Wealthsimple Returns Review: Complete Guide

What is Wealthsimple?

Wealthsimple is an easy to use Canadian digital investing, stock and crypto trading web app that differentiates itself from its competitors by charging absolutely no fees. 

A online financial services company launched in Autumn of 2014 exclusively as a robo advisor trading platform called Wealthsimple Invest, it has evolved substantially over the previous 8 years to include Wealthsimple Trade, a no fees discount brokerage platform.

Does Wealthsimple Trade Charge Fees?

Wealthsimple Trade lets investors trade individual stocks and also ETFs without paying any commissions. The exception to this is when trading ETFs and stocks which are displayed in US Dollars. In this case, they will charge a small currency conversion fee when buying and selling. But, past us are the times of paying Upwards of $7 per each trade with online discount brokerages as was expected only a few years ago.

Exactly How Much in Funds do I Need to Start Investing With Wealthsimple Trade?

Wealthsimple is awesome in that they allow Canadian investors to make a minimum deposit of just $1. Most alternative banks and discount brokerages have quite large initial deposit amounts of 1k-5k. This makes it tough for the every day new investor to start. With Wealthsimple Trade, you don’t have to already be wealthy to start trading stocks and ETFs.

So Does Wealthsimple Trade Have Registered Accounts?

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

So Does Wealthsimple Trade Offer a Mobile Application?

Yes, Wealthsimple Trade offers a convenient mobile app that is available to download on IOS and also Google Play. The mobile app makes the signup process and also the trading of stocks and ETFs truly painless.

So Is Wealthsimple Trade Secure?

Yes. Wealthsimple Trade is legit. Wealthsimple has over 15 billion Canadian of Assets Under Management . These folks have been doing business for more than 7 years and also now employs over 600 Canadians. The majority shareholder is the respected public Canadian corporation Power Corp of Canada. Weapthsimple Trade is the first no-fee online discount brokerage operating in Canada.

But How Do I Add Money to a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it straight forward to deposit to a new account. Simply connect the app to a chequing or savings account to your Trade account, then add funds to your account in only a few clicks. Deposits from banks to Wealthsimple normally take only a couple of days. Funds can the same way can be withdrawn your chequing or savings account through the same steps.

Which Additional Features and Products Are Available?

Wealthsimple Cash – This is alternative to E-Transfers which allow one to quickly and simply transfer money to friends and family in Canada.

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

Wealthsimple Spend – A hybrid pre paid debit card and savings account that lets one to earn 1% cashback on your spending, and also get a competitive 1.5% interest rate on savings.

Personal Finance 101 – This is Wealthsimple’s free personal finance platform which offers a bunch of online courses on topics like saving, investing, crypto, home buying and more. 

Every one of the listed features, along with Wealthsimple Trade may be accessed in the app or from their site with a single login.

But How Can I Start With Wealthsimple Trade?

Click here to register for a Wealthsimple Trade account. As a special registration bonus to our readers you will receive the cash value of a Canadian stock valued at up to $4,500 CAD as soon as you deposit to your account.

So What if I Still Have Additional Questions Related to Etf Fees Wealthsimple?

If this article didn’t answered each of your questions, and you’re browsing for more specific answers relating to Wealthsimple Returns Review, go to the Wealthsimple website for answers to every one of your questions.