Review Wealthsimple Invest: Complete Guide

What is Wealthsimple?

Wealthsimple is an easy to use Canadian online Financial, securities plus crypto trading web app that differentiates itself from other apps by charging no fees. 

A Toronto, Ontario based online financial services company founded in Autumn of 2014 originally as a robo-advisor automated trading platform named Wealthsimple Invest, it has evolved substantially over the last 8 years to also include Wealthsimple Trade, a no fee discount brokerage platform.

Does Wealthsimple Trade Charge Fees?

Wealthsimple Trade allows investors to trade single stocks and ETFs without having to pay fees. The exception is when trading stocks and ETFs which are listed in USD currency. In this case, they do charge a nominal currency conversion fee both when buying and selling. However, past us are the times of paying $7-12 for each trade with discount brokerages as was expected a couple years past.

How Much Money Will I Need to Get Started on Wealthsimple Trade?

Wealthsimple is cool in that they will allow investors to make a minimum deposit of just $1. Many traditional banks and brokerages have large initial deposit amounts of 1k-5k. This makes it impossible for the every day new investor to get started. With Wealthsimple Trade, one doesn’t need to already be wealthy to start trading stocks and ETFs.

So Does Wealthsimple Trade Offer RRSP Accounts?

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

So Does Wealthsimple Trade Have a Mobile App?

Yes, Wealthsimple Trade offers a easy to use mobile app that is offered on iOS and also Google Play. The smartphone app makes the signup process and also trading of stocks and ETFs a breeze.

So Is Wealthsimple Trade Trustworthy?

Yes. Wealthsimple Trade is safe. Wealthsimple has over 15 billion CAD of Assets Under Management . They have been doing business for more than 7 years and right now employs roughly 600 people. The primary owner is the admired public Canadian corporation Power Corp of Canada. Weapthsimple Trade is the first no-fee digital brokerage operating in Canada.

But How Do I Fund a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it quite straight forward to deposit to your new account. Simply connect the app to a chequing or savings account to your Trade account, and then add funds to your account in only a couple of steps. Deposits from your bank to Wealthsimple normally take only a few days. Funds can also be moved back to a chequing or savings accounts through the same method.

What Additional Features and Products Are Available?

Wealthsimple Cash – This is equivalent to e-transfers which allows you to quickly and simply send money to friends and family in Canada.

Wealthsimple Tax – Everything you’ll require to get ready for tax season and file your tax return online for free. It’s pitched as easy, accurate and always totally free tax return filing.

Wealthsimple Spend – A combination pre paid visa and savings account which lets you to get 1% cashback on your everyday purchases, 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 offers a ton of different online courses on saving, investing, crypto, home buying and much more. 

Each of the above features, along with Wealthsimple Trade can be found within the mobile app and on their site with one login.

How Can I Start Using Wealthsimple Trade?

Click here to create a Wealthsimple Trade account. As an exclusive signup bonus to our audience you’ll get the cash value of a Canadian stock valued at $25 up to $4,500 Canadian when you deposit to your account.

So What if I Still Have Questions Related to Does Wealthsimple Lend Shares?

If this blog post still hasn’t given you the answers to all of your questions, and you’re searching for more facts about Review Wealthsimple Invest, visit the Wealthsimple website to find answers to all your questions.