Wealthsimple Job Review: Complete Guide

What Exactly is Wealthsimple?

Wealthsimple is a simple to use Canadian web based Financial, stock plus crypto trading platform that differentiates itself from similar apps by charging absolutely no fees. 

A leading Canadian online financial services business launched in the Autumn 2014 exclusively as a robo advisor trading app named Wealthsimple Invest, it has grown significantly over the last eight years to include Wealthsimple Trade, a no fee discount brokerage platform.

Does Wealthsimple Trade Charge Any Type of Fees?

Wealthsimple Trade lets Canadian investors trade stand alone stocks and also ETFs without paying any commissions. The exception to this is when you’re trading stocks that are listed in USD. In that case, they will charge a small currency conversion fee both when buying and selling. But, past us are the times of paying more than $7 per each trade with online discount brokerages as was the case a few years past.

How Much Cash Will I Need in Order to Get Started on Wealthsimple Trade?

Wealthsimple is unique such that they allow investors to make a minimum deposit of just $1. Most alternative banks and discount brokerages have quite large min deposit amounts of $1000-$5000. This makes it hard for the every day investor to start. With Wealthsimple Trade, you don’t have to be wealthy to get started with trading stocks and ETFs.

But Does Wealthsimple Trade Have RRSP Accounts?

It does. Wealthsimple Trade has available registered and non-registered accounts. One can choose both RRSP and TFSA account types in the setup wizard. 

But Does Wealthsimple Trade Have a Mobile App?

Yes, Wealthsimple Trade has a convenient mobile app available to download on IOS and Google Play. The smartphone app makes the registration steps and also the trading of stocks and ETFs easy.

Is Wealthsimple Trade Legit?

Most definitely. Wealthsimple Trade is secure. Wealthsimple reports more than 15 billion CAD in Assets Under Management (AUM). These folks have been doing business for more than 7 years and also currently employs over 600 people. The main shareholder is the publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade was the first no-fees online discount brokerage operating in Canada.

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

The Wealthsimple Trade mobile app makes it incredibly straight forward to add funds to your new account. Just connect a chequing or savings account to your Trade account, then add money to your account in only a few clicks. Deposits from banks to Wealthsimple typically take a couple of days. Funds can just as easily be withdrawn a chequing or savings account by the same method.

What Additional Benefits and Products Does Wealthsimple Offer?

Wealthsimple Cash – This is equivalent to e-Transfers that allow anyone to quickly and efficiently send money to friends and family in Canada.

Wealthsimple Tax – Everything you require to prepare for tax season and submit your tax return online for free. It’s pitched to be simple, accurate and always free tax filing.

Wealthsimple Spend – A combination prepaid debit card and savings account which lets you to get 1% cashback on your everyday spending, as well as earn a very competitive 1.5% interest on savings.

Personal Finance 101 – Wealthsimple’s free personal finance platform that includes a bunch of different courses on different topics such as saving, investing, crypto, mortgages and much more. 

Every one of the above features, along with Wealthsimple Trade may be accessed inside the mobile app or at the website with a single login.

How Should I Start Using Wealthsimple Trade?

Click here to register for a Wealthsimple Trade account. For an exclusive signup bonus offer for our readers you’ll get the cash value of a Canadian stock worth up to $4,500 Canadian as soon as you fund your account.

But What if I Still Have Questions Related to Wealthsimple Drs?

If this blog post still hasn’t given you the answers to each of your questions, and you’re still browsing for additional information about Wealthsimple Job Review, visit the Wealthsimple website to find answers to every one of your questions.