Wealthsimple Review 777: Complete Guide

What is Wealthsimple?

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

A leading Canadian fintech business launched in the Autumn 2014 originally as a robo advisor automated trading app named Wealthsimple Invest, it has evolved considerably over the last 8 years to feature Wealthsimple Trade, a no fee discount brokerage app.

Does Wealthsimple Trade Charge Any Fees?

Wealthsimple Trade lets consumers to trade both individual stocks and ETFs without having to pay fees. The exception is when trading ETFs and stocks that are displayed in USD. In this case, they will charge a small currency conversion fee both when buying and selling. But, past us are the days of having to pay $7-12 per trade with digital discount brokerages as was the case just a couple years ago.

Exactly How Much Cash Will I Need to Have to Start Investing on Wealthsimple Trade?

Wealthsimple is cool such that they will allow Canadian investors to make a minimum deposit of just $1. The majority of alternative banks and discount brokerages have quite large minimum deposit amounts of $1000-$5,000. This makes it difficult for the typical investor to start investing. With Wealthsimple Trade, you won’t have to already be wealthy to begin trading stocks and ETFs.

So Does Wealthsimple Trade Offer RRSP Accounts?

They do. Wealthsimple Trade has available both registered and non-registered accounts. You may choose both RRSP and TFSA account types during the setup wizard. 

So Does Wealthsimple Trade Have a Mobile App?

Yes, Wealthsimple Trade offers a convenient mobile app offered to download on IOS and Google Play. The smartphone app makes the registration process and the trading of stocks and ETFs a breeze.

Is Wealthsimple Trade Safe?

Of course. Wealthsimple Trade is safe. Wealthsimple reports in excess of 15 billion Canadian of Assets Under Management (AUM). This company has been expanding for more than 7 years and employs about 600 folks. The main owner is the admired public Canadian corporation Power Corp of Canada. Weapthsimple Trade was the first no-fees digital brokerage operating in Canada.

How Do I Add Funds to a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it incredibly simple to deposit to a new account. Simply connect a chequing or savings account to your Trade account, then fund your account in only a couple of steps. Deposits from your bank to Wealthsimple usually take a couple of days. Funds can also be moved back to your chequing or savings accounts by the same process.

What Other Benefits and Products Are Offered by Wealthsimple?

Wealthsimple Cash – An alternative to E-Transfers that allows one to quickly and simply send cash to friends and family in Canada.

Wealthsimple Tax – Everything you’ll need to prepare for this tax season and submit your tax return online for free. It’s described as easy, accurate and always totally free tax return filing.

Wealthsimple Spend – A hybrid pre paid debit card and savings product which allows one to get 1% cashback on your purchases, as well as 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 online courses on topics like saving, investing, crypto, real estate and much more. 

Each of the listed features, along with Wealthsimple Trade can be found on the app and from the website with your Wealthsimple login.

How do I Begin Using Wealthsimple Trade?

Click here to register for a Wealthsimple Trade account. For an exclusive signup bonus offer for our audience you will get the equivalent cash value of a share worth $25 up to $4,500 CAD once you add funds to your account.

So What if I Still Have Additional Questions About How Safe Is Wealthsimple?

If this review still hasn’t given you the answers to each of your questions, and you’re still searching for additional info about Wealthsimple Review 777, check out the Wealthsimple website to get answers to all your questions.