What is Wealthsimple?
Wealthsimple is a simple to use Canadian digital investing, securities plus crypto trading app that distinguishes itself from the competition by charging no fees.
A leading Canadian fintech company launched in the Fall of twenty fourteen originally as a robo-advisor algorithmic trading app named Wealthsimple Invest, it has evolved significantly over the previous eight years to also include Wealthsimple Trade, a no fees discount brokerage service.
Does Wealthsimple Trade Charge Any Type of Fees?
Wealthsimple Trade allows investors trade both stand alone stocks and also ETFs without paying fees. The exception to this is when trading securities which are displayed in USD. In which case, they charge a small currency conversion fee when buying and selling. But, past us are the days of having to pay more than $7 per trade with online discount brokerages as was the case just a couple years ago.
Exactly How Much Money do I Need to Have to Get Started With Wealthsimple Trade?
Wealthsimple is awesome such that they allow Canadian investors to make a minimum deposit of just $1. Many traditional banks and brokerages have quite large minimum deposit amounts of $1000-5K. This makes it hard for the every day investor to start investing. With Wealthsimple Trade, you don’t need to be wealthy to begin trading stocks and ETFs.
Does Wealthsimple Trade Offer Registered Accounts?
Of course. Wealthsimple Trade has registered and non-CRA-registered account types. One are free to choose between both RRSP and TFSA accounts in the setup phase.
Does Wealthsimple Trade Have a Mobile App?
Yes, Wealthsimple Trade offers a well designed mobile app that is available on both Apple and Google Play. The smartphone app makes the enrollment steps and the trading of stocks and ETFs super a breeze.
Is Wealthsimple Trade Secure?
Yes. Wealthsimple Trade is trustworthy. Wealthsimple boasts over 15 billion Canadian in Assets Under Management . they’ve been in business for more than 7 years and also currently employs roughly 600 people. The main owner is the respected public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the very first no-fee digital discount brokerage to operate in Canada.
How Can I Add Funds to a Wealthsimple Trade Account?
The Wealthsimple Trade mobile app makes it so easy to add money to a new account. Just connect a chequing or savings account to your Trade account, then add funds to your account in just a few clicks. Deposits from financial institutions to Wealthsimple normally take a couple of days. Funds can also be moved back to a chequing or savings accounts with the exact same method.
Which Other Features and Products Are Available?
Wealthsimple Cash – This is alternative to Interac e-Transfers that allows you to quickly and easily send cash to friends and family in Canada.
Wealthsimple Tax – Everything you’ll need to prepare for tax season and submit your tax return online for free. It’s described as easy, accurate and always free tax filing.
Wealthsimple Spend – A hybrid prepaid debit card and savings account that allows one to recieve 1% cashback on your spending, as well as get a very competitive 1.5% interest on savings.
Personal Finance 101 – This is Wealthsimple’s free personal finance education platform which includes a variety of different courses on different topics such as saving, investing, crypto, real estate and much more.
All of the mentioned features, along with Wealthsimple Trade may be accessed inside the mobile app and from the site with a single login.
But How Can I Get Started With Wealthsimple Trade?
Click here to signup for your Wealthsimple Trade account. For a special signup bonus for our audience you’ll get the cash value of a random share worth $25 up to $4,500 Canadian when you make an initial deposit to your account.
So What if I Still Have Questions Concerning Wealthsimple Trade For Students?
If this article hasn’t given you the answers to all of your questions, and you’re still browsing for further specific answers about Wealthsimple Trade For Students, go to the Wealthsimple site for answers to each your questions.