Wealthsimple Review 401k: Complete Guide

What is Wealthsimple?

Wealthsimple is a simple to use Canadian web based investing, securities and crypto trading app that distinguishes itself from other apps by charging absolutely no fees. 

A leading Canadian fintech business launched in Fall twenty fourteen originally as a robo advisor automated trading platform named Wealthsimple Invest, it has changed substantially over the past eight years to also feature Wealthsimple Trade, a no fee discount brokerage app.

Does Wealthsimple Trade Charge Its Users Fees?

Wealthsimple Trade lets Canadian consumers trade both stand alone stocks and ETFs without having to pay fees. The exception to this is when you’re trading stocks and ETFs which are denominated in USD. In that case, they do charge a nominal currency conversion fee when buying and selling. However, past us are the days of having to pay $7-12 per trade with digital discount brokerages as was common just a couple years ago.

Exactly How Much in Funds do I Need to Start With Wealthsimple Trade?

Wealthsimple is special such that they allow investors to make a minimum deposit of just $1. Many traditional banks and discount brokerages have sizeable minimum deposit amounts of 1K-$5000. This makes it tough for the every day new investor to get started. With Wealthsimple Trade, you won’t need to be wealthy to start trading stocks and ETFs.

Does Wealthsimple Trade Have TFSA Accounts?

It does. Wealthsimple Trade has available both CRA registered and non-registered account types. One can choose between both RRSP and TFSA accounts in the setup phase. 

So Does Wealthsimple Trade Have a Mobile App?

Yes, Wealthsimple Trade has a well designed mobile app that is offered on Apple and Google Play. The smartphone app makes the signup steps and also trading of stocks and ETFs very a breeze.

But Is Wealthsimple Trade Safe?

. Wealthsimple Trade is safe. Wealthsimple has in excess of 15 billion CAD of Assets Under Management . This company has been expanding for more than 7 years and also employs more than 600 Canadians. The primary owner is the large public Canadian corporation Power Corp of Canada. Weapthsimple Trade was the first no-fees digital brokerage to operate in Canada.

How Does One Deposit to a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it so simple to add funds to your account. Simply connect a chequing or savings account to your Trade account, then add money to your account in only a few steps. Deposits from your bank to Wealthsimple typically take a few days. Funds can the same way can be moved to a chequing or savings account with the same process.

Which Additional Benefits and Products Does Wealthsimple Offer?

Wealthsimple Cash – An equivalent to Interac e-Transfers which allows you to quickly and efficiently send cash to friends and family in Canada.

Wealthsimple Tax – Everything you require to prepare for this tax season and file your tax return online free. It’s pitched to be easy, accurate and always totally free tax filing.

Wealthsimple Spend – A combination prepaid visa and savings product that allows you to earn 1% cashback on your purchases, as well as earn a competitive 1.5% interest rate on savings.

Personal Finance 101 – This is Wealthsimple’s free personal finance platform which includes a bunch of different courses on different topics such as saving, investments, crypto, mortgages and more. 

All of the listed features, along with Wealthsimple Trade may be accessed on the app and from the site with one login.

But How Can I Start With Wealthsimple Trade?

Click here to register for a new Wealthsimple Trade account. For a special signup bonus for our audience you’ll receive the equivalent cash value of a random Canadian stock worth $25 up to $4,500 Canadian once you make an initial deposit to your account.

So What if I Still Have Questions Related to Wealthsimple Help?

If this blog post still hasn’t given you the answers to each of your questions, and you’re still looking for additional specific information about Wealthsimple Review 401k, visit the Wealthsimple site to find answers to each your questions.