Wealthsimple Cash Review: Complete Guide

What Exactly is Wealthsimple?

Wealthsimple is a simple to use Canadian web based investing, securities plus crypto trading app that distinguishes itself from the competition by charging absolutely no fees. 

A leading Canadian online financial services company founded in the Fall twenty fourteen exclusively as a robo-advisor automated trading platform called Wealthsimple Invest, it has grown substantially over the previous 8 years to also feature Wealthsimple Trade, a no fee discount brokerage app.

Does Wealthsimple Trade Charge Any Kind of Fees?

Wealthsimple Trade allows consumers trade both stand alone stocks and also ETFs without paying commissions. The exception to this is when you’re trading securities which are displayed in USD. In which case, they do charge a small currency conversion fee when buying and selling. However, past us are the times of having to pay Upwards of $7 per trade with digital discount brokerages as was common a few years past.

Exactly How Much Money do I Need to Start Investing With Wealthsimple Trade?

Wealthsimple is awesome in that they allow new customers to make a minimum deposit of only $1. The majority of alternative banks and discount brokerages have sizeable min deposit amounts of $1,000-5k. This makes it hard for the everyday investor to start investing. With Wealthsimple Trade, one doesn’t have to already be wealthy to get started with trading stocks and ETFs.

Does Wealthsimple Trade Offer TFSA Accounts?

Yes. Wealthsimple Trade has registered and non-registered account types. You are able to select between both RRSP and TFSA account types during the setup wizard. 

But Does Wealthsimple Trade Have a Mobile Application?

Yes, Wealthsimple Trade offers a easy to use mobile app offered on both IOS and also Google Play. The mobile app makes the registration steps and the trading of stocks and ETFs incredibly simple.

So Is Wealthsimple Trade Safe?

Yes. Wealthsimple Trade is legit. Wealthsimple has more than 15 billion Canadian of Assets Under Management . they’ve been expanding for more than 7 years and right now employs roughly 600 folks. The primary owner is the respected public Canadian company Power Corp of Canada. Weapthsimple Trade was the very first no-fees digital brokerage operating in Canada.

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

The Wealthsimple Trade smartphone app makes it very straight forward to add funds to your new account. Simply connect a chequing or savings account with your Trade account, then fund your account in only a few clicks. Deposits from banks to Wealthsimple typically take only a few days. Funds can just as easily be moved back to a chequing or savings accounts with the same method.

Which Other Features and Products Does Wealthsimple Offer?

Wealthsimple Cash – This is alternative to E-transfers that allows one to quickly and efficiently send cash to friends and family in Canada.

Wealthsimple Tax – Everything you’ll need to get ready for tax season and submit your taxes online for free. It’s advertised as simple, accurate and always free tax filing.

Wealthsimple Spend – A hybrid pre paid visa and savings product that allows you to get 1% cashback on all your spending, and also get a competitive 1.5% interest on savings.

Personal Finance 101 – Wealthsimple’s free personal finance education platform that offers a variety of online courses on saving, investing, crypto, real estate and more. 

All of the above products, including Wealthsimple Trade may be found within the mobile app or on their website with a single login.

But How do I Get Started With Wealthsimple Trade?

Click here to register for a new Wealthsimple Trade account. As a special signup bonus to our readers you’ll receive the cash value of a random Canadian stock valued at up to $4,500 CAD as soon as you make an initial deposit to your account.

But What if I Still Have Additional Questions About Average Wealthsimple Returns?

If this article still hasn’t answered each of your questions, and you’re still looking for additional information relating to Wealthsimple Cash Review, visit the Wealthsimple website for answers to all your questions.