Wealthsimple Review 60 Day

What is Wealthsimple?

Wealthsimple is a convenient and easy to use Canadian online Financial, stock and crypto trading platform that differentiates itself from the competition by charging absolutely no fees.

A online financial services business launched in the Fall 2014 originally as a robo-advisor algorithmic automated trading app called Wealthsimple Invest, it has improved considerably over the previous 8 years to also include Wealthsimple Trade, a no fees discount brokerage app.

Does Wealthsimple Trade Charge Any Kind of Fees?

Wealthsimple Trade lets Canadian investors to trade both individual stocks and ETFs without paying fees. The exception to this is when you’re trading securities which are denominated in US Dollars. In that case, they do charge a small currency conversion fee both when buying and selling. But, behind us are the times of paying more than $7 per each trade with online discount brokerages as was common only a couple years past.

Exactly How Much Cash do I Need to Have to Begin Investing on Wealthsimple Trade?

Wealthsimple is special such that they will allow Canadian investors to make a minimum deposit of only $1. Most alternative banks and discount brokerages have large initial deposit amounts of $1000-$5,000. This makes it tough for the everyday new investor to get started. With Wealthsimple Trade, you won’t have to be wealthy to get started with trading stocks and ETFs.

Does Wealthsimple Trade Have RRSP Accounts?

Of course. Wealthsimple Trade has available registered and non-CRA-registered accounts. You are able to choose between both RRSP and TFSA accounts in the setup wizard.

But Does Wealthsimple Trade Have a Mobile App?

Yes, Wealthsimple Trade has a modern mobile app offered on both Apple and also Google Play. The mobile app makes the enrollment process and the trading of stocks and ETFs truly a breeze.

But Is Wealthsimple Trade Safe?

For sure. Wealthsimple Trade is safe. Wealthsimple reports in excess of 15 billion CAD of Assets Under Management (AUM). they’ve been operating for more than 7 years and at this time employs about 600 Canadians. The main owner is the large publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the first no-fees online brokerage operating in Canada.

So How Does One Deposit to a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it quite simple to fund a new account. Just connect a chequing or savings account to your Trade account, and add money to your account in just a couple of steps. Deposits from banks to Wealthsimple typically take just a couple of days. Funds can also be withdrawn a chequing or savings account with the exact same process.

What Other Features and Products Does Wealthsimple Offer?

Wealthsimple Cash – This is alternative 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 prepare for this tax year and submit your tax return online free. It’s advertised to be easy, accurate and always totally free income tax filing.

Wealthsimple Spend – A combination prepaid debit card and savings account that lets you to get 1% cashback on all your spending, and also earn a very competitive 1.5% interest rate on savings.

Personal Finance 101 – Wealthsimple’s free personal finance platform which offers a bunch of online courses on saving, investments, crypto, real estate and much more.

Every one of the mentioned products, along with Wealthsimple Trade may be found in the app and at the website with a single login.

How Can I Get Started With Wealthsimple Trade?

Click here to setup a Wealthsimple Trade account. For a special signup bonus offer to our readers you’ll get the equivalent cash value of a random Canadian stock worth up to $4,500 CAD when you make an initial deposit to your account.

What if I Still Have Questions Concerning Wealthsimple Review 60 Day?

If this article still hasn’t answered each of your questions, and you’re browsing for more answers relating to Wealthsimple Review 60 Day, go to the Wealthsimple website to get answers to every one of your questions.