Wealthsimple Review 2022: Wealthsimple 1.5 Fee

What is Wealthsimple?

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

A fintech business founded in the Fall of twenty fourteen exclusively as a robo advisor trading platform named Wealthsimple Invest, it has evolved considerably over the previous eight years to also include Wealthsimple Trade, a zero fee discount brokerage platform.

Does Wealthsimple Trade Charge Any Type of Fees?

Wealthsimple Trade lets investors to trade stand alone stocks and ETFs without paying any fees. The exception is when trading stocks that are displayed in USD currency. In this case, they charge a currency conversion fee both when buying and selling. But, behind us are the times of having to pay $7-12 per each trade with discount brokerages as was common just a couple years past.

How Much Cash Will I Need to Start With Wealthsimple Trade?

Wealthsimple is special in that they will allow investors to make a minimum deposit of only $1. The majority of traditional banks and brokerages have large min deposit amounts of $1,000-$5000. This makes it hard for the every day investor to start. With Wealthsimple Trade, one doesn’t need to be wealthy to start trading stocks and ETFs.

So Does Wealthsimple Trade Have TFSA Accounts?

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

So Does Wealthsimple Trade Offer a Mobile Application?

Yes, Wealthsimple Trade has a modern mobile app that is offered on Apple and Android. The app makes the enrollment steps and also the trading of stocks and ETFs incredibly easy.

Is Wealthsimple Trade Secure?

Of course. Wealthsimple Trade is secure. Wealthsimple reports in excess of 15 billion CAD in Assets Under Management . they’ve been doing business for more than 7 years and at this time employs roughly 600 Canadians. The main shareholder is the admired publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade is the very first no-fee online discount brokerage operating in Canada.

But How Can I Deposit to a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it incredibly straight forward to fund your new account. Just connect the app to a chequing or savings account to your Trade account, and fund your account in simply a couple of clicks. Deposits from financial institutions to Wealthsimple typically take a few days. Funds can the same way can be moved back to your chequing or savings accounts by using the exact same method.

Which Other Features and Products Does Wealthsimple Offer?

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

Wealthsimple Tax – Everything you need to prepare for tax year and submit your taxes online for free. It’s described as simple, accurate and always totally free tax return filing.

Wealthsimple Spend – A hybrid prepaid visa and savings account which lets one to recieve 1% cashback on 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 learning platform which includes a variety of online courses on saving, investing, crypto, home buying and more. 

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

So How Should I Get Started Using Wealthsimple Trade?

Click here to register for a new Wealthsimple Trade account. As a special signup bonus for our readers you will get the cash value of a Canadian stock valued at $25 up to $4,500 Canadian once you make an initial deposit to your account.

But What if I Still Have Questions About Wealthsimple 1.5 Fee?

If this blog post didn’t answered each of your questions, and you’re browsing for further info relating to Wealthsimple 1.5 Fee, check out the Wealthsimple site for answers to each your questions.