Is Wealthsimple Review: Complete Guide

What Exactly is Wealthsimple?

Wealthsimple is a convenient and easy to use Canadian online Financial, securities and crypto trading web app that sets itself apart from other apps by charging absolutely no fees. 

A fintech company founded in Fall of twenty fourteen exclusively as a robo-advisor automated trading app named Wealthsimple Invest, it has changed substantially over the last eight years to also feature Wealthsimple Trade, a zero fee discount brokerage app.

Does Wealthsimple Trade Charge Any Kind of Fees?

Wealthsimple Trade lets Canadian consumers trade both single stocks and ETFs without needing to pay commissions. The exception to this is when you’re trading ETFs and stocks that are denominated in USD. In this case, they will charge a nominal currency conversion fee both when buying and selling. But, past us are the days of having to pay more than $7 per trade with digital discount brokerages as was the case just a few years past.

Exactly How Much in Funds do I Need to Start Investing on Wealthsimple Trade?

Wealthsimple is cool in that they will allow new customers to make a minimum deposit of only $1. Most traditional banks and brokerages have large min deposit amounts of $1000-5K. This makes it difficult for the every day investor to start. With Wealthsimple Trade, one doesn’t need to be wealthy to begin trading stocks and ETFs.

But Does Wealthsimple Trade Offer Registered Accounts?

It does. Wealthsimple Trade has available both registered and non-registered account types. You can select both RRSP and TFSA account types during the setup process. 

So Does Wealthsimple Trade Offer a Mobile Application?

Yes, Wealthsimple Trade has a convenient mobile app that is available to download on iOS and also Android. The mobile app makes the signup steps and trading of stocks and ETFs truly a breeze.

So Is Wealthsimple Trade Trustworthy?

Most definitely. Wealthsimple Trade is legit. Wealthsimple reports over 15 billion CAD of Assets Under Management (AUM). They have been doing business for more than 7 years and also now employs about 600 people. The main shareholder is the large public Canadian company Power Corp of Canada. Weapthsimple Trade was the first no-fee digital brokerage to operate in Canada.

But How Can I Deposit to a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it so straight forward to fund a new account. Simply connect the app to a chequing or savings account with your Trade account, then fund your account in just a couple of clicks. Deposits from your bank to Wealthsimple usually take only a few days. Funds can just as easily be moved back to your chequing or savings accounts through the same method.

Which Other Features and Products Does Wealthsimple Offer?

Wealthsimple Cash – An equivalent to E-Transfers that allow you to quickly and simply send money to friends and family in Canada.

Wealthsimple Tax – Everything you need to get ready for this tax year and file your taxes online for free. It’s advertised to be simple, accurate and always totally free tax return filing.

Wealthsimple Spend – A combination pre paid debit card and savings account that lets one to recieve 1% cashback on your spending, as well as earn a very competitive 1.5% interest on savings.

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

All of the listed features, along with Wealthsimple Trade may be found within the mobile app and on their site with your Wealthsimple login.

How Should I Start With Wealthsimple Trade?

Click here to setup a Wealthsimple Trade account. As an exclusive signup bonus offer to our audience you will get the cash value of a random share worth $25 up to $4,500 CAD once you deposit to your account.

What if I Still Have Additional Questions Related to Wealthsimple Dividends?

If this review hasn’t given you the answers to all of your questions, and you’re searching for further info about Is Wealthsimple Review, check out the Wealthsimple site to find answers to all your questions.