Wealthsimple Review Definition: Complete Guide

What Exactly is Wealthsimple?

Wealthsimple is a simple to use Canadian digital Financial, stock plus crypto trading platform that distinguishes itself from similar apps by charging absolutely no fees. 

A leading Canadian online financial services company founded in the Fall of 2014 exclusively as a robo-advisor algorithmic automated trading app named Wealthsimple Invest, it has evolved significantly over the previous 8 years to also include Wealthsimple Trade, a zero fee discount brokerage app.

Does Wealthsimple Trade Charge Any Kind of Fees?

Wealthsimple Trade lets Canadian investors to trade stand alone stocks and also ETFs without paying fees. The exception to this is when trading securities that are listed in USD. In this case, they charge a small currency conversion fee when buying and selling. But, gone are the days of having to pay $7-12 for each trade with discount brokerages as was the norm just a few years past.

How Much Cash do I Need to Start Investing With Wealthsimple Trade?

Wealthsimple is unique such that they allow Canadians to make a minimum deposit of only $1. Most alternative banks and brokerages have large minimum deposit amounts of $1,000-$5,000. This makes it impossible for the everyday investor to start investing. With Wealthsimple Trade, you don’t need to be wealthy to begin trading stocks and ETFs.

So Does Wealthsimple Trade Offer TFSA Accounts?

It does. Wealthsimple Trade offers CRA registered and non-registered accounts. You are able to select between both RRSP and TFSA account types during the setup wizard. 

Does Wealthsimple Trade Offer a Mobile App?

Yes, Wealthsimple Trade offers a easy to use mobile app that is offered on both IOS and Android. The mobile app makes the enrollment process and the trading of stocks and ETFs truly a breeze.

So Is Wealthsimple Trade Secure?

. Wealthsimple Trade is secure. Wealthsimple reports over 15 billion CAD in Assets Under Management (AUM). they’ve been expanding for more than 7 years and employs more than 600 people. The majority owner is the large public Canadian entity Power Corp of Canada. Weapthsimple Trade is the very first no-fees online brokerage to operate in Canada.

But How Can I Fund a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it very straight forward to add funds to an account. Just connect a chequing or savings account to your Trade account, and add money to your account in simply a few clicks. Deposits from financial institutions to Wealthsimple normally take a couple of days. Funds can the same way can be moved to a chequing or savings accounts by the same process.

What Additional Benefits and Products Are Offered by Wealthsimple?

Wealthsimple Cash – This is alternative to E-Transfers which allows you to quickly and efficiently transfer cash to friends and family in Canada.

Wealthsimple Tax – Everything you require to get ready for tax season and submit your taxes online for free. It’s advertised to be easy, accurate and always totally free tax filing.

Wealthsimple Spend – A combination pre paid debit card and savings product that lets you to earn 1% cashback on your everyday spending, as well as earn a very competitive 1.5% interest on savings.

Personal Finance 101 – Wealthsimple’s free personal finance learning platform which includes a variety of different online courses on saving, investing, crypto, home buying and more. 

Each of the listed products, including Wealthsimple Trade may be found inside the app and from the site with one login.

But How Should I Begin With Wealthsimple Trade?

Click here to signup for a Wealthsimple Trade account. As an exclusive signup bonus for our audience you’ll receive the cash value of a stock worth up to $4,500 CAD once you make an initial deposit to your account.

So What if I Still Have Questions Related to Buy Bitcoin Wealthsimple?

If this review still hasn’t answered all of your questions, and you’re still browsing for further facts relating to Wealthsimple Review Definition, go to the Wealthsimple website for answers to every one of your questions.