Wealthsimple Review 0365: Complete Guide

What Exactly is Wealthsimple?

Wealthsimple is a simple to use Canadian web based investing, stocks plus crypto trading app that differentiates itself from its competitors by charging absolutely no fees. 

A leading Canadian fintech company launched in the Fall of twenty fourteen exclusively as a robo advisor algorithmic automated trading app named Wealthsimple Invest, it has improved significantly over the last eight years to also include Wealthsimple Trade, a zero fees discount brokerage service.

Does Wealthsimple Trade Charge Any Kind of Fees?

Wealthsimple Trade allows investors trade individual stocks and also ETFs without paying any commissions. The exception to this is when trading stocks and ETFs that are listed in USD currency. In that case, they will charge a nominal currency conversion fee when buying and selling. However, behind us are the days of having to pay Upwards of $7 per each trade with digital discount brokerages as was the case only a couple years past.

How Much Cash Will I Need to Have in Order to Start on Wealthsimple Trade?

Wealthsimple is unique in that they allow Canadian investors to make a minimum deposit of just $1. Many traditional banks and brokerages have sizeable min deposit amounts of $1000-5K. This makes it hard for the common investor to get started. With Wealthsimple Trade, you won’t need to be wealthy to start trading stocks and ETFs.

Does Wealthsimple Trade Have Registered Accounts?

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

But Does Wealthsimple Trade Have a Mobile Application?

Yes, Wealthsimple Trade has a modern mobile app that is available on both IOS and also Android. The smartphone app makes the signup steps and trading of stocks and ETFs truly a breeze.

So Is Wealthsimple Trade Secure?

Yes. Wealthsimple Trade is legit. Wealthsimple reports in excess of 15 billion Canadian of Assets Under Management (AUM). they’ve been doing business for more than 7 years and also at this time employs over 600 folks. The majority owner is the publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the very first no-fee digital brokerage operating in Canada.

How Does One Deposit to a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it incredibly straight forward to add funds to a new account. Simply connect a chequing or savings account to your Trade account, then add funds to your account in only a few steps. Deposits from banks to Wealthsimple normally take just a few days. Funds can the same way can be moved back to a chequing or savings account with the exact same steps.

What Additional Benefits and Products Does Wealthsimple Offer?

Wealthsimple Cash – This is equivalent to Interac e-transfers that allows one to quickly and easily transfer cash to friends and family in Canada.

Wealthsimple Tax – Everything you’ll require to prepare for tax season and file your tax return online free. It’s described as simple, accurate and always free tax return filing.

Wealthsimple Spend – A combination pre paid visa and savings account which lets you to earn 1% cashback on your spending, as well as get a competitive 1.5% interest on savings.

Personal Finance 101 – This is Wealthsimple’s free personal finance education platform that offers a variety of online courses on different topics such as saving, investing, crypto, real estate and much more. 

All of the listed products, including Wealthsimple Trade can be found within the mobile app or from the website with your Wealthsimple login.

How do I Start With Wealthsimple Trade?

Click here to register for a new Wealthsimple Trade account. As a special signup bonus offer to our readers you will receive the cash value of a random Canadian stock worth $25 up to $4,500 Canadian once you make an initial deposit to your account.

What if I Still Have Questions About Wealthsimple Group Rrsp?

If this blog post didn’t given you the answers to each of your questions, and you’re searching for further info about Wealthsimple Review 0365, check out the Wealthsimple site for answers to all your questions.