Is Wealthsimple.legit: Complete Guide

What is Wealthsimple?

Wealthsimple is a convenient and easy to use Canadian online investing, stocks and crypto trading web app that sets itself apart from the competition by charging no fees. 

A online financial services company launched in the Fall 2014 exclusively as a robo advisor automated trading platform called Wealthsimple Invest, it has evolved significantly over the past 8 years to also feature Wealthsimple Trade, a zero fee discount brokerage platform.

Does Wealthsimple Trade Charge Its Users Fees?

Wealthsimple Trade allows investors to trade single stocks and ETFs without having to pay fees. The exception is when you’re trading stocks and ETFs that are displayed in USD currency. In this case, they will charge a currency conversion fee both when buying and selling. But, past us are the days of having to pay more than $7 for each trade with discount brokerages as was common a few years past.

Exactly How Much Money Will I Need to Have to Start Investing With Wealthsimple Trade?

Wealthsimple is special in that they will allow Canadian investors to make a minimum deposit of just $1. The majority of traditional banks and brokerages have sizeable min deposit amounts of 1K-$5000. This makes it tough for the normal investor to start investing. With Wealthsimple Trade, you won’t have to be wealthy to start trading stocks and ETFs.

But Does Wealthsimple Trade Offer TFSA Accounts?

It does. Wealthsimple Trade has CRA registered and non-CRA-registered accounts. You are free to select between both RRSP and TFSA accounts during the setup wizard. 

But Does Wealthsimple Trade Offer a Mobile Application?

Yes, Wealthsimple Trade offers a well designed mobile app that is available on IOS and Android. The mobile app makes the registration phase and also the trading of stocks and ETFs truly painless.

Is Wealthsimple Trade Secure?

. Wealthsimple Trade is safe. Wealthsimple boasts in excess of 15 billion CAD in Assets Under Management . they’ve been in business for more than 7 years and right now employs over 600 people. The majority shareholder is the respected publicly traded Canadian entity Power Corp of Canada. Weapthsimple Trade is the first no-fee digital discount brokerage to operate in Canada.

But How Can I Add Money to a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it straight forward to add funds to an account. Simply connect a chequing or savings account to your Trade account, and fund your account in just a few clicks. Deposits from financial institutions to Wealthsimple normally take a couple of days. Funds can also be withdrawn a chequing or savings account by the same steps.

What Other Features and Products Does Wealthsimple Offer?

Wealthsimple Cash – An alternative to e-Transfers which allow you to quickly and easily transfer money to friends and family in Canada.

Wealthsimple Tax – Everything you’ll require to get ready for tax year and submit your tax return online for free. It’s advertised to be simple, accurate and always free income tax filing.

Wealthsimple Spend – A hybrid pre paid visa and savings account which lets one to recieve 1% cashback on your purchases, as well as earn a competitive 1.5% interest on savings.

Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform which includes a variety of courses on topics like saving, investing, crypto, home buying and more. 

Each of the mentioned products, along with Wealthsimple Trade may be found in the mobile app or at their site with your Wealthsimple login.

So How Should I Start Using Wealthsimple Trade?

Click here to signup for a Wealthsimple Trade account. As a special signup bonus offer for our audience you will receive the cash value of a random stock worth $25 up to $4,500 Canadian as soon as you deposit to your account.

So What if I Still Have Additional Questions Related to Autopilot Wealthsimple?

If this blog post didn’t given you the answers to all of your questions, and you’re still browsing for more information relating to Is Wealthsimple.legit, go to the Wealthsimple website for answers to all your questions.