Wealthsimple Review 2022: Wealthsimple Risk Level 3

What is Wealthsimple?

Wealthsimple is an easy to use Canadian web based investing, stocks plus crypto trading web app that differentiates itself from other apps by charging no fees. 

A online financial services business launched in the Fall 2014 exclusively as a robo-advisor trading app called Wealthsimple Invest, it has changed considerably over the last eight years to also feature Wealthsimple Trade, a zero fee discount brokerage platform.

Does Wealthsimple Trade Charge Any Fees?

Wealthsimple Trade lets consumers to trade individual stocks and ETFs without having to pay any fees. The exception is when trading securities that are listed in USD. In which case, they charge a currency conversion fee when buying and selling. But, behind us are the times of having to pay Upwards of $7 per trade with online discount brokerages as was expected only a few years past.

How Much in Funds Will I Need to Have to Get Started on Wealthsimple Trade?

Wealthsimple is special in that they will allow Canadian investors to make a minimum deposit of only $1. The majority of traditional banks and brokerages have quite large initial deposit amounts of 1k-5K. This makes it hard for the everyday new investor to start. With Wealthsimple Trade, you won’t have to be wealthy to begin trading stocks and ETFs.

Does Wealthsimple Trade Offer RRSP Accounts?

It does. Wealthsimple Trade has both registered and non-registered account types. You are able to select between both RRSP and TFSA accounts during the setup process. 

Does Wealthsimple Trade Offer a Mobile Application?

Yes, Wealthsimple Trade offers a convenient mobile app offered to download on both iOS and Android. The app makes the signup process and also trading of stocks and ETFs truly easy.

So Is Wealthsimple Trade Safe?

For sure. Wealthsimple Trade is trustworthy. Wealthsimple boasts over 15 billion CAD of Assets Under Management . This company has been doing business for more than 7 years and at this time employs over 600 people. The controlling shareholder is the large public Canadian entity Power Corp of Canada. Weapthsimple Trade was the very first no-fee digital brokerage operating in Canada.

So How Can I Add Money to a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it quite easy to add funds to your new account. Just connect a chequing or savings account to your Trade account, then add money to your account in just a few steps. Deposits from your bank to Wealthsimple normally take just a few days. Funds can the same way can be moved back to your chequing or savings account through the exact same steps.

Which Additional Features and Products Are Available?

Wealthsimple Cash – This is alternative to Interac e-Transfers which allows 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 year and file your taxes online free. It’s advertised to be simple, accurate and always free tax filing.

Wealthsimple Spend – A combination prepaid debit card and savings account which allows one to recieve 1% cashback on all your everyday spending, as well as get a very competitive 1.5% interest rate on savings.

Personal Finance 101 – Wealthsimple’s free personal finance platform that offers a bunch of different courses on topics like saving, investments, crypto, mortgages and more. 

All of the mentioned products, including Wealthsimple Trade may be accessed within the app and from their site with a single login.

But How Should I Get Started With Wealthsimple Trade?

Click here to signup for a new Wealthsimple Trade account. For an exclusive registration bonus for our audience you’ll get the cash value of a random Canadian stock valued at up to $4,500 CAD when you deposit to your account.

So What if I Still Have Questions About Wealthsimple Risk Level 3?

If this blog post didn’t given you the answers to all of your questions, and you’re still searching for further specific answers relating to Wealthsimple Risk Level 3, visit the Wealthsimple website for answers to every one of your questions.