Wealthsimple Review 2022: Xrp Stock Wealthsimple

What Exactly is Wealthsimple?

Wealthsimple is a simple to use Canadian digital investing, stocks plus crypto trading platform that differentiates itself from other apps by charging no fees. 

A leading Canadian online financial services company launched in Autumn of 2014 originally as a robo advisor automated trading app called Wealthsimple Invest, it has evolved significantly over the last 8 years to include Wealthsimple Trade, a no fees discount brokerage platform.

Does Wealthsimple Trade Charge Any Fees?

Wealthsimple Trade allows Canadian consumers trade single stocks and ETFs without having to pay any fees. The exception to this is when you’re trading ETFs and stocks that are denominated in USD. In which case, they will charge a currency conversion fee both when buying and selling. However, behind us are the times of having to pay $7-12 per trade with digital discount brokerages as was common just a few years ago.

How Much Cash Will I Need in Order to Begin 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 sizeable initial deposit amounts of $1000-$5000. This makes it difficult for the common investor to get started. With Wealthsimple Trade, one doesn’t need to be wealthy to start trading stocks and ETFs.

But Does Wealthsimple Trade Offer RRSP Accounts?

It does. Wealthsimple Trade offers both CRA registered and non-CRA-registered accounts. You can choose between both RRSP and TFSA accounts in the setup phase. 

Does Wealthsimple Trade Have a Mobile Application?

Yes, Wealthsimple Trade offers a modern mobile app that is offered to download on Apple and Android. The mobile app makes the signup phase and also the trading of stocks and ETFs very a breeze.

But Is Wealthsimple Trade Safe?

Yes. Wealthsimple Trade is legit. Wealthsimple has more than 15 billion Canadian in Assets Under Management (AUM). This company has been operating for more than 7 years and also at this time employs more than 600 folks. The primary shareholder is the large publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade is the very first no-fee online discount brokerage to operate in Canada.

So How Does One Fund a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it incredibly easy to add funds to your account. Just connect a chequing or savings account with your Trade account, then fund your account in just a few clicks. Deposits from financial institutions to Wealthsimple typically take a few days. Funds can the same way can be moved back to a chequing or savings accounts with the exact same method.

Which Other Benefits and Products Are Available?

Wealthsimple Cash – This is alternative to Interac E-Transfers that allow one to quickly and efficiently send money to friends and family in Canada.

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

Wealthsimple Spend – A hybrid prepaid visa and savings account that lets one to earn 1% cashback on all your everyday spending, and also get a competitive 1.5% interest on savings.

Personal Finance 101 – This is Wealthsimple’s free personal finance education platform that includes a variety of courses on different topics such as saving, investing, crypto, home buying and more. 

Each of the mentioned features, along with Wealthsimple Trade may be accessed in the app and from the site with a single login.

So How Should I Get Started Using Wealthsimple Trade?

Click here to signup for a new Wealthsimple Trade account. As a special signup bonus for our audience you’ll receive the equivalent cash value of a stock valued at up to $4,500 CAD when you make an initial deposit to your account.

What if I Still Have Additional Questions Related to Xrp Stock Wealthsimple?

If this blog post hasn’t given you the answers to all of your questions, and you’re still looking for more info about Xrp Stock Wealthsimple, check out the Wealthsimple website to get answers to all your questions.