Wealthsimple Visa Review: Complete Guide

What is Wealthsimple?

Wealthsimple is an easy to use Canadian digital investing, securities plus crypto trading app that sets itself apart from the competition by charging absolutely no fees. 

A leading Canadian fintech business launched in Autumn of 2014 originally as a robo advisor trading platform called Wealthsimple Invest, it has changed substantially over the past 8 years to include Wealthsimple Trade, a zero fee discount brokerage app.

Does Wealthsimple Trade Charge Its Users Fees?

Wealthsimple Trade lets Canadian investors to trade individual stocks and also ETFs without having to pay fees. The exception is when trading stocks which are listed in US Dollars. In that case, they will charge a small currency conversion fee when buying and selling. But, past us are the times of paying more than $7 per trade with discount brokerages as was the norm only a couple years past.

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

Wealthsimple is special in that they allow new customers to make a minimum deposit of just $1. The majority of traditional banks and discount brokerages have large initial deposit amounts of $1,000-$5,000. This makes it tough for the normal investor to start. With Wealthsimple Trade, one doesn’t have to be wealthy to get started with trading stocks and ETFs.

So Does Wealthsimple Trade Offer TFSA Accounts?

Yes. Wealthsimple Trade has available both CRA registered and non-registered accounts. You are free to choose both RRSP and TFSA account types during the setup process. 

Does Wealthsimple Trade Offer a Mobile App?

Yes, Wealthsimple Trade offers a easy to use mobile app available to download on IOS and also Google Play. The mobile app makes the enrollment steps and also trading of stocks and ETFs very a breeze.

So Is Wealthsimple Trade Trustworthy?

Definitely. Wealthsimple Trade is legit. Wealthsimple reports over 15 billion Canadian in Assets Under Management . These folks have been expanding for more than 7 years and also now employs over 600 Canadians. The controlling shareholder is the publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the very first no-fee online brokerage operating in Canada.

So How Can I Fund a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it so easy to add funds to your account. Simply connect to a chequing or savings account with your Trade account, and add funds to your account in simply a couple of steps. Deposits from banks to Wealthsimple usually take only a couple of days. Funds can also be moved back to your chequing or savings account by the exact same steps.

Which Additional Benefits and Products Are Available?

Wealthsimple Cash – This is equivalent to E-Transfers that allow anyone to quickly and efficiently send cash to friends and family in Canada.

Wealthsimple Tax – Everything you’ll require to get ready for tax year and submit your tax return online free. It’s pitched to be easy, accurate and always totally free tax filing.

Wealthsimple Spend – A combination prepaid visa and savings product which allows one to recieve 1% cashback on your spending, as well as get a competitive 1.5% interest rate on savings.

Personal Finance 101 – This is Wealthsimple’s free personal finance education platform that offers a ton of courses on topics like saving, investing, crypto, mortgages and much more. 

Every one of the above features, including Wealthsimple Trade can be accessed within the mobile app and from the website with one login.

But How do I Begin Using Wealthsimple Trade?

Click here to register for a new Wealthsimple Trade account. For a special registration bonus offer to our readers you will receive the equivalent cash value of a Canadian stock worth up to $4,500 CAD as soon as you add funds to your account.

What if I Still Have Additional Questions Related to Founder Of Wealthsimple?

If this article hasn’t answered all of your questions, and you’re still browsing for further facts relating to Wealthsimple Visa Review, visit the Wealthsimple website for answers to all your questions.