Wealthsimple Review 700: Complete Guide

What Exactly is Wealthsimple?

Wealthsimple is a convenient and easy to use Canadian digital Financial, stocks plus crypto trading platform that distinguishes itself from the competition by charging absolutely no fees. 

A fintech business launched in Autumn of twenty fourteen exclusively as a robo-advisor trading platform called Wealthsimple Invest, it has changed significantly over the last eight years to include Wealthsimple Trade, a no fee discount brokerage platform.

Does Wealthsimple Trade Charge Any Kind of Fees?

Wealthsimple Trade lets consumers trade both individual stocks and ETFs without paying any fees. The exception is when trading securities that are listed in USD. In this case, they will charge a nominal currency conversion fee both when buying and selling. But, past us are the times of having to pay more than $7 per trade with digital discount brokerages as was the norm just a few years past.

How Much in Funds do I Need in Order to Get Started With Wealthsimple Trade?

Wealthsimple is cool in that they will allow Canadian investors to make a minimum deposit of just $1. Many traditional banks and discount brokerages have large minimum deposit amounts of $1,000-$5,000. This makes it hard for the normal new investor to start. With Wealthsimple Trade, one doesn’t have to be wealthy to start trading stocks and ETFs.

But Does Wealthsimple Trade Offer TFSA Accounts?

It does. Wealthsimple Trade has available CRA registered and non-CRA-registered accounts. You can select between both RRSP and TFSA accounts during the setup process. 

So Does Wealthsimple Trade Offer a Mobile App?

Yes, Wealthsimple Trade offers a modern mobile app offered on both Apple and Google Play. The app makes the signup phase and also trading of stocks and ETFs truly painless.

Is Wealthsimple Trade Secure?

Definitely. Wealthsimple Trade is safe. Wealthsimple boasts more than 15 billion Canadian of Assets Under Management (AUM). They have been doing business for more than 7 years and at this time employs over 600 people. The primary shareholder is the admired public Canadian entity Power Corp of Canada. Weapthsimple Trade was the first no-fee digital discount brokerage to operate in Canada.

So How Does One Deposit to a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it straight forward to add funds to a new account. Just connect the app to a chequing or savings account to your Trade account, and then add funds to your account in just a few steps. Deposits from your bank to Wealthsimple typically take only a few days. Funds can just as easily be moved back to a chequing or savings accounts with the same process.

What Additional Benefits and Products Are Offered by Wealthsimple?

Wealthsimple Cash – This is alternative to E-Transfers which allow one 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 submit your tax return online for free. It’s pitched to be simple, accurate and always free income tax filing.

Wealthsimple Spend – A hybrid prepaid visa and savings account that lets one to get 1% cashback on all your purchases, as well as get a very competitive 1.5% interest rate on savings.

Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform which includes a bunch of online courses on saving, investments, crypto, home buying and more. 

All of the mentioned products, along with Wealthsimple Trade can be found on the mobile app and at the site with your Wealthsimple login.

How do I Start Using Wealthsimple Trade?

Click here to create your Wealthsimple Trade account. As a special signup bonus offer to our audience you will get the cash value of a share worth $25 up to $4,500 CAD when you fund your account.

So What if I Still Have Questions Concerning How To Invest With Wealthsimple?

If this blog post didn’t given you the answers to each of your questions, and you’re still searching for more specific facts relating to Wealthsimple Review 700, go to the Wealthsimple website to get answers to each your questions.