Wealthsimple Halal Investing Review: Complete Guide

What Exactly is Wealthsimple?

Wealthsimple is a convenient and easy to use Canadian digital investing, stocks and crypto trading web app that differentiates itself from other apps by charging no fees. 

A fintech business founded in Fall twenty fourteen originally as a robo advisor trading platform named Wealthsimple Invest, it has grown considerably over the last eight years to also feature Wealthsimple Trade, a no fee discount brokerage service.

Does Wealthsimple Trade Charge Any Type of Fees?

Wealthsimple Trade allows Canadian consumers to trade single stocks and also ETFs without needing to pay any commissions. The exception is when you’re trading securities that are denominated in USD currency. In that case, they do charge a nominal currency conversion fee when buying and selling. However, behind us are the times of paying more than $7 for each trade with digital discount brokerages as was the norm just a few years past.

Exactly How Much in Funds Will I Need to Have to Start With Wealthsimple Trade?

Wealthsimple is cool such that they will allow investors to make a minimum deposit of just $1. Many alternative banks and brokerages have sizeable minimum deposit amounts of 1K-$5000. This makes it difficult for the typical new investor to start investing. With Wealthsimple Trade, you don’t have to be wealthy to begin trading stocks and ETFs.

So Does Wealthsimple Trade Have Registered Accounts?

They do. Wealthsimple Trade offers both registered and non-registered accounts. One are able to select between both RRSP and TFSA accounts in the setup wizard. 

But Does Wealthsimple Trade Have a Mobile Application?

Yes, Wealthsimple Trade offers a convenient mobile app available to download on both iOS and Google Play. The app makes the enrollment process and trading of stocks and ETFs very easy.

So Is Wealthsimple Trade Secure?

. Wealthsimple Trade is trustworthy. Wealthsimple has more than 15 billion CAD in Assets Under Management . They have been operating for more than 7 years and also right now employs more than 600 folks. The controlling owner is the admired public Canadian entity Power Corp of Canada. Weapthsimple Trade is the very first no-fee digital discount brokerage operating in Canada.

How Do I Add Funds to a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it very simple to deposit to an account. Simply connect a chequing or savings account to your Trade account, then fund your account in only a few steps. Deposits from your bank to Wealthsimple typically take just a few days. Funds can the same way can be withdrawn your chequing or savings account through the exact same method.

Which Other Features and Products Are Available?

Wealthsimple Cash – This is equivalent to Interac E-transfers that allows one to quickly and efficiently transfer money to friends and family in Canada.

Wealthsimple Tax – Everything you’ll need to get ready for this tax year and file your tax return online for free. It’s pitched as simple, accurate and always totally free tax return filing.

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

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

Each of the above features, along with Wealthsimple Trade can be accessed on the mobile app and from the website with a single login.

So How Should I Get Started With Wealthsimple Trade?

Click here to create a Wealthsimple Trade account. As a special registration bonus offer for our readers you’ll get the cash value of a Canadian stock worth up to $4,500 CAD once you make an initial deposit to your account.

But What if I Still Have Questions Related to Cryptocurrency On Wealthsimple?

If this article still hasn’t given you the answers to each of your questions, and you’re searching for more specific answers about Wealthsimple Halal Investing Review, visit the Wealthsimple site for answers to all your questions.