Wealthsimple Conservative Portfolio Review: Complete Guide

What Exactly is Wealthsimple?

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

A Toronto, Ontario based online financial services business founded in the Autumn 2014 originally as a robo advisor algorithmic automated trading app called Wealthsimple Invest, it has changed significantly over the previous eight years to include Wealthsimple Trade, a no fee discount brokerage service.

Does Wealthsimple Trade Charge Any Kind of Fees?

Wealthsimple Trade lets investors to trade both individual stocks and also ETFs without needing to pay fees. The exception is when trading securities which are displayed in US Dollars. In that case, they charge a nominal currency conversion fee when buying and selling. However, past us are the days of paying more than $7 per each trade with online discount brokerages as was normal only a couple years past.

How Much Cash do I Need to Get Started on Wealthsimple Trade?

Wealthsimple is cool in that they will allow Canadians to make a minimum deposit of only $1. Many alternative banks and discount brokerages have sizeable min deposit amounts of 1K-5k. This makes it difficult for the every day investor to start investing. With Wealthsimple Trade, you won’t need to already be wealthy to begin trading stocks and ETFs.

Does Wealthsimple Trade Have Registered Accounts?

Of course. Wealthsimple Trade has both CRA registered and non-registered accounts. One may select both RRSP and TFSA accounts during the setup process. 

So Does Wealthsimple Trade Offer a Mobile Application?

Yes, Wealthsimple Trade offers a well designed mobile app offered on both Apple and Android. The smartphone app makes the enrollment steps and trading of stocks and ETFs painless.

Is Wealthsimple Trade Trustworthy?

Of course. Wealthsimple Trade is safe. Wealthsimple boasts over 15 billion Canadian of Assets Under Management (AUM). they’ve been operating for more than 7 years and at this time employs more than 600 people. The majority owner is the admired public Canadian corporation Power Corp of Canada. Weapthsimple Trade was the very first no-fees digital brokerage operating in Canada.

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

The Wealthsimple Trade smartphone app makes it incredibly simple to add funds to a new account. Simply connect a chequing or savings account with your Trade account, then add money to your account in just a few clicks. Deposits from financial institutions to Wealthsimple typically take only a few days. Funds can the same way can be moved back to a chequing or savings account with the exact same method.

What Other Features and Products Are Available?

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

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

Wealthsimple Spend – A hybrid prepaid visa and savings account that allows one to earn 1% cashback on your everyday purchases, as well as get a competitive 1.5% interest on savings.

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

Every one of the mentioned features, including Wealthsimple Trade may be found inside the app or from the site with a single login.

So How do I Begin With Wealthsimple Trade?

Click here to signup for a Wealthsimple Trade account. As an exclusive signup bonus for our readers you will get the cash value of a Canadian stock worth $25 up to $4,500 CAD when you deposit to your account.

So What if I Still Have Questions Related to Wealthsimple Etf Fees?

If this article didn’t answered all of your questions, and you’re looking for further facts about Wealthsimple Conservative Portfolio Review, visit the Wealthsimple website to get answers to all your questions.