Wealthsimple Review 2022: Autopilot Wealthsimple

What is Wealthsimple?

Wealthsimple is a convenient and easy to use Canadian online investing, securities plus crypto trading platform that sets itself apart from other apps by charging no fees. 

A Toronto, Ontario based online financial services business launched in the Autumn of twenty fourteen originally as a robo-advisor algorithmic automated trading app called Wealthsimple Invest, it has evolved considerably over the last 8 years to feature Wealthsimple Trade, a zero fee discount brokerage platform.

Does Wealthsimple Trade Charge Its Users Fees?

Wealthsimple Trade lets Canadian investors to trade individual stocks and also ETFs without paying fees. The exception to this is when trading ETFs and stocks that are denominated in USD currency. In this case, they will charge a small currency conversion fee both when buying and selling. However, gone are the days of having to pay more than $7 per each trade with discount brokerages as was expected just a couple years past.

Exactly How Much Cash Will I Need to Have to Start Investing on Wealthsimple Trade?

Wealthsimple is unique in that they allow Canadian investors to make a minimum deposit of just $1. The majority of traditional banks and brokerages have quite large min deposit amounts of $1000-5K. This makes it impossible for the typical new investor to get started. With Wealthsimple Trade, one doesn’t have to already be wealthy to begin trading stocks and ETFs.

So Does Wealthsimple Trade Have Registered Accounts?

It does. Wealthsimple Trade offers both registered and non-CRA-registered accounts. You can choose between both RRSP and TFSA account types in the setup phase. 

So Does Wealthsimple Trade Offer a Mobile App?

Yes, Wealthsimple Trade offers a well designed mobile app available to download on both IOS and Android. The smartphone app makes the enrollment process and also the trading of stocks and ETFs incredibly a breeze.

But Is Wealthsimple Trade Safe?

Definitely. Wealthsimple Trade is safe. Wealthsimple boasts over 15 billion CAD in Assets Under Management (AUM). they’ve been doing business for more than 7 years and also at this time employs roughly 600 folks. The main shareholder is the respected public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the first no-fee online brokerage to operate in Canada.

How Do I Add Funds to a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it very easy to add funds 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 simply a couple of clicks. Deposits from your bank to Wealthsimple usually take a couple of days. Funds can also be moved back to your chequing or savings account by the same method.

What Other Features and Products Does Wealthsimple Offer?

Wealthsimple Cash – An alternative to Interac E-Transfers which allows anyone to quickly and easily transfer money to friends and family in Canada.

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

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

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

Each of the mentioned products, including Wealthsimple Trade may be accessed in the app or on their site with one login.

How do I Get Started Using Wealthsimple Trade?

Click here to register for a new Wealthsimple Trade account. As an exclusive registration bonus offer for our readers you will get the cash value of a random share valued at $25 up to $4,500 CAD once you add funds to your account.

But What if I Still Have Additional Questions About Autopilot Wealthsimple?

If this blog post hasn’t answered all of your questions, and you’re looking for additional information relating to Autopilot Wealthsimple, go to the Wealthsimple website to find answers to each your questions.