Wealthsimple Review 90: Complete Guide

What Exactly is Wealthsimple?

Wealthsimple is a convenient and easy to use Canadian digital investing, stock and crypto trading web app that distinguishes itself from the competition by charging absolutely no fees. 

A leading Canadian fintech business launched in the Autumn of twenty fourteen originally as a robo-advisor automated trading app called Wealthsimple Invest, it has changed significantly over the previous eight years to include Wealthsimple Trade, a zero fees discount brokerage app.

Does Wealthsimple Trade Charge Its Users Fees?

Wealthsimple Trade lets investors to trade single stocks and also ETFs without having to pay fees. The exception is when you’re trading stocks which are listed in USD currency. In this case, they charge a currency conversion fee both when buying and selling. However, past us are the days of having to pay more than $7 for each trade with discount brokerages as was normal a few years ago.

Exactly How Much Cash do I Need to Have in Order to Start Investing on Wealthsimple Trade?

Wealthsimple is special such that they will allow investors to make a minimum deposit of only $1. Many alternative banks and brokerages have large initial deposit amounts of $1000-5K. This makes it hard for the everyday new investor to start investing. With Wealthsimple Trade, one doesn’t have to be wealthy to start trading stocks and ETFs.

But Does Wealthsimple Trade Have Registered Accounts?

It does. Wealthsimple Trade has CRA registered and non-CRA-registered account types. You can select between both RRSP and TFSA account types in the setup wizard. 

But Does Wealthsimple Trade Have a Mobile Application?

Yes, Wealthsimple Trade has a easy to use mobile app that is offered on iOS and also Google Play. The mobile app makes the enrollment steps and trading of stocks and ETFs very painless.

But Is Wealthsimple Trade Secure?

Definitely. Wealthsimple Trade is trustworthy. Wealthsimple reports more than 15 billion CAD of Assets Under Management (AUM). These folks have been doing business for more than 7 years and right now employs roughly 600 people. The main owner is the admired public Canadian corporation Power Corp of Canada. Weapthsimple Trade was the very first no-fees digital discount brokerage to operate in Canada.

So How Does One Add Funds to a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it incredibly simple to fund your account. Just connect a chequing or savings account with your Trade account, then add money to your account in only a few clicks. Deposits from financial institutions to Wealthsimple usually take only a couple of days. Funds can also be withdrawn a chequing or savings accounts using the same process.

Which Other Benefits and Products Are Available?

Wealthsimple Cash – This is equivalent to E-transfers that allows anyone to quickly and simply transfer cash to friends and family in Canada.

Wealthsimple Tax – Everything you require to prepare for this tax season and submit your tax return online free. It’s pitched as simple, accurate and always free tax return filing.

Wealthsimple Spend – A hybrid pre paid visa and savings account which lets one to recieve 1% cashback on your spending, as well as get a competitive 1.5% interest on savings.

Personal Finance 101 – Wealthsimple’s free personal finance learning platform which offers a variety of online courses on topics like saving, investments, crypto, home buying and much more. 

Each of the listed products, along with Wealthsimple Trade may be found in the app or at the website with one login.

So How Can I Begin With Wealthsimple Trade?

Click here to setup a Wealthsimple Trade account. As a special signup bonus offer to our audience you’ll get the equivalent cash value of a share valued at up to $4,500 CAD as soon as you make an initial deposit to your account.

What if I Still Have Additional Questions Related to Wealthsimple Ipo?

If this blog post still hasn’t given you the answers to all of your questions, and you’re looking for further specific information relating to Wealthsimple Review 90, check out the Wealthsimple site to get answers to every one of your questions.