Wealthsimple Pension Review: Complete Guide

What is Wealthsimple?

Wealthsimple is an easy to use Canadian online investing, securities plus crypto trading app that differentiates itself from its competitors by charging absolutely no fees. 

A leading Canadian online financial services business founded in Autumn of 2014 originally as a robo-advisor algorithmic automated trading platform named Wealthsimple Invest, it has changed considerably over the previous eight years to feature Wealthsimple Trade, a zero fee discount brokerage platform.

Does Wealthsimple Trade Charge Any Type of Fees?

Wealthsimple Trade allows investors trade both single stocks and ETFs without paying fees. The exception is when trading stocks which are listed in US Dollars. In this case, they will charge a nominal currency conversion fee when buying and selling. But, behind us are the days of having to pay $7-12 per trade with online discount brokerages as was normal a few years past.

How Much in Funds Will I Need to Begin Investing With Wealthsimple Trade?

Wealthsimple is special such that they allow investors to make a minimum deposit of just $1. The majority of traditional banks and discount brokerages have sizeable min deposit amounts of $1000-5K. This makes it hard for the normal new investor to start. With Wealthsimple Trade, you don’t have to be wealthy to start trading stocks and ETFs.

But Does Wealthsimple Trade Have Registered Accounts?

They do. Wealthsimple Trade has both registered and non-CRA-registered account types. You may select both RRSP and TFSA accounts in the setup wizard. 

Does Wealthsimple Trade Offer a Mobile Application?

Yes, Wealthsimple Trade has a modern mobile app that is available to download on both iOS and also Google Play. The app makes the enrollment steps and also the trading of stocks and ETFs incredibly simple.

But Is Wealthsimple Trade Trustworthy?

Of course. Wealthsimple Trade is legit. Wealthsimple boasts in excess of 15 billion CAD of Assets Under Management (AUM). They have been operating for more than 7 years and also currently employs about 600 people. The controlling shareholder is the large public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the very first no-fee digital discount brokerage operating in Canada.

How Can I Add Money to a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it quite easy to deposit to your new account. Simply connect to a chequing or savings account to your Trade account, and then add funds to your account in simply a couple of clicks. Deposits from financial institutions to Wealthsimple normally take just a couple of days. Funds can also be moved back to a chequing or savings accounts through the exact same process.

Which Additional Benefits and Products Does Wealthsimple Offer?

Wealthsimple Cash – An equivalent to Interac E-Transfers that allow anyone to quickly and efficiently transfer money to friends and family in Canada.

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

Wealthsimple Spend – A combination prepaid debit card and savings product that lets you to recieve 1% cashback on your everyday spending, and also get a competitive 1.5% interest rate on savings.

Personal Finance 101 – Wealthsimple’s free personal finance platform which offers a ton of different courses on different topics such as saving, investing, crypto, real estate and much more. 

All of the listed features, including Wealthsimple Trade may be accessed in the app or at the website with your Wealthsimple login.

How Can I Get Started With Wealthsimple Trade?

Click here to signup for a new Wealthsimple Trade account. For a special signup bonus to our readers you will get the equivalent cash value of a random Canadian stock worth $25 up to $4,500 Canadian once you deposit to your account.

But What if I Still Have Questions About Wealthsimple Employees?

If this review still hasn’t answered all of your questions, and you’re looking for further info relating to Wealthsimple Pension Review, go to the Wealthsimple website for answers to all your questions.