What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian online Financial, stock and crypto trading platform that differentiates itself from similar apps by charging no fees.
A online financial services company launched in the Autumn 2014 exclusively as a robo advisor automated trading platform named Wealthsimple Invest, it has evolved considerably over the previous 8 years to also feature Wealthsimple Trade, a no fee discount brokerage service.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade lets investors to trade both single stocks and ETFs without paying any commissions. The exception to this is when you’re trading ETFs and stocks which are denominated in US Dollars. In that case, they do charge a small currency conversion fee when buying and selling. However, behind us are the days of having to pay Upwards of $7 per each trade with online discount brokerages as was expected just a few years past.
How Much Cash do I Need to Get Started With Wealthsimple Trade?
Wealthsimple is awesome in that they will allow Canadian investors to make a minimum deposit of just $1. The majority of alternative banks and brokerages have sizeable minimum deposit amounts of $1,000-$5000. This makes it hard for the everyday investor to start investing. With Wealthsimple Trade, you won’t need to already be wealthy to get started with trading stocks and ETFs.
So Does Wealthsimple Trade Have Registered Accounts?
It does. Wealthsimple Trade offers both CRA registered and non-registered account types. One can choose both RRSP and TFSA accounts in the setup wizard.
So Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade offers a well designed mobile app that is offered to download on both IOS and also Google Play. The smartphone app makes the registration phase and also trading of stocks and ETFs truly a breeze.
Is Wealthsimple Trade Legit?
Of course. Wealthsimple Trade is secure. Wealthsimple reports in excess of 15 billion CAD of Assets Under Management (AUM). they’ve been operating for more than 7 years and also right now employs about 600 people. The controlling owner is the large publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the first no-fee online brokerage operating in Canada.
How Does One Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it quite simple to add money to an account. Simply connect a chequing or savings account with your Trade account, then fund your account in just a few clicks. Deposits from banks to Wealthsimple normally take only a few days. Funds can just as easily be withdrawn a chequing or savings accounts by the exact same process.
What Additional Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – An equivalent to Interac e-Transfers that allows anyone to quickly and simply transfer money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to get ready for tax season and submit your tax return online free. It’s advertised as easy, accurate and always totally free income tax filing.
Wealthsimple Spend – A hybrid prepaid visa and savings product that allows one to earn 1% cashback on your purchases, and also get a competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform which offers a ton of different online courses on topics like saving, investments, crypto, home buying and more.
Each of the mentioned products, including Wealthsimple Trade may be found within the mobile app or from the website with a single login.
How Can I Begin Using Wealthsimple Trade?
Click here to signup for your Wealthsimple Trade account. For an exclusive registration bonus offer to our readers you’ll receive the cash value of a random Canadian stock worth $25 up to $4,500 CAD once you fund your account.
But What if I Still Have Additional Questions Related to Xrp Wealthsimple?
If this article still hasn’t given you the answers to all of your questions, and you’re searching for more answers about Xrp Wealthsimple, visit the Wealthsimple website for answers to every one of your questions.