Wealthsimple Growth Portfolio Review: Complete Guide

What is Wealthsimple?

Wealthsimple is a convenient and easy to use Canadian digital investing, stocks plus crypto trading web app that sets itself apart from its competitors by charging no fees. 

A leading Canadian online financial services company launched in the Autumn of twenty fourteen originally as a robo advisor algorithmic trading app named Wealthsimple Invest, it has changed significantly over the last 8 years to also include Wealthsimple Trade, a zero fee discount brokerage service.

Does Wealthsimple Trade Charge Its Users Fees?

Wealthsimple Trade allows consumers trade stand alone stocks and ETFs without needing to pay any commissions. The exception to this is when you’re trading stocks which are listed in USD. In this case, they do charge a currency conversion fee when buying and selling. But, past us are the days of having to pay more than $7 for each trade with discount brokerages as was normal just a couple years ago.

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

Wealthsimple is cool in that they will allow new customers to make a minimum deposit of only $1. Most alternative banks and discount brokerages have large minimum deposit amounts of 1K-5K. This makes it impossible for the every day investor to get started. With Wealthsimple Trade, you won’t need to be wealthy to begin trading stocks and ETFs.

So Does Wealthsimple Trade Offer Registered Accounts?

Yes. Wealthsimple Trade has available both CRA registered and non-registered accounts. One may select between both RRSP and TFSA account types during the setup phase. 

So Does Wealthsimple Trade Have a Mobile App?

Yes, Wealthsimple Trade offers a well designed mobile app available on Apple and Google Play. The mobile app makes the enrollment process and also the trading of stocks and ETFs truly painless.

But Is Wealthsimple Trade Secure?

Definitely. Wealthsimple Trade is trustworthy. Wealthsimple boasts over 15 billion CAD in Assets Under Management . This company has been doing business for more than 7 years and now employs over 600 Canadians. The main shareholder is the large public Canadian company Power Corp of Canada. Weapthsimple Trade was the very first no-fees online discount brokerage to operate in Canada.

How Can I Add Money to a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it quite straight forward to deposit to your new account. Just connect to a chequing or savings account with your Trade account, and add money to your account in simply a couple of steps. Deposits from banks to Wealthsimple normally take just a couple of days. Funds can just as easily be moved back to your chequing or savings accounts by the exact same steps.

What Other Features and Products Are Available?

Wealthsimple Cash – This is alternative to e-transfers which allows one to quickly and easily transfer money to friends and family in Canada.

Wealthsimple Tax – Everything you need to get ready for tax year and file your tax return online free. It’s described to be easy, accurate and always totally free tax return filing.

Wealthsimple Spend – A hybrid prepaid debit card and savings account which allows you to get 1% cashback on all your spending, as well as get a competitive 1.5% interest on savings.

Personal Finance 101 – Wealthsimple’s free personal finance learning platform which includes a variety of different courses on saving, investments, crypto, mortgages and much more. 

Every one of the above products, along with Wealthsimple Trade may be accessed in the app and at the website with your Wealthsimple login.

But How Should I Begin Using Wealthsimple Trade?

Click here to setup a new Wealthsimple Trade account. As an exclusive registration bonus offer to our readers you’ll receive the cash value of a share worth $25 up to $4,500 CAD as soon as you deposit to your account.

But What if I Still Have Questions Concerning Can You Day Trade On Wealthsimple?

If this article still hasn’t given you the answers to each of your questions, and you’re looking for additional facts about Wealthsimple Growth Portfolio Review, go to the Wealthsimple website to find answers to all your questions.