Wealthsimple Review 3000: Complete Guide

What is Wealthsimple?

Wealthsimple is an easy to use Canadian digital investing, stock plus crypto trading app that distinguishes itself from similar apps by charging absolutely no fees. 

A fintech company launched in the Autumn 2014 exclusively as a robo-advisor automated trading platform called Wealthsimple Invest, it has improved substantially over the last 8 years to feature Wealthsimple Trade, a no fees discount brokerage app.

Does Wealthsimple Trade Charge Its Users Fees?

Wealthsimple Trade allows Canadian consumers to trade stand alone stocks and ETFs without needing to pay fees. The exception is when you’re trading ETFs and stocks which are denominated in USD currency. In which case, they charge a small currency conversion fee when buying and selling. However, behind us are the days of paying more than $7 for each trade with digital discount brokerages as was common a couple years ago.

Exactly How Much Cash Will I Need to Have in Order to Get Started on Wealthsimple Trade?

Wealthsimple is cool in that they allow Canadian investors to make a minimum deposit of just $1. The majority of traditional banks and discount brokerages have quite large min deposit amounts of 1K-5k. This makes it tough for the normal new investor to start investing. With Wealthsimple Trade, you won’t have to be wealthy to start trading stocks and ETFs.

So Does Wealthsimple Trade Offer RRSP Accounts?

Of course. Wealthsimple Trade offers CRA registered and non-registered accounts. One can select between both RRSP and TFSA accounts in the setup wizard. 

Does Wealthsimple Trade Offer a Mobile App?

Yes, Wealthsimple Trade offers a easy to use mobile app that is offered to download on iOS and also Android. The app makes the enrollment steps and also trading of stocks and ETFs painless.

So Is Wealthsimple Trade Trustworthy?

Definitely. Wealthsimple Trade is safe. Wealthsimple reports over 15 billion Canadian of Assets Under Management . This company has been operating for more than 7 years and right now employs about 600 folks. The primary owner is the public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the very first no-fee online brokerage operating in Canada.

But How Can I Add Funds to a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it quite easy to deposit to a new account. Just connect to a chequing or savings account to your Trade account, and add money to your account in only a couple of steps. Deposits from banks to Wealthsimple normally take just a few days. Funds can the same way can be withdrawn a chequing or savings accounts using the same method.

Which Additional Features and Products Are Available?

Wealthsimple Cash – This is equivalent to E-Transfers which allow anyone to quickly and simply transfer cash to friends and family in Canada.

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

Wealthsimple Spend – A hybrid prepaid visa and savings account that allows one to get 1% cashback on all your spending, and also get a competitive 1.5% interest rate on savings.

Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform which offers a bunch of different courses on different topics such as saving, investing, crypto, real estate and more. 

Each of the mentioned features, including Wealthsimple Trade may be accessed within the app and on their site with your Wealthsimple login.

So How Can I Start Using Wealthsimple Trade?

Click here to setup a Wealthsimple Trade account. For an exclusive signup bonus to our audience you will receive the cash value of a random share valued at $25 up to $4,500 Canadian as soon as you make an initial deposit to your account.

So What if I Still Have Additional Questions Related to Get Free Stock Wealthsimple?

If this article hasn’t given you the answers to each of your questions, and you’re looking for more facts about Wealthsimple Review 3000, go to the Wealthsimple site to find answers to each your questions.