What Exactly is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian online investing, stock plus crypto trading platform that differentiates itself from the competition by charging absolutely no fees.
A online financial services business founded in the Autumn 2014 exclusively as a robo advisor automated trading app named Wealthsimple Invest, it has evolved significantly over the previous eight years to also feature Wealthsimple Trade, a no fees discount brokerage platform.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade allows Canadian investors to trade both single stocks and also ETFs without paying commissions. The exception to this is when you’re trading securities that are displayed in USD currency. In this case, they charge a currency conversion fee both when buying and selling. However, gone are the days of paying more than $7 per trade with discount brokerages as was common just a couple years past.
How Much Cash do I Need to Have in Order to Begin Investing With Wealthsimple Trade?
Wealthsimple is cool such that they will allow new customers to make a minimum deposit of just $1. Most traditional banks and discount brokerages have sizeable initial deposit amounts of 1K-5k. This makes it hard for the common investor to get started. With Wealthsimple Trade, one doesn’t have to already be wealthy to begin trading stocks and ETFs.
So Does Wealthsimple Trade Offer TFSA Accounts?
It does. Wealthsimple Trade offers registered and non-registered accounts. You may select between both RRSP and TFSA accounts during the setup wizard.
But Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade offers a easy to use mobile app that is offered to download on both Apple and also Android. The mobile app makes the enrollment steps and the trading of stocks and ETFs super a breeze.
Is Wealthsimple Trade Safe?
Of course. Wealthsimple Trade is legit. Wealthsimple reports more than 15 billion CAD of Assets Under Management . They have been operating for more than 7 years and right now employs roughly 600 folks. The majority owner is the large public Canadian corporation Power Corp of Canada. Weapthsimple Trade is the first no-fees digital discount brokerage operating in Canada.
How Can I Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it easy to fund a new account. Just connect to a chequing or savings account to your Trade account, and then fund your account in only a few clicks. Deposits from banks to Wealthsimple usually take only a couple of days. Funds can just as easily be moved back to a chequing or savings accounts with the exact same method.
What Other Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – An alternative to Interac E-transfers which allows you to quickly and easily send cash to friends and family in Canada.
Wealthsimple Tax – Everything you need to get ready for tax year and file your taxes online free. It’s advertised to be easy, accurate and always totally free income tax filing.
Wealthsimple Spend – A combination prepaid debit card and savings account which allows one to get 1% cashback on your purchases, as well as get a very competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform that includes a ton of different online courses on saving, investments, crypto, real estate and much more.
All of the above products, along with Wealthsimple Trade can be found in the app and from the site with a single login.
So How Should I Start With Wealthsimple Trade?
Click here to register for a Wealthsimple Trade account. For an exclusive signup bonus to our audience you will receive the equivalent cash value of a share valued at up to $4,500 Canadian when you deposit to your account.
But What if I Still Have Additional Questions Related to Xrp Stock Wealthsimple?
If this blog post still hasn’t given you the answers to each of your questions, and you’re still searching for further information about Xrp Stock Wealthsimple, check out the Wealthsimple site for answers to every one of your questions.