What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian online Financial, stock plus crypto trading platform that distinguishes itself from similar apps by charging no fees.
A Toronto, Ontario based fintech company founded in Fall of twenty fourteen originally as a robo advisor trading platform called Wealthsimple Invest, it has changed significantly over the past 8 years to also include Wealthsimple Trade, a no fees discount brokerage app.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade allows consumers to trade both single stocks and ETFs without paying any fees. The exception to this is when you’re trading stocks which are listed in USD. In this case, they do charge a small currency conversion fee both when buying and selling. However, gone are the days of paying Upwards of $7 for each trade with digital discount brokerages as was expected just a few years past.
How Much in Funds do I Need to Have in Order to Start Investing on Wealthsimple Trade?
Wealthsimple is special such that they will allow investors to make a minimum deposit of just $1. The majority of traditional banks and discount brokerages have large minimum deposit amounts of $1000-$5,000. This makes it tough for the every day investor to get started. With Wealthsimple Trade, you won’t have to already be wealthy to start trading stocks and ETFs.
Does Wealthsimple Trade Offer RRSP Accounts?
They do. Wealthsimple Trade offers registered and non-registered account types. You can select between both RRSP and TFSA account types during the setup wizard.
Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade has a convenient mobile app that is available on both IOS and also Google Play. The mobile app makes the signup process and also trading of stocks and ETFs super a breeze.
So Is Wealthsimple Trade Safe?
For sure. Wealthsimple Trade is secure. Wealthsimple has more than 15 billion Canadian in Assets Under Management . They have been operating for more than 7 years and at this time employs about 600 folks. The primary owner is the large publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the first no-fee digital brokerage operating in Canada.
But How Do I Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it incredibly straight forward to add funds to your new account. Just connect a chequing or savings account with your Trade account, and then add money to your account in just a few clicks. Deposits from your bank to Wealthsimple usually take just a couple of days. Funds can also be moved back to a chequing or savings accounts through the exact same method.
What Additional Features and Products Are Available?
Wealthsimple Cash – An alternative to E-transfers that allows one to quickly and easily transfer 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 pitched as simple, accurate and always totally free income tax filing.
Wealthsimple Spend – A hybrid prepaid visa and savings product that lets you to recieve 1% cashback on all your spending, as well as get a competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform which includes a bunch of different courses on saving, investments, crypto, home buying and more.
Every one of the above features, including Wealthsimple Trade can be found on the app or at the website with your Wealthsimple login.
How Should I Get Started With Wealthsimple Trade?
Click here to signup for a new Wealthsimple Trade account. For an exclusive registration bonus offer to our audience you’ll receive the cash value of a stock worth $25 up to $4,500 CAD when you deposit to your account.
But What if I Still Have Additional Questions Related to Wealthsimple Xrp?
If this blog post hasn’t given you the answers to each of your questions, and you’re browsing for further answers about Wealthsimple Xrp, visit the Wealthsimple site for answers to each your questions.