Wealthsimple Balanced Portfolio Review: Complete Guide

What is Wealthsimple?

Wealthsimple is a simple to use Canadian web based Financial, stocks and crypto trading app that differentiates itself from the competition by charging absolutely no fees. 

A online financial services company launched in the Autumn of 2014 originally as a robo advisor trading app called Wealthsimple Invest, it has improved significantly over the last eight years to feature Wealthsimple Trade, a no fees discount brokerage app.

Does Wealthsimple Trade Charge Fees?

Wealthsimple Trade allows Canadian consumers trade single stocks and also ETFs without paying any commissions. The exception is when you’re trading ETFs and stocks that are listed in USD currency. In that case, they will charge a currency conversion fee when buying and selling. But, gone are the days of having to pay Upwards of $7 for each trade with online discount brokerages as was normal only a couple years ago.

Exactly How Much Cash Will I Need in Order to Get Started on Wealthsimple Trade?

Wealthsimple is awesome such that they will allow Canadians to make a minimum deposit of only $1. Most alternative banks and discount brokerages have large min deposit amounts of 1K-$5000. This makes it hard for the everyday new investor to start. With Wealthsimple Trade, you won’t need to already be wealthy to start trading stocks and ETFs.

Does Wealthsimple Trade Have TFSA Accounts?

Of course. Wealthsimple Trade offers both CRA registered and non-CRA-registered accounts. One may select both RRSP and TFSA account types in the setup wizard. 

But Does Wealthsimple Trade Offer a Mobile Application?

Yes, Wealthsimple Trade has a easy to use mobile app available to download on IOS and Google Play. The mobile app makes the registration process and also the trading of stocks and ETFs truly painless.

Is Wealthsimple Trade Legit?

Definitely. Wealthsimple Trade is safe. Wealthsimple reports in excess of 15 billion Canadian of Assets Under Management . They have been operating for more than 7 years and at this time employs more than 600 people. The primary shareholder is the respected public Canadian company Power Corp of Canada. Weapthsimple Trade is the first no-fee digital brokerage to operate in Canada.

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

The Wealthsimple Trade mobile app makes it so easy to deposit to an account. Simply connect a chequing or savings account to your Trade account, and then fund your account in only a few clicks. Deposits from your bank to Wealthsimple typically take only a few days. Funds can also be moved back to your chequing or savings accounts with the exact same process.

What Additional Features and Products Does Wealthsimple Offer?

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

Wealthsimple Tax – Everything you require to prepare for this tax season and submit your tax return online for free. It’s described to be easy, accurate and always totally free income tax filing.

Wealthsimple Spend – A hybrid pre paid visa and savings product which lets one to get 1% cashback on your spending, and also get a competitive 1.5% interest rate on savings.

Personal Finance 101 – This is Wealthsimple’s free personal finance platform that includes a ton of courses on different topics such as saving, investing, crypto, real estate and more. 

Each of the listed products, along with Wealthsimple Trade can be accessed on the app or from the website with one login.

How Can I Begin With Wealthsimple Trade?

Click here to register for a new Wealthsimple Trade account. As an exclusive registration bonus to our readers you’ll get the equivalent cash value of a share worth $25 up to $4,500 Canadian as soon as you make an initial deposit to your account.

What if I Still Have Additional Questions About Add Funds To Wealthsimple?

If this article hasn’t answered all of your questions, and you’re still browsing for additional facts about Wealthsimple Balanced Portfolio Review, go to the Wealthsimple site to find answers to each your questions.