Wealthsimple Review 2022: Wealthsimple Exchange Rate

What Exactly is Wealthsimple?

Wealthsimple is a simple to use Canadian digital investing, securities plus crypto trading platform that sets itself apart from the competition by charging no fees. 

A online financial services company launched in the Fall twenty fourteen exclusively as a robo-advisor automated trading platform named Wealthsimple Invest, it has improved substantially over the last 8 years to also feature Wealthsimple Trade, a no fee discount brokerage platform.

Does Wealthsimple Trade Charge Any Type of Fees?

Wealthsimple Trade allows Canadian investors trade single stocks and ETFs without needing to pay commissions. The exception is when trading ETFs and stocks which are displayed in US Dollars. In this case, they do charge a currency conversion fee when buying and selling. However, gone are the days of having to pay more than $7 per each trade with online discount brokerages as was expected only a few years past.

Exactly How Much Money Will I Need to Have in Order to Start on Wealthsimple Trade?

Wealthsimple is awesome in that they will allow Canadian investors to make a minimum deposit of only $1. Many alternative banks and discount brokerages have sizeable initial deposit amounts of 1K-5K. This makes it hard for the every day new investor to get started. With Wealthsimple Trade, you don’t have to already be wealthy to start trading stocks and ETFs.

So Does Wealthsimple Trade Have RRSP Accounts?

Yes. Wealthsimple Trade has available CRA registered and non-CRA-registered account types. One can select between both RRSP and TFSA accounts during the setup wizard. 

But Does Wealthsimple Trade Offer a Mobile App?

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

But Is Wealthsimple Trade Safe?

Definitely. Wealthsimple Trade is trustworthy. Wealthsimple boasts over 15 billion CAD in Assets Under Management . they’ve been doing business for more than 7 years and also now employs about 600 Canadians. The main owner is the publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade was the first no-fees online discount brokerage to operate in Canada.

How Can I Fund a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it quite straight forward to fund your account. Just connect the app to a chequing or savings account to your Trade account, then add money to your account in just a few clicks. Deposits from your bank to Wealthsimple typically take only a few days. Funds can also be withdrawn your chequing or savings account using the same process.

Which Additional Benefits and Products Are Offered by Wealthsimple?

Wealthsimple Cash – This is alternative to e-Transfers which allows one to quickly and efficiently send cash to friends and family in Canada.

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

Wealthsimple Spend – A combination pre paid visa and savings account that lets one to get 1% cashback on all your purchases, and also earn a very competitive 1.5% interest rate on savings.

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

All of the mentioned products, along with Wealthsimple Trade may be found inside the mobile app or on the website with a single login.

So How do I Begin With Wealthsimple Trade?

Click here to create your Wealthsimple Trade account. As an exclusive signup bonus offer for our audience you’ll receive the equivalent cash value of a Canadian stock valued at up to $4,500 CAD as soon as you make an initial deposit to your account.

But What if I Still Have Additional Questions Concerning Wealthsimple Exchange Rate?

If this review hasn’t given you the answers to all of your questions, and you’re looking for additional answers relating to Wealthsimple Exchange Rate, check out the Wealthsimple site for answers to every one of your questions.