Tfsa Wealthsimple Review: Complete Guide

What Exactly is Wealthsimple?

Wealthsimple is a simple to use Canadian online investing, securities and crypto trading app that differentiates itself from other apps by charging absolutely no fees. 

A Toronto, Ontario based fintech business founded in Autumn of twenty fourteen exclusively as a robo-advisor algorithmic trading app called Wealthsimple Invest, it has evolved substantially over the last eight years to include Wealthsimple Trade, a zero fees discount brokerage app.

Does Wealthsimple Trade Charge Fees?

Wealthsimple Trade lets Canadian consumers to trade both single stocks and also ETFs without having to pay any fees. The exception is when trading ETFs and stocks that are listed in US Dollars. In that case, they will charge a currency conversion fee both when buying and selling. However, past us are the times of paying more than $7 for each trade with digital discount brokerages as was expected only a couple years past.

How Much Money Will I Need in Order to Begin Investing on Wealthsimple Trade?

Wealthsimple is awesome in that they allow investors to make a minimum deposit of only $1. Most alternative banks and brokerages have sizeable initial deposit amounts of 1k-5K. This makes it tough for the typical new investor to start investing. With Wealthsimple Trade, you don’t need to be wealthy to begin trading stocks and ETFs.

But Does Wealthsimple Trade Offer Registered Accounts?

They do. Wealthsimple Trade has available both CRA registered and non-registered accounts. One may choose between both RRSP and TFSA account types in the setup process. 

So Does Wealthsimple Trade Have a Mobile App?

Yes, Wealthsimple Trade has a modern mobile app available on both Apple and Google Play. The smartphone app makes the enrollment phase and also the trading of stocks and ETFs painless.

Is Wealthsimple Trade Secure?

. Wealthsimple Trade is safe. Wealthsimple has over 15 billion CAD of Assets Under Management . They have been operating for more than 7 years and employs over 600 people. The main owner is the respected publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade is the very first no-fees digital brokerage to operate in Canada.

But How Can I Deposit to a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it quite simple to add funds to your account. Simply connect to a chequing or savings account with your Trade account, then fund your account in simply a couple of clicks. Deposits from financial institutions to Wealthsimple typically take a couple of days. Funds can just as easily be withdrawn your chequing or savings account with the exact same method.

What Additional Benefits and Products Are Offered by Wealthsimple?

Wealthsimple Cash – This is alternative to Interac E-transfers that allow anyone to quickly and simply transfer money to friends and family in Canada.

Wealthsimple Tax – Everything you’ll require to prepare for this tax season and file your taxes online for free. It’s advertised to be simple, accurate and always free income tax filing.

Wealthsimple Spend – A combination prepaid debit card and savings account which allows one to recieve 1% cashback on all your spending, and also earn a very competitive 1.5% interest on savings.

Personal Finance 101 – Wealthsimple’s free personal finance platform which offers a variety of courses on saving, investments, crypto, home buying and much more. 

Every one of the listed features, along with Wealthsimple Trade may be accessed inside the mobile app and on their website with a single login.

But How Should I Start Using Wealthsimple Trade?

Click here to create your Wealthsimple Trade account. For an exclusive signup bonus to our readers you’ll receive the cash value of a Canadian stock worth $25 up to $4,500 CAD once you add funds to your account.

But What if I Still Have Questions Concerning How Does Wealthsimple Make Money?

If this article didn’t answered each of your questions, and you’re still looking for more information about Tfsa Wealthsimple Review, visit the Wealthsimple website to get answers to each your questions.