What Exactly is Wealthsimple?
Wealthsimple is an easy to use Canadian web based Financial, stock and crypto trading web app that differentiates itself from similar apps by charging absolutely no fees.
A fintech company launched in Autumn twenty fourteen originally as a robo advisor algorithmic automated trading app called Wealthsimple Invest, it has evolved substantially over the last 8 years to also include Wealthsimple Trade, a no fees discount brokerage app.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade lets Canadian investors to trade stand alone stocks and ETFs without having to pay fees. The exception is when trading securities that are denominated in USD currency. In that case, they charge a small currency conversion fee when buying and selling. However, behind us are the times of having to pay Upwards of $7 per each trade with digital discount brokerages as was normal just a couple years past.
How Much in Funds Will I Need to Have to Get Started With Wealthsimple Trade?
Wealthsimple is awesome in that they will allow investors to make a minimum deposit of just $1. The majority of traditional banks and discount brokerages have quite large minimum deposit amounts of 1k-$5000. This makes it impossible for the typical investor to get started. With Wealthsimple Trade, one doesn’t need to already be wealthy to begin trading stocks and ETFs.
But Does Wealthsimple Trade Offer TFSA Accounts?
Of course. Wealthsimple Trade offers CRA registered and non-registered accounts. One may select both RRSP and TFSA accounts during the setup wizard.
But Does Wealthsimple Trade Offer a Mobile Application?
Yes, Wealthsimple Trade has a well designed mobile app that is offered to download on both iOS and Google Play. The smartphone app makes the enrollment phase and also the trading of stocks and ETFs very easy.
Is Wealthsimple Trade Legit?
For sure. Wealthsimple Trade is secure. Wealthsimple has more than 15 billion Canadian of Assets Under Management . They have been expanding for more than 7 years and now employs more than 600 Canadians. The primary shareholder is the large publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade is the very first no-fees online brokerage to operate in Canada.
So How Can I Deposit to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it easy to add money to your new account. Just connect a chequing or savings account with your Trade account, then fund your account in simply a few steps. Deposits from financial institutions to Wealthsimple typically take only a few days. Funds can just as easily be moved back to your chequing or savings account through the same method.
Which Other Benefits and Products Are Offered by Wealthsimple?
Wealthsimple Cash – This is alternative to E-Transfers which allow one to quickly and easily send money to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for this tax year and file your taxes online for free. It’s described as simple, accurate and always free tax return filing.
Wealthsimple Spend – A combination pre paid debit card and savings product which lets you 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 learning platform which includes a variety of courses on topics like saving, investments, crypto, mortgages and more.
Each of the above features, including Wealthsimple Trade can be found within the mobile app or at their website with one login.
But How do I Start Using Wealthsimple Trade?
Click here to register for a new Wealthsimple Trade account. As an exclusive signup bonus offer to our audience you will receive the equivalent cash value of a random share valued at $25 up to $4,500 Canadian as soon as you make an initial deposit to your account.
So What if I Still Have Additional Questions About Xrp Wealthsimple?
If this review hasn’t answered each of your questions, and you’re still browsing for more specific info relating to Xrp Wealthsimple, go to the Wealthsimple website to get answers to each your questions.