What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian digital investing, stock and crypto trading web app that sets itself apart from similar apps by charging absolutely no fees.
A Toronto, Ontario based fintech company founded in Fall of 2014 exclusively as a robo advisor algorithmic trading app named Wealthsimple Invest, it has evolved substantially over the previous eight years to also feature Wealthsimple Trade, a no fees discount brokerage service.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade allows investors to trade stand alone stocks and also ETFs without having to pay commissions. The exception to this is when trading stocks and ETFs which are displayed in USD currency. In this case, they charge a nominal currency conversion fee both when buying and selling. But, past us are the days of paying more than $7 for each trade with online discount brokerages as was common just a few years past.
How Much Money do I Need to Start With Wealthsimple Trade?
Wealthsimple is cool such that they will allow investors to make a minimum deposit of only $1. Many alternative banks and brokerages have quite large minimum deposit amounts of 1k-5K. This makes it hard for the common new investor to get started. With Wealthsimple Trade, you don’t need to already be wealthy to get started with trading stocks and ETFs.
Does Wealthsimple Trade Offer Registered Accounts?
It does. Wealthsimple Trade offers registered and non-CRA-registered account types. You can choose between both RRSP and TFSA account types during the setup wizard.
So Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade has a convenient mobile app offered to download on IOS and also Google Play. The app makes the enrollment process and trading of stocks and ETFs super easy.
So Is Wealthsimple Trade Trustworthy?
Yes. Wealthsimple Trade is safe. Wealthsimple reports in excess of 15 billion Canadian of Assets Under Management . These folks have been doing business for more than 7 years and also currently employs about 600 people. The controlling shareholder is the large public Canadian entity Power Corp of Canada. Weapthsimple Trade was the very first no-fees online brokerage to operate in Canada.
How Does One Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it incredibly simple to add money to a new account. Just connect to a chequing or savings account to your Trade account, then add funds to your account in only a few clicks. Deposits from financial institutions to Wealthsimple usually take just a few days. Funds can the same way can be withdrawn your chequing or savings account using the exact same steps.
What Additional Benefits and Products Does Wealthsimple Offer?
Wealthsimple Cash – An equivalent to e-Transfers which allow anyone to quickly and efficiently transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to get ready for tax year and submit your tax return online free. It’s pitched as simple, accurate and always totally free income tax filing.
Wealthsimple Spend – A hybrid pre paid debit card and savings account that lets you to get 1% cashback on all your purchases, and also get a very competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform which offers a variety of online courses on topics like saving, investing, crypto, real estate and much more.
Each of the mentioned features, along with Wealthsimple Trade can be found inside the app and at the site with your Wealthsimple login.
But How do I Get Started With Wealthsimple Trade?
Click here to register for a new Wealthsimple Trade account. For a special registration bonus offer to our readers you’ll receive the equivalent cash value of a random Canadian stock worth $25 up to $4,500 CAD as soon as you add funds to your account.
So What if I Still Have Questions Concerning How To Buy Xrp In Canada Wealthsimple?
If this article didn’t given you the answers to each of your questions, and you’re looking for additional information relating to How To Buy Xrp In Canada Wealthsimple, go to the Wealthsimple website for answers to all your questions.