Wealthsimple Review 2022: Wealthsimple Xlm

What Exactly is Wealthsimple?

Wealthsimple is a simple to use Canadian digital Financial, stock plus crypto trading web app that differentiates itself from other apps by charging no fees. 

A leading Canadian fintech business launched in Fall twenty fourteen exclusively as a robo advisor automated trading app named Wealthsimple Invest, it has changed significantly over the last 8 years to include Wealthsimple Trade, a no fees discount brokerage platform.

Does Wealthsimple Trade Charge Any Kind of Fees?

Wealthsimple Trade lets Canadian investors to trade both individual stocks and also ETFs without needing to pay any commissions. The exception to this is when trading ETFs and stocks which are displayed in USD. In that case, they charge a small currency conversion fee both when buying and selling. But, past us are the days of having to pay $7-12 for each trade with discount brokerages as was expected a couple years ago.

How Much Money do I Need in Order to Start Investing With Wealthsimple Trade?

Wealthsimple is unique such that they allow Canadians to make a minimum deposit of just $1. Many alternative banks and discount brokerages have sizeable minimum deposit amounts of 1k-$5,000. This makes it tough for the typical new investor to start. With Wealthsimple Trade, you don’t need to already be wealthy to begin trading stocks and ETFs.

But Does Wealthsimple Trade Offer Registered Accounts?

Of course. Wealthsimple Trade has available both CRA registered and non-registered account types. You can select between both RRSP and TFSA account types in the setup process. 

Does Wealthsimple Trade Offer a Mobile App?

Yes, Wealthsimple Trade offers a modern mobile app offered on both IOS and also Google Play. The app makes the signup steps and also the trading of stocks and ETFs truly simple.

Is Wealthsimple Trade Secure?

Yes. Wealthsimple Trade is safe. Wealthsimple reports in excess of 15 billion Canadian in Assets Under Management . These folks have been doing business for more than 7 years and right now employs over 600 folks. The main owner is the admired publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the very first no-fees online brokerage operating in Canada.

How Do I Add Funds to a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it easy to fund a new account. Just connect the app to a chequing or savings account with your Trade account, then fund your account in simply a few steps. Deposits from financial institutions to Wealthsimple normally take just a few days. Funds can the same way can be moved to a chequing or savings accounts by the exact same method.

What Other Features and Products Does Wealthsimple Offer?

Wealthsimple Cash – This is equivalent to E-Transfers which allows one to quickly and easily send money to friends and family in Canada.

Wealthsimple Tax – Everything you’ll require to prepare for this tax year and file your tax return online free. It’s pitched to be simple, accurate and always totally free income tax filing.

Wealthsimple Spend – A combination pre paid visa and savings product that lets one to recieve 1% cashback on all your spending, and also get a competitive 1.5% interest on savings.

Personal Finance 101 – Wealthsimple’s free personal finance platform that offers a ton of different online courses on topics like saving, investing, crypto, mortgages and much more. 

Each of the listed products, including Wealthsimple Trade may be found on the app and at the website with a single login.

How do I Start With Wealthsimple Trade?

Click here to signup for your Wealthsimple Trade account. For an exclusive signup bonus offer to our readers you will receive the equivalent cash value of a stock valued at up to $4,500 CAD once you deposit to your account.

What if I Still Have Questions Related to Wealthsimple Xlm?

If this blog post still hasn’t given you the answers to all of your questions, and you’re browsing for further specific facts relating to Wealthsimple Xlm, visit the Wealthsimple website for answers to every one of your questions.