What is Wealthsimple?
Wealthsimple is a convenient and easy to use Canadian web based Financial, stocks plus crypto trading platform that sets itself apart from its competitors by charging no fees.
A online financial services company launched in the Autumn twenty fourteen exclusively as a robo-advisor automated trading platform named Wealthsimple Invest, it has changed substantially over the past eight years to include Wealthsimple Trade, a zero fee discount brokerage platform.
Does Wealthsimple Trade Charge Its Users Fees?
Wealthsimple Trade allows consumers to trade both stand alone stocks and also ETFs without paying any fees. The exception is when trading stocks and ETFs which are listed in USD. In that case, they charge a nominal currency conversion fee when buying and selling. However, gone are the days of having to pay more than $7 for each trade with digital discount brokerages as was the case only a few years past.
How Much Money do I Need to Have to Start Investing on Wealthsimple Trade?
Wealthsimple is special in that they allow investors to make a minimum deposit of only $1. Most traditional banks and brokerages have large minimum deposit amounts of $1,000-$5,000. This makes it tough for the normal 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 Have RRSP Accounts?
Yes. Wealthsimple Trade offers both registered and non-registered account types. One are free to select between both RRSP and TFSA account types during the setup wizard.
But Does Wealthsimple Trade Offer a Mobile App?
Yes, Wealthsimple Trade offers a modern mobile app that is available to download on both IOS and also Android. The app makes the registration phase and the trading of stocks and ETFs simple.
Is Wealthsimple Trade Safe?
Of course. Wealthsimple Trade is legit. Wealthsimple reports in excess of 15 billion CAD in Assets Under Management (AUM). They have been doing business for more than 7 years and at this time employs more than 600 Canadians. The majority shareholder is the respected public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the first no-fee online discount brokerage operating in Canada.
So How Can I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade smartphone app makes it incredibly straight forward to fund your account. Just connect to a chequing or savings account to your Trade account, then add funds to your account in just a couple of steps. Deposits from financial institutions to Wealthsimple usually take only a few days. Funds can also be moved back to your chequing or savings accounts by the exact same steps.
What Other Features and Products Does Wealthsimple Offer?
Wealthsimple Cash – This is equivalent to E-transfers which allows one to quickly and easily transfer cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll require to get ready for this tax year and file your tax return online for free. It’s advertised as simple, accurate and always free income tax filing.
Wealthsimple Spend – A combination pre paid visa and savings product which allows you to get 1% cashback on all your spending, and also get a very competitive 1.5% interest on savings.
Personal Finance 101 – Wealthsimple’s free personal finance education platform which offers a bunch of courses on different topics such as saving, investments, crypto, real estate and more.
Each of the above products, including Wealthsimple Trade may be accessed inside the app and from their site with one login.
So How Can I Begin With Wealthsimple Trade?
Click here to register for a Wealthsimple Trade account. As a special signup bonus offer for our readers you’ll get the cash value of a share worth up to $4,500 CAD when you deposit to your account.
So What if I Still Have Questions Concerning Xrp Stock Wealthsimple?
If this blog post didn’t answered each of your questions, and you’re still searching for further facts about Wealthsimple Trade Number, go to the Wealthsimple site to get answers to each your questions.