What Exactly is Wealthsimple?
Wealthsimple is a simple to use Canadian digital Financial, stocks plus crypto trading platform that differentiates itself from similar apps by charging absolutely no fees.
A fintech company launched in Fall of twenty fourteen originally as a robo-advisor automated trading app named Wealthsimple Invest, it has evolved substantially over the last 8 years to include Wealthsimple Trade, a zero fee discount brokerage app.
Does Wealthsimple Trade Charge Any Fees?
Wealthsimple Trade lets consumers trade both single stocks and ETFs without having to pay any fees. The exception to this is when trading securities that are displayed in US Dollars. In that case, they do charge a currency conversion fee both when buying and selling. But, gone are the times of having to pay more than $7 per trade with discount brokerages as was normal only a couple years past.
How Much Money Will I Need to Have in Order to Start on Wealthsimple Trade?
Wealthsimple is awesome in that they will allow Canadians to make a minimum deposit of only $1. Many traditional banks and brokerages have sizeable initial deposit amounts of 1k-$5,000. This makes it tough for the typical new investor to get started. With Wealthsimple Trade, you won’t need to already be wealthy to get started with trading stocks and ETFs.
So Does Wealthsimple Trade Offer Registered Accounts?
It does. Wealthsimple Trade has both CRA registered and non-CRA-registered accounts. One are able to select between both RRSP and TFSA accounts during the setup phase.
But Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade offers a convenient mobile app that is available to download on both iOS and Google Play. The mobile app makes the signup process and the trading of stocks and ETFs super simple.
But Is Wealthsimple Trade Legit?
Most definitely. Wealthsimple Trade is safe. Wealthsimple has in excess of 15 billion Canadian in Assets Under Management . they’ve been expanding for more than 7 years and also currently employs roughly 600 folks. The majority owner is the respected public Canadian entity Power Corp of Canada. Weapthsimple Trade is the first no-fee online brokerage operating in Canada.
So How Can I Fund a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it very straight forward to add funds to your new account. Simply connect the app to a chequing or savings account to your Trade account, then fund your account in only a couple of clicks. Deposits from your bank to Wealthsimple normally take only a few days. Funds can just as easily be withdrawn your chequing or savings account through the same process.
What Additional Benefits and Products Are Available?
Wealthsimple Cash – This is equivalent to Interac E-transfers that allows you 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 pitched as easy, accurate and always totally free income tax filing.
Wealthsimple Spend – A hybrid prepaid visa and savings product which lets one to earn 1% cashback on your spending, as well as get a competitive 1.5% interest rate on savings.
Personal Finance 101 – Wealthsimple’s free personal finance learning platform which offers a ton of courses on different topics such as saving, investments, crypto, mortgages and more.
Each of the listed products, along with Wealthsimple Trade may be found inside the app or on the website with one login.
But How do I Begin Using Wealthsimple Trade?
Click here to register for a Wealthsimple Trade account. As an exclusive registration bonus to our audience you will get the cash value of a random share valued at $25 up to $4,500 CAD as soon as you fund your account.
What if I Still Have Questions Related to Wealthsimple Joint Savings Account?
If this article didn’t answered each of your questions, and you’re searching for further facts relating to Wealthsimple Trade Api, visit the Wealthsimple website for answers to all your questions.