Wealthsimple Review 2022: Management Fee Wealthsimple

What is Wealthsimple?

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

A leading Canadian fintech company founded in Autumn of twenty fourteen exclusively as a robo advisor algorithmic automated trading platform called Wealthsimple Invest, it has grown considerably over the last eight years to also feature Wealthsimple Trade, a zero fees discount brokerage app.

Does Wealthsimple Trade Charge Any Fees?

Wealthsimple Trade allows Canadian investors to trade both stand alone stocks and ETFs without needing to pay any commissions. The exception is when trading stocks and ETFs which are listed in US Dollars. In this case, they do charge a nominal currency conversion fee when buying and selling. But, behind us are the times of paying Upwards of $7 for each trade with digital discount brokerages as was the case just a few years ago.

How Much Money do I Need in Order to Start on Wealthsimple Trade?

Wealthsimple is awesome such that they allow investors to make a minimum deposit of only $1. Most traditional banks and discount brokerages have sizeable initial deposit amounts of 1K-$5000. This makes it difficult for the typical new investor to start. With Wealthsimple Trade, you don’t have to be wealthy to start trading stocks and ETFs.

So Does Wealthsimple Trade Offer RRSP Accounts?

They do. Wealthsimple Trade has available both CRA registered and non-registered account types. One may select between both RRSP and TFSA account types during the setup wizard. 

So Does Wealthsimple Trade Have a Mobile Application?

Yes, Wealthsimple Trade offers a modern mobile app available to download on both Apple and also Android. The app makes the registration phase and trading of stocks and ETFs super easy.

Is Wealthsimple Trade Trustworthy?

Of course. Wealthsimple Trade is trustworthy. Wealthsimple has over 15 billion CAD of Assets Under Management (AUM). they’ve been doing business for more than 7 years and also now employs roughly 600 people. The controlling owner is the admired public Canadian corporation Power Corp of Canada. Weapthsimple Trade was the very first no-fee online discount brokerage operating in Canada.

So How Does One Add Funds to a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it so easy to deposit to your account. Simply connect to a chequing or savings account with your Trade account, and add funds to your account in only a few steps. Deposits from banks to Wealthsimple typically take just a couple of days. Funds can also be withdrawn a chequing or savings accounts by using the exact same steps.

Which Other Benefits and Products Are Available?

Wealthsimple Cash – An equivalent to e-Transfers that allows you to quickly and efficiently send 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 pitched as simple, accurate and always free income tax filing.

Wealthsimple Spend – A hybrid pre paid debit card and savings product which lets one to earn 1% cashback on your everyday spending, as well as get a competitive 1.5% interest on savings.

Personal Finance 101 – Wealthsimple’s free personal finance learning platform that includes a ton of courses on different topics such as saving, investing, crypto, home buying and much more. 

Each of the above products, including Wealthsimple Trade can be found within the app or at the website with a single login.

How Should I Start With Wealthsimple Trade?

Click here to register for your Wealthsimple Trade account. As an exclusive signup bonus offer for our audience you will get the equivalent cash value of a random share valued at up to $4,500 CAD once you deposit to your account.

So What if I Still Have Additional Questions Concerning Management Fee Wealthsimple?

If this blog post hasn’t given you the answers to all of your questions, and you’re looking for further specific information about Management Fee Wealthsimple, check out the Wealthsimple site to get answers to all your questions.