Wealthsimple Autopilot Review: Complete Guide

What is Wealthsimple?

Wealthsimple is an easy to use Canadian web based investing, securities and crypto trading app that differentiates itself from its competitors by charging absolutely no fees. 

A Toronto, Ontario based fintech business founded in Autumn of twenty fourteen originally as a robo advisor algorithmic trading platform called Wealthsimple Invest, it has improved significantly over the previous eight years to also include Wealthsimple Trade, a zero fee discount brokerage app.

Does Wealthsimple Trade Charge Its Users Fees?

Wealthsimple Trade lets Canadian investors to trade both individual stocks and ETFs without having to pay any commissions. The exception is when trading stocks and ETFs which are denominated in USD. In which case, they do charge a nominal currency conversion fee both when buying and selling. However, past us are the days of having to pay $7-12 for each trade with online discount brokerages as was the case a few years ago.

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

Wealthsimple is unique in that they allow new customers to make a minimum deposit of only $1. The majority of alternative banks and brokerages have quite large initial deposit amounts of $1,000-$5,000. This makes it impossible for the everyday investor to start. With Wealthsimple Trade, you won’t have to already be wealthy to start trading stocks and ETFs.

So Does Wealthsimple Trade Offer TFSA Accounts?

Of course. Wealthsimple Trade offers both registered and non-CRA-registered account types. One may choose between both RRSP and TFSA account types during the setup phase. 

But Does Wealthsimple Trade Have a Mobile App?

Yes, Wealthsimple Trade has a modern mobile app available to download on both iOS and also Google Play. The app makes the enrollment phase and trading of stocks and ETFs very a breeze.

But Is Wealthsimple Trade Legit?

Yes. Wealthsimple Trade is safe. Wealthsimple boasts over 15 billion Canadian in Assets Under Management . This company has been doing business for more than 7 years and also employs roughly 600 folks. The majority shareholder is the admired public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the very first no-fee digital discount brokerage to operate in Canada.

But How Do I Add Funds to a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it quite easy to add money to a new account. Just connect the app to a chequing or savings account to your Trade account, and then fund your account in simply a few steps. Deposits from financial institutions to Wealthsimple typically take only a couple of days. Funds can the same way can be moved back to a chequing or savings account by using the same steps.

Which Additional Features and Products Are Offered by Wealthsimple?

Wealthsimple Cash – This is equivalent to Interac E-Transfers which allow anyone to quickly and efficiently transfer cash to friends and family in Canada.

Wealthsimple Tax – Everything you require to prepare for tax year and submit your tax return online for free. It’s advertised as easy, accurate and always totally free tax filing.

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

Personal Finance 101 – Wealthsimple’s free personal finance platform that offers a variety of different courses on topics like saving, investments, crypto, real estate and much more. 

All of the listed features, along with Wealthsimple Trade can be accessed on the app or at their site with a single login.

So How Should I Start Using Wealthsimple Trade?

Click here to signup for a new Wealthsimple Trade account. For a special registration bonus for our audience you’ll get the cash value of a random stock valued at up to $4,500 CAD once you fund your account.

So What if I Still Have Additional Questions About Wealthsimple App?

If this article didn’t answered each of your questions, and you’re browsing for more specific information about Wealthsimple Autopilot Review, check out the Wealthsimple site to find answers to every one of your questions.