Wealthsimple Negative Reviews: Complete Guide

What is Wealthsimple?

Wealthsimple is a convenient and easy to use Canadian web based investing, stock plus crypto trading app that differentiates itself from its competitors by charging no fees. 

A fintech business founded in the Autumn 2014 exclusively as a robo advisor trading app named Wealthsimple Invest, it has improved significantly over the last 8 years to include Wealthsimple Trade, a zero fees discount brokerage app.

Does Wealthsimple Trade Charge Any Kind of Fees?

Wealthsimple Trade allows investors to trade both single stocks and ETFs without paying any fees. The exception to this is when you’re trading stocks and ETFs that are listed in USD. In that case, they will charge a currency conversion fee both when buying and selling. But, past us are the days of having to pay more than $7 per trade with digital discount brokerages as was expected only a few years ago.

Exactly How Much Cash do I Need to Have in Order to Start With Wealthsimple Trade?

Wealthsimple is unique such that they will allow investors to make a minimum deposit of only $1. Most traditional banks and brokerages have large minimum deposit amounts of 1k-$5000. This makes it tough for the normal investor to get started. With Wealthsimple Trade, you won’t have to be wealthy to begin trading stocks and ETFs.

So Does Wealthsimple Trade Offer TFSA Accounts?

Of course. Wealthsimple Trade offers both registered and non-CRA-registered account types. One are free to choose both RRSP and TFSA accounts during the setup process. 

But Does Wealthsimple Trade Have a Mobile Application?

Yes, Wealthsimple Trade has a easy to use mobile app available on both IOS and also Google Play. The app makes the signup phase and also trading of stocks and ETFs painless.

So Is Wealthsimple Trade Trustworthy?

For sure. Wealthsimple Trade is legit. Wealthsimple boasts more than 15 billion CAD of Assets Under Management . They have been expanding for more than 7 years and employs roughly 600 people. The majority shareholder is the admired publicly traded Canadian entity Power Corp of Canada. Weapthsimple Trade was the first no-fees online brokerage operating in Canada.

So How Do I Fund a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it quite straight forward to deposit to a new account. Simply connect the app to a chequing or savings account to your Trade account, and add money to your account in just a few clicks. Deposits from banks to Wealthsimple usually take a few days. Funds can just as easily be withdrawn your chequing or savings accounts by using the same method.

Which Other Benefits and Products Does Wealthsimple Offer?

Wealthsimple Cash – An equivalent to E-transfers that allow anyone to quickly and simply transfer cash to friends and family in Canada.

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

Wealthsimple Spend – A hybrid pre paid debit card and savings account which allows one to recieve 1% cashback on all your everyday spending, as well as get a very competitive 1.5% interest rate on savings.

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

Each of the listed products, along with Wealthsimple Trade may be found inside the mobile app and at the site with one login.

So How do I Begin With Wealthsimple Trade?

Click here to register for a new Wealthsimple Trade account. As an exclusive registration bonus offer to our audience you will receive the equivalent cash value of a random share worth $25 up to $4,500 Canadian once you add funds to your account.

So What if I Still Have Questions About Delete Wealthsimple Account?

If this review hasn’t given you the answers to each of your questions, and you’re still looking for more specific information about Wealthsimple Negative Reviews, check out the Wealthsimple site to find answers to each your questions.