Wealthsimple Review 10k: Complete Guide

What Exactly is Wealthsimple?

Wealthsimple is a convenient and easy to use Canadian web based Financial, stocks and crypto trading platform that differentiates itself from similar apps by charging absolutely no fees. 

A Toronto, Ontario based fintech business founded in the Fall of twenty fourteen originally as a robo-advisor trading platform named Wealthsimple Invest, it has improved considerably over the previous eight years to also feature Wealthsimple Trade, a zero fee discount brokerage app.

Does Wealthsimple Trade Charge Any Kind of Fees?

Wealthsimple Trade lets Canadian investors trade both individual stocks and ETFs without having to pay commissions. The exception to this is when trading ETFs and stocks that are denominated in US Dollars. In which case, they charge a currency conversion fee both when buying and selling. However, past us are the times of paying more than $7 per each trade with online discount brokerages as was the norm a couple years ago.

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

Wealthsimple is unique such that they allow investors to make a minimum deposit of just $1. The majority of alternative banks and discount brokerages have quite large min deposit amounts of 1k-$5000. This makes it hard for the common new investor to start investing. With Wealthsimple Trade, one doesn’t have to be wealthy to get started with trading stocks and ETFs.

But Does Wealthsimple Trade Have RRSP Accounts?

Yes. Wealthsimple Trade has available both registered and non-registered accounts. You can select both RRSP and TFSA account types during the setup wizard. 

So Does Wealthsimple Trade Have a Mobile App?

Yes, Wealthsimple Trade has a easy to use mobile app that is available to download on iOS and Android. The mobile app makes the signup phase and also the trading of stocks and ETFs truly simple.

But Is Wealthsimple Trade Trustworthy?

Definitely. Wealthsimple Trade is safe. Wealthsimple has over 15 billion Canadian of Assets Under Management (AUM). They have been in business for more than 7 years and now employs roughly 600 folks. The primary owner is the admired public Canadian corporation Power Corp of Canada. Weapthsimple Trade is the very first no-fee online discount brokerage operating in Canada.

But How Do I Deposit to a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it straight forward to add money to your account. Just connect the app to a chequing or savings account to your Trade account, and then add money to your account in just a couple of clicks. Deposits from financial institutions to Wealthsimple typically take only a few days. Funds can the same way can be moved to your chequing or savings accounts by the exact same steps.

What Additional Features and Products Does Wealthsimple Offer?

Wealthsimple Cash – An alternative to Interac e-Transfers that allow anyone to quickly and simply transfer cash to friends and family in Canada.

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

Wealthsimple Spend – A hybrid prepaid visa and savings product which allows you to earn 1% cashback on your spending, as well as get a competitive 1.5% interest rate on savings.

Personal Finance 101 – This is Wealthsimple’s free personal finance education platform which offers a ton of online courses on topics like saving, investments, crypto, real estate and much more. 

Every one of the mentioned features, along with Wealthsimple Trade may be accessed in the mobile app and on their site with a single login.

But How do I Start Using Wealthsimple Trade?

Click here to setup your Wealthsimple Trade account. For an exclusive signup bonus for our audience you will get the equivalent cash value of a share valued at $25 up to $4,500 Canadian when you add funds to your account.

So What if I Still Have Questions Concerning Wealthsimple Gift Card?

If this article didn’t answered all of your questions, and you’re still searching for further specific answers relating to Wealthsimple Review 10k, visit the Wealthsimple site for answers to every one of your questions.