Wealthsimple Roundup Review

What Exactly is Wealthsimple?

Wealthsimple is a simple to use Canadian digital Financial, securities plus crypto trading web app that distinguishes itself from the competition by charging no fees.

A Toronto, Ontario based fintech company launched in Autumn twenty fourteen originally as a robo advisor algorithmic automated trading app named Wealthsimple Invest, it has changed considerably over the past eight years to also include Wealthsimple Trade, a zero fees discount brokerage platform.

Does Wealthsimple Trade Charge Any Type of Fees?

Wealthsimple Trade lets Canadian consumers trade both single stocks and also ETFs without having to pay any fees. The exception is when trading ETFs and stocks which are displayed in US Dollars. In that case, they do charge a currency conversion fee both when buying and selling. But, gone are the days of paying more than $7 for each trade with discount brokerages as was the norm just a couple years ago.

How Much Money do I Need to Have in Order to Start on Wealthsimple Trade?

Wealthsimple is cool in that they will allow Canadian investors to make a minimum deposit of just $1. Most alternative banks and discount brokerages have sizeable initial deposit amounts of 1k-5k. This makes it hard for the typical investor to start. With Wealthsimple Trade, you don’t need to already be wealthy to start trading stocks and ETFs.

Does Wealthsimple Trade Offer RRSP Accounts?

Of course. Wealthsimple Trade has registered and non-registered account types. You are free to select between both RRSP and TFSA account types during the setup phase.

But Does Wealthsimple Trade Have a Mobile App?

Yes, Wealthsimple Trade has a convenient mobile app offered to download on Apple and also Google Play. The mobile app makes the signup steps and also trading of stocks and ETFs truly painless.

But Is Wealthsimple Trade Trustworthy?

Definitely. Wealthsimple Trade is safe. Wealthsimple has over 15 billion CAD in Assets Under Management (AUM). They have been operating for more than 7 years and also now employs roughly 600 folks. The majority shareholder is the respected public Canadian entity Power Corp of Canada. Weapthsimple Trade is the very first no-fees digital brokerage operating in Canada.

So How Do I Deposit to a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it very straight forward to add funds to your new account. Just connect the app to a chequing or savings account with your Trade account, and fund your account in simply a few steps. Deposits from your bank to Wealthsimple typically take only a few days. Funds can just as easily be withdrawn a chequing or savings accounts by the same method.

Which Other Features and Products Are Offered by Wealthsimple?

Wealthsimple Cash – This is equivalent to e-Transfers which allow you to quickly and efficiently transfer money to friends and family in Canada.

Wealthsimple Tax – Everything you require to prepare for this tax year and submit your taxes online for free. It’s described to be simple, accurate and always totally free income tax filing.

Wealthsimple Spend – A hybrid prepaid visa and savings product that lets you to earn 1% cashback on all your spending, as well as get a competitive 1.5% interest on savings.

Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform that offers a bunch of online courses on different topics such as saving, investments, crypto, mortgages and much more.

Each of the mentioned products, including Wealthsimple Trade may be accessed on the mobile app or at the site with one login.

So How Should I Get Started With Wealthsimple Trade?

Click here to create a Wealthsimple Trade account. As an exclusive registration bonus to our audience you’ll get the equivalent cash value of a Canadian stock valued at $25 up to $4,500 Canadian once you add funds to your account.

What if I Still Have Questions Concerning Wealthsimple Roundup Review?

If this review still hasn’t given you the answers to each of your questions, and you’re browsing for more specific info relating to Wealthsimple Roundup Review, go to the Wealthsimple site to find answers to each your questions.