Wealthsimple Review 500: Complete Guide

What is Wealthsimple?

Wealthsimple is a simple to use Canadian web based Financial, stock plus crypto trading platform that sets itself apart from the competition by charging absolutely no fees. 

A online financial services company founded in Fall of 2014 exclusively as a robo-advisor automated trading app named Wealthsimple Invest, it has grown considerably over the last eight years to feature Wealthsimple Trade, a no fees discount brokerage platform.

Does Wealthsimple Trade Charge Fees?

Wealthsimple Trade allows investors to trade both individual stocks and ETFs without needing to pay any commissions. The exception to this is when you’re trading ETFs and stocks that are displayed in US Dollars. In this case, they do charge a nominal currency conversion fee when buying and selling. But, gone are the times of having to pay $7-12 per each trade with online discount brokerages as was normal just a few years ago.

Exactly How Much Cash do I Need to Get Started on Wealthsimple Trade?

Wealthsimple is awesome in that they will allow Canadians to make a minimum deposit of only $1. Most traditional banks and brokerages have sizeable initial deposit amounts of $1,000-$5,000. This makes it difficult for the every day new investor to start. With Wealthsimple Trade, you don’t need to already be wealthy to get started with trading stocks and ETFs.

So Does Wealthsimple Trade Offer TFSA Accounts?

Of course. Wealthsimple Trade offers both CRA registered and non-registered accounts. You may select both RRSP and TFSA accounts during the setup process. 

So Does Wealthsimple Trade Offer a Mobile App?

Yes, Wealthsimple Trade has a easy to use mobile app offered to download on both IOS and also Android. The smartphone app makes the signup steps and also trading of stocks and ETFs super simple.

So Is Wealthsimple Trade Safe?

Of course. Wealthsimple Trade is legit. Wealthsimple has more than 15 billion CAD in Assets Under Management (AUM). They have been expanding for more than 7 years and also now employs roughly 600 people. The majority owner is the public Canadian corporation Power Corp of Canada. Weapthsimple Trade was the very first no-fee digital discount brokerage operating in Canada.

So How Does One Fund a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it straight forward to deposit to your new account. Simply connect to a chequing or savings account with your Trade account, then add money to your account in simply a couple of clicks. Deposits from banks to Wealthsimple typically take a few days. Funds can also be moved to a chequing or savings account by using the exact same method.

Which Other Benefits and Products Does Wealthsimple Offer?

Wealthsimple Cash – This is alternative to E-Transfers that allows one 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 taxes online free. It’s pitched as simple, accurate and always totally free tax filing.

Wealthsimple Spend – A combination pre paid visa and savings product which lets you to recieve 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 online courses on topics like saving, investing, crypto, mortgages and more. 

Each of the mentioned features, along with Wealthsimple Trade can be found in the mobile app or on their website with your Wealthsimple login.

How Can I Start Using Wealthsimple Trade?

Click here to signup for your Wealthsimple Trade account. As an exclusive signup bonus for our readers you’ll receive the equivalent cash value of a random Canadian stock worth up to $4,500 Canadian when you deposit to your account.

So What if I Still Have Additional Questions About Wealthsimple Halal Etf?

If this article didn’t answered each of your questions, and you’re browsing for further facts relating to Wealthsimple Review 500, visit the Wealthsimple site to find answers to all your questions.