Wealthsimple Halal Portfolio Review: Complete Guide

What is Wealthsimple?

Wealthsimple is an easy to use Canadian online Financial, stock and crypto trading web app that sets itself apart from similar apps by charging absolutely no fees. 

A leading Canadian fintech business founded in Autumn 2014 exclusively as a robo-advisor automated trading app named Wealthsimple Invest, it has grown significantly over the past 8 years to also include Wealthsimple Trade, a zero fee discount brokerage app.

Does Wealthsimple Trade Charge Any Type of Fees?

Wealthsimple Trade allows investors trade both individual stocks and ETFs without paying fees. The exception to this is when you’re trading securities which are denominated in USD currency. In that case, they do charge a currency conversion fee when buying and selling. But, gone are the times of paying more than $7 for each trade with online discount brokerages as was normal a couple years past.

How Much Money Will I Need in Order to Start Investing With Wealthsimple Trade?

Wealthsimple is special such that they allow Canadians to make a minimum deposit of just $1. Most alternative banks and discount brokerages have sizeable min deposit amounts of $1000-5K. This makes it difficult for the everyday investor to start. With Wealthsimple Trade, you won’t have to already be wealthy to get started with trading stocks and ETFs.

Does Wealthsimple Trade Have TFSA Accounts?

Yes. Wealthsimple Trade offers CRA registered and non-registered account types. One can select between both RRSP and TFSA accounts in the setup wizard. 

Does Wealthsimple Trade Offer a Mobile App?

Yes, Wealthsimple Trade has a well designed mobile app that is available to download on both Apple and also Google Play. The mobile app makes the registration steps and also the trading of stocks and ETFs truly painless.

So Is Wealthsimple Trade Legit?

Most definitely. Wealthsimple Trade is safe. Wealthsimple reports in excess of 15 billion Canadian of Assets Under Management . they’ve been expanding for more than 7 years and employs about 600 Canadians. The main owner is the respected public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the very first no-fee online brokerage operating in Canada.

How Do I Fund a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it easy to fund your new account. Just connect a chequing or savings account with your Trade account, and fund your account in only a couple of steps. Deposits from financial institutions to Wealthsimple usually take just a few days. Funds can just as easily be withdrawn a chequing or savings accounts using the exact same steps.

What Additional Benefits and Products Are Offered by Wealthsimple?

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

Wealthsimple Tax – Everything you’ll need to prepare for this tax year and file your taxes online free. It’s advertised to be easy, accurate and always free tax return filing.

Wealthsimple Spend – A combination pre paid visa and savings product that allows one to earn 1% cashback on your purchases, and also get a competitive 1.5% interest rate on savings.

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

All of the above products, along with Wealthsimple Trade may be accessed in the mobile app or from their site with your Wealthsimple login.

How Can I Start Using Wealthsimple Trade?

Click here to register for your Wealthsimple Trade account. As a special signup bonus to our audience you will get the cash value of a stock worth up to $4,500 Canadian once you make an initial deposit to your account.

So What if I Still Have Additional Questions About Coinbase Vs Wealthsimple?

If this article still hasn’t answered all of your questions, and you’re browsing for additional facts about Wealthsimple Halal Portfolio Review, visit the Wealthsimple site to find answers to all your questions.