Wealthsimple Review 2022: Wealthsimple 3 Day Hold

What Exactly is Wealthsimple?

Wealthsimple is a simple to use Canadian web based investing, stock plus crypto trading app that distinguishes itself from the competition by charging absolutely no fees. 

A leading Canadian fintech business launched in the Fall of 2014 exclusively as a robo-advisor trading platform named Wealthsimple Invest, it has evolved substantially over the past 8 years to feature Wealthsimple Trade, a no fees discount brokerage platform.

Does Wealthsimple Trade Charge Its Users Fees?

Wealthsimple Trade allows Canadian consumers trade both stand alone stocks and ETFs without paying fees. The exception is when you’re trading stocks and ETFs which are listed in USD currency. In which case, they will charge a nominal currency conversion fee when buying and selling. However, gone are the days of having to pay $7-12 per trade with discount brokerages as was the norm just a few years past.

How Much Cash do I Need to Start Investing With Wealthsimple Trade?

Wealthsimple is unique such that they will allow investors to make a minimum deposit of only $1. Most traditional banks and brokerages have quite large initial deposit amounts of 1k-5K. This makes it tough for the everyday investor to start investing. With Wealthsimple Trade, one doesn’t need to be wealthy to get started with trading stocks and ETFs.

Does Wealthsimple Trade Offer RRSP Accounts?

Yes. Wealthsimple Trade offers both CRA registered and non-CRA-registered accounts. You are able to select between both RRSP and TFSA account types during the setup wizard. 

But Does Wealthsimple Trade Have a Mobile App?

Yes, Wealthsimple Trade offers a modern mobile app that is available on both iOS and also Android. The app makes the enrollment process and trading of stocks and ETFs very simple.

But Is Wealthsimple Trade Legit?

. Wealthsimple Trade is secure. Wealthsimple reports in excess of 15 billion Canadian in Assets Under Management . This company has been expanding for more than 7 years and also right now employs roughly 600 folks. The primary shareholder is the large public Canadian company Power Corp of Canada. Weapthsimple Trade was the very first no-fee digital brokerage operating in Canada.

So How Does One Deposit to a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it very straight forward to deposit to an account. Simply connect a chequing or savings account to your Trade account, then add money to your account in simply a couple of clicks. Deposits from financial institutions to Wealthsimple typically take just a few days. Funds can the same way can be withdrawn your chequing or savings accounts by the exact same process.

Which Other Features and Products Are Offered by Wealthsimple?

Wealthsimple Cash – This is alternative to E-transfers which allow one to quickly and easily send money to friends and family in Canada.

Wealthsimple Tax – Everything you’ll require to get ready for this tax season and submit your taxes online free. It’s advertised to be easy, accurate and always free tax filing.

Wealthsimple Spend – A hybrid prepaid visa and savings product which lets one to recieve 1% cashback on your everyday spending, and also get a very competitive 1.5% interest rate on savings.

Personal Finance 101 – This is Wealthsimple’s free personal finance platform that includes a variety of online courses on topics like saving, investing, crypto, home buying and much more. 

Every one of the listed products, including Wealthsimple Trade can be found inside the mobile app and at the website with your Wealthsimple login.

So How Should I Get Started With Wealthsimple Trade?

Click here to create a new Wealthsimple Trade account. As an exclusive signup bonus to our audience you’ll receive the equivalent cash value of a stock worth $25 up to $4,500 Canadian when you fund your account.

So What if I Still Have Additional Questions Concerning Wealthsimple 3 Day Hold?

If this article hasn’t answered each of your questions, and you’re still browsing for further info relating to Wealthsimple 3 Day Hold, check out the Wealthsimple website to find answers to each your questions.