypto, home buying and much more.
Each of the above products, including Wealthsimple Trade may be accessed on the mobile app or from their site with a single login.
So How Should I Start With Wealthsimple Trade?
Click here to setup your Wealthsimple Trade account. As an exclusive signup bonus offer to our audience you will get the equivalent cash value of a Canadian stock valued at $25 up to $4,500 Canadian as soon as you add funds to your account.
What if I Still Have Additional Questions About How To Buy Xrp In Canada Wealthsimple?
If this blog post didn’t given you the answers to each of your questions, and you’re still looking for more specific info relating to How To Buy Xrp In Canada Wealthsimple, check out the Wealthsimple website for answers to all your questions.