Wealthsimple Review 800: Complete Guide

What is Wealthsimple?

Wealthsimple is an easy to use Canadian web based investing, stocks and crypto trading app that differentiates itself from its competitors by charging no fees. 

A leading Canadian online financial services business launched in Autumn of 2014 originally as a robo-advisor automated trading app named Wealthsimple Invest, it has grown considerably over the previous eight years to also feature Wealthsimple Trade, a zero fees discount brokerage app.

Does Wealthsimple Trade Charge Any Type of Fees?

Wealthsimple Trade allows Canadian consumers to trade both stand alone stocks and ETFs without needing to pay any fees. The exception is when you’re trading securities which are listed in USD. In which case, they do charge a nominal currency conversion fee both when buying and selling. But, behind us are the times of having to pay more than $7 per each trade with discount brokerages as was common only a couple years ago.

Exactly How Much Money Will I Need in Order to Begin Investing With Wealthsimple Trade?

Wealthsimple is awesome such that they will allow new customers to make a minimum deposit of only $1. The majority of traditional banks and discount brokerages have sizeable initial deposit amounts of $1000-5K. This makes it impossible for the every day investor to get started. With Wealthsimple Trade, one doesn’t have to be wealthy to get started with trading stocks and ETFs.

But Does Wealthsimple Trade Have Registered Accounts?

They do. Wealthsimple Trade offers CRA registered and non-registered accounts. You may select both RRSP and TFSA accounts in the setup phase. 

Does Wealthsimple Trade Offer a Mobile App?

Yes, Wealthsimple Trade has a modern mobile app available to download on both Apple and also Google Play. The mobile app makes the registration steps and trading of stocks and ETFs super simple.

So Is Wealthsimple Trade Legit?

Of course. Wealthsimple Trade is trustworthy. Wealthsimple has more than 15 billion CAD of Assets Under Management (AUM). This company has been operating for more than 7 years and also right now employs about 600 Canadians. The majority shareholder is the respected publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the first no-fees online discount brokerage operating in Canada.

So How Do I Fund a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it so straight forward to fund your account. Simply connect the app to a chequing or savings account with your Trade account, and add money to your account in just a couple of steps. Deposits from banks to Wealthsimple typically take just a few days. Funds can just as easily be moved back to your chequing or savings accounts using the exact same process.

Which Additional Benefits and Products Does Wealthsimple Offer?

Wealthsimple Cash – This is equivalent to e-transfers that allows anyone to quickly and efficiently transfer money to friends and family in Canada.

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

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

Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform that offers a variety of online courses on different topics such as saving, investing, crypto, mortgages and much more. 

Every one of the mentioned features, along with Wealthsimple Trade may be found on the app and from the website with one login.

But How do I Begin Using Wealthsimple Trade?

Click here to signup for your Wealthsimple Trade account. As an exclusive registration bonus to our readers you will get the equivalent cash value of a random stock worth up to $4,500 Canadian as soon as you make an initial deposit to your account.

So What if I Still Have Additional Questions Concerning Wealthsimple Invest?

If this review hasn’t given you the answers to each of your questions, and you’re looking for additional specific info about Wealthsimple Review 800, go to the Wealthsimple site to get answers to each your questions.