What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian online Financial, securities plus crypto trading platform that sets itself apart from its competitors by charging no fees.
A online financial services business launched in Autumn 2014 exclusively as a robo-advisor automated trading platform named Wealthsimple Invest, it has evolved considerably over the last eight years to feature Wealthsimple Trade, a no fees discount brokerage service.
Does Wealthsimple Trade Charge Fees?
Wealthsimple Trade allows investors to trade stand alone stocks and also ETFs without paying any fees. The exception is when trading stocks which are displayed in US Dollars. In that case, they charge a small currency conversion fee both when buying and selling. However, past us are the days of paying Upwards of $7 for each trade with discount brokerages as was expected a few years past.
How Much in Funds do I Need to Have in Order to Start With Wealthsimple Trade?
Wealthsimple is awesome such that they will allow investors to make a minimum deposit of just $1. Many alternative banks and brokerages have quite large minimum deposit amounts of $1,000-5k. This makes it hard for the common new investor to start investing. With Wealthsimple Trade, one doesn’t have to be wealthy to get started with trading stocks and ETFs.
But Does Wealthsimple Trade Offer RRSP Accounts?
They do. Wealthsimple Trade has available registered and non-CRA-registered accounts. You are able to choose both RRSP and TFSA account types during the setup phase.
So Does Wealthsimple Trade Have a Mobile Application?
Yes, Wealthsimple Trade offers a well designed mobile app offered on Apple and Android. The app makes the registration steps and the trading of stocks and ETFs very easy.
Is Wealthsimple Trade Legit?
. Wealthsimple Trade is safe. Wealthsimple boasts over 15 billion CAD of Assets Under Management . they’ve been operating for more than 7 years and also currently employs about 600 Canadians. The controlling owner is the public Canadian company Power Corp of Canada. Weapthsimple Trade was the very first no-fee online brokerage to operate in Canada.
So How Does One Add Money to a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it simple to add funds to an account. Simply connect the app to a chequing or savings account with your Trade account, then fund your account in simply a few clicks. Deposits from banks to Wealthsimple normally take just a couple of days. Funds can just as easily be moved to your chequing or savings accounts with the same steps.
Which Other Features and Products Are Available?
Wealthsimple Cash – An equivalent to e-Transfers which allow one to quickly and simply transfer 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 described to be simple, accurate and always free tax filing.
Wealthsimple Spend – A combination pre paid debit card and savings account that lets one to recieve 1% cashback on all your purchases, and also earn a competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform which offers a ton of different online courses on different topics such as saving, investments, crypto, mortgages and much more.
Every one of the listed products, including Wealthsimple Trade may be accessed inside the app or from the website with one login.
So How Should I Begin Using Wealthsimple Trade?
Click here to create a Wealthsimple Trade account. For a special registration bonus offer to our audience you will receive the cash value of a stock worth up to $4,500 CAD as soon as you fund your account.
But What if I Still Have Questions Concerning Xpev Wealthsimple?
If this blog post didn’t given you the answers to all of your questions, and you’re looking for additional info about Xpev Wealthsimple, go to the Wealthsimple website to find answers to all your questions.