What is Wealthsimple?
Wealthsimple is a simple to use Canadian web based Financial, stocks and crypto trading platform that differentiates itself from the competition by charging absolutely no fees.
A Toronto, Ontario based fintech company founded in the Fall 2014 exclusively as a robo advisor automated trading platform called Wealthsimple Invest, it has evolved considerably over the past eight years to also feature Wealthsimple Trade, a no fee discount brokerage app.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade allows investors to trade both stand alone stocks and also ETFs without needing to pay any commissions. The exception is when trading ETFs and stocks which are denominated in USD currency. In that case, they will charge a nominal currency conversion fee when buying and selling. But, past us are the times of paying more than $7 per trade with digital discount brokerages as was expected just a couple years past.
Exactly How Much in Funds do I Need to Get Started With Wealthsimple Trade?
Wealthsimple is cool such that they allow Canadian investors to make a minimum deposit of just $1. The majority of alternative banks and discount brokerages have quite large minimum deposit amounts of $1,000-5K. This makes it difficult for the typical new investor to get started. With Wealthsimple Trade, you won’t need to be wealthy to get started with trading stocks and ETFs.
Does Wealthsimple Trade Have TFSA Accounts?
Yes. Wealthsimple Trade has both CRA registered and non-registered account types. You are able to select both RRSP and TFSA accounts in the setup phase.
So Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade has a easy to use mobile app that is offered on IOS and Google Play. The app makes the signup steps and trading of stocks and ETFs truly easy.
So Is Wealthsimple Trade Legit?
Yes. Wealthsimple Trade is safe. Wealthsimple boasts over 15 billion Canadian of Assets Under Management . These folks have been doing business for more than 7 years and now employs over 600 folks. The primary owner is the admired publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the very first no-fees online discount brokerage operating in Canada.
So How Can I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it so simple to deposit to your new account. Simply connect to a chequing or savings account with your Trade account, and then add funds to your account in only a couple of steps. Deposits from financial institutions to Wealthsimple typically take just a few days. Funds can the same way can be withdrawn your chequing or savings account by using the exact same method.
Which Other Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is alternative to e-transfers which allow anyone to quickly and easily send money to friends and family in Canada.
Wealthsimple Tax – Everything you require to prepare for tax year and submit your tax return online free. It’s advertised to be simple, accurate and always free tax filing.
Wealthsimple Spend – A hybrid pre paid visa and savings account which lets one to earn 1% cashback on your everyday spending, and also get a very competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance platform which offers a variety of different online courses on topics like saving, investing, crypto, mortgages and much more.
Each of the mentioned features, along with Wealthsimple Trade may be found inside the mobile app or on their site with a single login.
So How do I Begin With Wealthsimple Trade?
Click here to register for a new Wealthsimple Trade account. For an exclusive signup bonus for our audience you will get the cash value of a random share worth up to $4,500 Canadian when you make an initial deposit to your account.
What if I Still Have Additional Questions Concerning Xpeng Stock On Wealthsimple?
If this blog post hasn’t answered each of your questions, and you’re browsing for additional info relating to Xpeng Stock On Wealthsimple, check out the Wealthsimple website to get answers to all your questions.