Review Of Wealthsimple: Complete Guide

What Exactly is Wealthsimple?

Wealthsimple is a convenient and easy to use Canadian digital investing, stocks and crypto trading app that differentiates itself from other apps by charging no fees. 

A leading Canadian online financial services company launched in the Fall twenty fourteen originally as a robo advisor algorithmic automated trading platform called Wealthsimple Invest, it has changed substantially over the previous eight years to also include Wealthsimple Trade, a no fee discount brokerage app.

Does Wealthsimple Trade Charge Any Type of Fees?

Wealthsimple Trade allows Canadian consumers to trade both individual stocks and ETFs without having to pay fees. The exception is when trading ETFs and stocks which are displayed in USD currency. In which case, they will charge a small currency conversion fee both when buying and selling. However, gone are the times of paying $7-12 for each trade with discount brokerages as was common a few years past.

Exactly How Much in Funds Will I Need to Have in Order to Get Started With Wealthsimple Trade?

Wealthsimple is cool such that they will allow new customers to make a minimum deposit of only $1. Most traditional banks and discount brokerages have large min deposit amounts of 1k-5K. This makes it impossible for the typical new investor to get started. With Wealthsimple Trade, one doesn’t have to be wealthy to begin trading stocks and ETFs.

Does Wealthsimple Trade Offer Registered Accounts?

Yes. Wealthsimple Trade has available both registered and non-registered accounts. One are free to choose both RRSP and TFSA accounts during the setup phase. 

Does Wealthsimple Trade Have a Mobile App?

Yes, Wealthsimple Trade has a well designed mobile app offered on both iOS and also Android. The smartphone app makes the enrollment phase and also the trading of stocks and ETFs truly painless.

But Is Wealthsimple Trade Safe?

For sure. Wealthsimple Trade is legit. Wealthsimple reports more than 15 billion CAD of Assets Under Management (AUM). These folks have been doing business for more than 7 years and now employs about 600 Canadians. The majority shareholder is the admired public Canadian company Power Corp of Canada. Weapthsimple Trade is the very first no-fee online brokerage to operate in Canada.

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

The Wealthsimple Trade mobile app makes it easy to fund a new account. Just connect to a chequing or savings account with your Trade account, and then add funds to your account in only a couple of clicks. Deposits from banks to Wealthsimple usually take a few days. Funds can also be withdrawn your chequing or savings account by using the same process.

What Other Features and Products Are Offered by Wealthsimple?

Wealthsimple Cash – This is equivalent to E-transfers that allow one to quickly and efficiently transfer money to friends and family in Canada.

Wealthsimple Tax – Everything you’ll need to prepare for tax season and file your taxes online for free. It’s described as simple, accurate and always totally free tax filing.

Wealthsimple Spend – A combination pre paid visa and savings product that lets you to earn 1% cashback on your spending, as well as get a very competitive 1.5% interest on savings.

Personal Finance 101 – Wealthsimple’s free personal finance education platform that offers a bunch of courses on different topics such as saving, investing, crypto, home buying and more. 

Every one of the above features, including Wealthsimple Trade may be found within the mobile app and on their website with your Wealthsimple login.

So How Should I Get Started Using Wealthsimple Trade?

Click here to register for your Wealthsimple Trade account. For a special registration bonus to our audience you’ll get the cash value of a random stock worth $25 up to $4,500 Canadian when you make an initial deposit to your account.

What if I Still Have Questions About Does Wealthsimple Pay Dividends?

If this article still hasn’t answered all of your questions, and you’re still searching for more info about Review Of Wealthsimple, check out the Wealthsimple site to find answers to every one of your questions.