Wealthsimple Review 2022: Does Wealthsimple Lend Shares

What is Wealthsimple?

Wealthsimple is a simple to use Canadian web based Financial, stock and crypto trading platform that sets itself apart from similar apps by charging no fees. 

A leading Canadian fintech company founded in Autumn twenty fourteen exclusively as a robo-advisor automated trading platform named Wealthsimple Invest, it has grown significantly over the last 8 years to feature Wealthsimple Trade, a no fee discount brokerage service.

Does Wealthsimple Trade Charge Its Users Fees?

Wealthsimple Trade allows investors to trade both individual stocks and ETFs without needing to pay commissions. The exception is when you’re trading stocks that are displayed in US Dollars. In which case, they charge a small currency conversion fee when buying and selling. But, behind us are the times of having to pay $7-12 per trade with online discount brokerages as was expected only a few years past.

How Much Cash Will I Need to Get Started With Wealthsimple Trade?

Wealthsimple is special in that they allow Canadian investors to make a minimum deposit of only $1. Most traditional banks and discount brokerages have quite large 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.

Does Wealthsimple Trade Have RRSP Accounts?

It does. Wealthsimple Trade has registered and non-registered account types. You are free to select between both RRSP and TFSA account types in the setup process. 

Does Wealthsimple Trade Have a Mobile App?

Yes, Wealthsimple Trade has a convenient mobile app that is offered on IOS and Google Play. The app makes the signup steps and the trading of stocks and ETFs truly a breeze.

But Is Wealthsimple Trade Safe?

Of course. 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 at this time employs over 600 Canadians. The main shareholder is the respected publicly traded Canadian entity Power Corp of Canada. Weapthsimple Trade is the very first no-fees online brokerage operating in Canada.

So How Do I Fund a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it very easy to add money to your new account. Simply connect the app to a chequing or savings account with your Trade account, then add funds to your account in only a few steps. Deposits from banks to Wealthsimple usually take just a few days. Funds can just as easily be withdrawn your chequing or savings accounts using the exact same method.

Which Additional Benefits and Products Are Available?

Wealthsimple Cash – An alternative to e-Transfers which allow you to quickly and efficiently transfer money to friends and family in Canada.

Wealthsimple Tax – Everything you’ll need to prepare for tax year and submit your tax return online free. It’s advertised as easy, accurate and always free income tax filing.

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

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

All of the mentioned products, along with Wealthsimple Trade can be found within the app and on the site with a single login.

But How Can I Get Started Using Wealthsimple Trade?

Click here to create a Wealthsimple Trade account. As a special registration bonus offer for our audience you will receive the equivalent cash value of a random Canadian stock valued at $25 up to $4,500 CAD once you make an initial deposit to your account.

But What if I Still Have Questions Concerning Does Wealthsimple Lend Shares?

If this blog post still hasn’t given you the answers to each of your questions, and you’re still looking for more specific facts about Does Wealthsimple Lend Shares, go to the Wealthsimple site for answers to each your questions.