Wealthsimple Cash Card Review

What is Wealthsimple?

Wealthsimple is a convenient and easy to use Canadian digital investing, securities and crypto trading platform that differentiates itself from its competitors by charging no fees.

A fintech business launched in Autumn of twenty fourteen exclusively as a robo advisor trading platform called Wealthsimple Invest, it has changed considerably over the last eight years to include Wealthsimple Trade, a no fee discount brokerage app.

Does Wealthsimple Trade Charge Its Users Fees?

Wealthsimple Trade lets investors trade stand alone stocks and ETFs without paying any fees. The exception is when you’re trading stocks which are listed in USD. In which case, they do charge a nominal currency conversion fee when buying and selling. But, gone are the times of paying Upwards of $7 per trade with discount brokerages as was normal only a few years past.

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

Wealthsimple is unique in that they allow Canadian investors to make a minimum deposit of only $1. Most alternative banks and discount brokerages have large initial deposit amounts of 1k-$5000. This makes it difficult for the every day new investor to get started. With Wealthsimple Trade, you won’t have to already be wealthy to get started with trading stocks and ETFs.

Does Wealthsimple Trade Have RRSP Accounts?

It does. Wealthsimple Trade has available both registered and non-CRA-registered account types. One are able to choose both RRSP and TFSA account types in the setup phase.

Does Wealthsimple Trade Have a Mobile Application?

Yes, Wealthsimple Trade offers a modern mobile app offered to download on both Apple and also Google Play. The mobile app makes the enrollment phase and the trading of stocks and ETFs super a breeze.

But Is Wealthsimple Trade Safe?

For sure. Wealthsimple Trade is secure. Wealthsimple has in excess of 15 billion CAD in Assets Under Management (AUM). This company has been doing business for more than 7 years and also now employs over 600 people. The majority shareholder is the publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the very first no-fee digital brokerage operating in Canada.

But How Do I Add Money to a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it quite straight forward to deposit to your account. Simply connect to a chequing or savings account with your Trade account, and fund your account in simply a few clicks. Deposits from your bank to Wealthsimple usually take a few days. Funds can just as easily be moved to your chequing or savings account with the exact same process.

What Other Benefits and Products Are Offered by Wealthsimple?

Wealthsimple Cash – An alternative to E-transfers which allow one to quickly and easily transfer cash to friends and family in Canada.

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

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

Personal Finance 101 – Wealthsimple’s free personal finance platform that includes a bunch of different online courses on saving, investing, crypto, mortgages and much more.

All of the above features, including Wealthsimple Trade may be accessed in the app and from the site with one login.

So How Should I Begin Using Wealthsimple Trade?

Click here to register for your Wealthsimple Trade account. As an exclusive signup bonus offer for our readers you’ll receive the equivalent cash value of a Canadian stock worth $25 up to $4,500 CAD once you deposit to your account.

What if I Still Have Additional Questions Concerning Wealthsimple Cash Card Review?

If this blog post still hasn’t answered each of your questions, and you’re looking for further specific information about Wealthsimple Cash Card Review, visit the Wealthsimple website to find answers to every one of your questions.