Wealthsimple Cash Card Review: Complete Guide

What Exactly is Wealthsimple?

Wealthsimple is a convenient and easy to use Canadian web based Financial, stocks plus crypto trading web app that distinguishes itself from its competitors by charging no fees. 

A Toronto, Ontario based fintech company founded in the Fall twenty fourteen exclusively as a robo-advisor trading app named Wealthsimple Invest, it has improved significantly over the past 8 years to also include Wealthsimple Trade, a zero fees discount brokerage platform.

Does Wealthsimple Trade Charge Any Kind of Fees?

Wealthsimple Trade lets Canadian investors to trade both individual stocks and also ETFs without having to pay any commissions. The exception is when you’re trading stocks that are denominated in USD. In that case, they charge a currency conversion fee both when buying and selling. But, gone are the days of paying more than $7 per trade with digital discount brokerages as was expected a few years ago.

Exactly How Much Cash Will I Need to Have to Start Investing With Wealthsimple Trade?

Wealthsimple is awesome in that they will allow Canadians to make a minimum deposit of only $1. The majority of alternative banks and brokerages have sizeable min deposit amounts of 1K-$5,000. This makes it difficult 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 Offer Registered Accounts?

They do. Wealthsimple Trade offers registered and non-CRA-registered account types. One are free to choose both RRSP and TFSA accounts in the setup phase. 

But Does Wealthsimple Trade Offer a Mobile App?

Yes, Wealthsimple Trade offers a easy to use mobile app that is available to download on Apple and Android. The smartphone app makes the enrollment steps and also trading of stocks and ETFs super easy.

Is Wealthsimple Trade Safe?

Of course. Wealthsimple Trade is secure. Wealthsimple reports over 15 billion CAD of Assets Under Management . They have been doing business for more than 7 years and also at this time employs about 600 people. The main shareholder is the admired publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade is the first no-fees online brokerage operating in Canada.

How Can I Add Funds to a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it easy to fund your new account. Just connect the app to a chequing or savings account with your Trade account, then add funds to your account in simply a couple of steps. Deposits from banks to Wealthsimple normally take just a few days. Funds can the same way can be moved back to your chequing or savings account using the same process.

What Other Benefits and Products Are Available?

Wealthsimple Cash – An alternative to Interac E-transfers that allows anyone to quickly and simply transfer cash to friends and family in Canada.

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

Wealthsimple Spend – A combination prepaid debit card and savings account that lets you to earn 1% cashback on your purchases, as well as get a competitive 1.5% interest on savings.

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

All of the mentioned features, including Wealthsimple Trade can be accessed within the app or from the site with your Wealthsimple login.

But How Can I Start With Wealthsimple Trade?

Click here to signup for a Wealthsimple Trade account. For an exclusive registration bonus for our audience you’ll receive the equivalent cash value of a random stock worth up to $4,500 Canadian once you add funds to your account.

So What if I Still Have Questions About Wealthsimple Brand Guidelines?

If this blog post hasn’t given you the answers to each of your questions, and you’re still looking for more specific information relating to Wealthsimple Cash Card Review, check out the Wealthsimple site to get answers to every one of your questions.