Wealthsimple Review 5000: Complete Guide

What Exactly is Wealthsimple?

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

A leading Canadian online financial services company founded in Autumn of 2014 exclusively as a robo-advisor algorithmic trading platform called Wealthsimple Invest, it has evolved substantially over the previous eight years to also include Wealthsimple Trade, a zero fees discount brokerage app.

Does Wealthsimple Trade Charge Any Fees?

Wealthsimple Trade allows consumers trade stand alone stocks and also ETFs without having to pay fees. The exception is when you’re trading ETFs and stocks which are listed in US Dollars. In that case, they do charge a currency conversion fee when buying and selling. However, gone are the times of paying Upwards of $7 for each trade with discount brokerages as was normal a couple years ago.

How Much in Funds Will I Need in Order to Start Investing on Wealthsimple Trade?

Wealthsimple is cool in that they allow Canadian investors to make a minimum deposit of just $1. Most traditional banks and brokerages have quite large initial deposit amounts of $1,000-$5,000. This makes it difficult for the common new investor to start investing. With Wealthsimple Trade, you don’t need to be wealthy to begin trading stocks and ETFs.

Does Wealthsimple Trade Offer TFSA Accounts?

Yes. Wealthsimple Trade has registered and non-CRA-registered account types. One are free to select both RRSP and TFSA account types in the setup phase. 

But Does Wealthsimple Trade Offer a Mobile App?

Yes, Wealthsimple Trade has a convenient mobile app available on both iOS and Android. The mobile app makes the enrollment phase and also trading of stocks and ETFs truly painless.

But Is Wealthsimple Trade Legit?

. Wealthsimple Trade is trustworthy. Wealthsimple boasts over 15 billion Canadian of Assets Under Management (AUM). they’ve been operating for more than 7 years and also employs roughly 600 people. The main shareholder is the large publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade was the first no-fee digital discount brokerage to operate in Canada.

So How Do I Add Funds to a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it quite simple to fund a new account. Simply connect the app to a chequing or savings account with your Trade account, and add funds to your account in only a couple of steps. Deposits from banks to Wealthsimple normally take just a few days. Funds can also be withdrawn your chequing or savings accounts with the exact same steps.

Which Additional Features and Products Does Wealthsimple Offer?

Wealthsimple Cash – An equivalent to E-transfers that allow anyone to quickly and simply send money to friends and family in Canada.

Wealthsimple Tax – Everything you require to get ready for this tax season and file your tax return online for free. It’s advertised to be simple, accurate and always totally free tax filing.

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

Personal Finance 101 – This is Wealthsimple’s free personal finance platform which offers a ton of online courses on saving, investments, crypto, mortgages and more. 

Each of the above products, along with Wealthsimple Trade can be accessed within the mobile app or on the website with your Wealthsimple login.

How Should I Begin Using Wealthsimple Trade?

Click here to register for a Wealthsimple Trade account. For an exclusive signup bonus to our audience you will receive the cash value of a Canadian stock worth $25 up to $4,500 Canadian as soon as you make an initial deposit to your account.

But What if I Still Have Questions About Wealthsimple Halal Portfolio Performance?

If this review didn’t given you the answers to each of your questions, and you’re looking for additional facts about Wealthsimple Review 5000, check out the Wealthsimple website to get answers to each your questions.