Wealthsimple Review 2022: Ecn Fees Wealthsimple

What Exactly is Wealthsimple?

Wealthsimple is a simple to use Canadian online investing, stocks plus crypto trading web app that sets itself apart from similar apps by charging no fees. 

A fintech business launched in Autumn of 2014 originally as a robo advisor algorithmic automated trading app named Wealthsimple Invest, it has evolved significantly over the last eight years to also include Wealthsimple Trade, a zero fees discount brokerage service.

Does Wealthsimple Trade Charge Its Users Fees?

Wealthsimple Trade lets Canadian investors to trade individual stocks and ETFs without having to pay any fees. The exception to this is when you’re trading ETFs and stocks that are displayed in USD. In which case, they charge a currency conversion fee when buying and selling. But, gone are the times of paying $7-12 for each trade with discount brokerages as was normal a few years ago.

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

Wealthsimple is cool such that they allow Canadians to make a minimum deposit of only $1. The majority of alternative banks and discount brokerages have large min deposit amounts of 1K-$5000. This makes it tough for the typical investor to start investing. With Wealthsimple Trade, you don’t need to be wealthy to get started with trading stocks and ETFs.

Does Wealthsimple Trade Have RRSP Accounts?

Yes. Wealthsimple Trade has both registered and non-CRA-registered account types. One are free to select between both RRSP and TFSA account types in the setup phase. 

But Does Wealthsimple Trade Offer a Mobile Application?

Yes, Wealthsimple Trade offers a easy to use mobile app offered to download on both IOS and Android. The app makes the registration process and also the trading of stocks and ETFs truly a breeze.

But Is Wealthsimple Trade Safe?

Definitely. Wealthsimple Trade is secure. Wealthsimple has more than 15 billion Canadian of Assets Under Management . This company has been expanding for more than 7 years and also currently employs about 600 folks. The majority shareholder is the publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade was the very first no-fees online discount brokerage operating in Canada.

But How Do I Fund a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it so simple to fund a new account. Just connect to a chequing or savings account with your Trade account, and then add funds to your account in simply a few steps. Deposits from your bank to Wealthsimple usually take only a few days. Funds can the same way can be withdrawn a chequing or savings account through the exact same steps.

What Other Benefits and Products Are Offered by Wealthsimple?

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

Wealthsimple Tax – Everything you require to get ready for tax year and submit your tax return online for free. It’s advertised to be easy, accurate and always totally free tax return filing.

Wealthsimple Spend – A hybrid pre paid debit card and savings product that allows you to earn 1% cashback on all your spending, as well as earn a very competitive 1.5% interest rate on savings.

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

Every one of the above products, along with Wealthsimple Trade may be found in the app or at the website with one login.

So How Should I Begin With Wealthsimple Trade?

Click here to setup a Wealthsimple Trade account. As a special registration bonus offer to our readers you’ll get the equivalent cash value of a share worth $25 up to $4,500 CAD as soon as you make an initial deposit to your account.

What if I Still Have Additional Questions Concerning Ecn Fees Wealthsimple?

If this review hasn’t given you the answers to all of your questions, and you’re still searching for additional information about Ecn Fees Wealthsimple, visit the Wealthsimple website to get answers to every one of your questions.