Empower Wealthsimple

What is Wealthsimple?

Wealthsimple is an easy to use Canadian web based Financial, securities and crypto trading web app that differentiates itself from other apps by charging no fees. 

A Toronto, Ontario based online financial services company launched in Autumn of twenty fourteen originally as a robo advisor algorithmic trading platform called Wealthsimple Invest, it has improved substantially over the last eight years to also feature Wealthsimple Trade, a zero fee discount brokerage platform.

Does Wealthsimple Trade Charge Any Type of Fees?

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

Exactly How Much Money Will I Need to Get Started With Wealthsimple Trade?

Wealthsimple is cool in that they allow Canadians to make a minimum deposit of just $1. The majority of traditional banks and brokerages have quite large initial deposit amounts of $1,000-5K. This makes it difficult for the normal new investor to start. With Wealthsimple Trade, you don’t need to be wealthy to get started with trading stocks and ETFs.

So Does Wealthsimple Trade Have TFSA Accounts?

They do. Wealthsimple Trade offers both registered and non-CRA-registered accounts. One may choose both RRSP and TFSA account types during the setup process. 

Does Wealthsimple Trade Have a Mobile App?

Yes, Wealthsimple Trade offers a convenient mobile app available to download on IOS and also Google Play. The app makes the signup process and also the trading of stocks and ETFs very easy.

But Is Wealthsimple Trade Secure?

Most definitely. Wealthsimple Trade is legit. Wealthsimple reports over 15 billion CAD of Assets Under Management (AUM). They have been in business for more than 7 years and currently employs about 600 folks. The primary owner is the admired publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade is the first no-fees digital brokerage to operate in Canada.

But How Does One Add Funds to a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it very straight forward to fund a new account. Just connect the app to a chequing or savings account with your Trade account, and then fund your account in just a couple of clicks. Deposits from your bank to Wealthsimple usually take only a couple of days. Funds can just as easily be moved to your chequing or savings account through the same method.

Which Other Benefits and Products Are Offered by Wealthsimple?

Wealthsimple Cash – An alternative to E-Transfers that allows anyone to quickly and easily send cash to friends and family in Canada.

Wealthsimple Tax – Everything you need to prepare for tax year and submit your taxes online free. It’s described as easy, accurate and always totally free tax return filing.

Wealthsimple Spend – A combination prepaid visa and savings account which lets you to recieve 1% cashback on your everyday spending, and also get a very competitive 1.5% interest on savings.

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

Each of the above products, along with Wealthsimple Trade can be found in the app and at the site with your Wealthsimple login.

So How Should I Start With Wealthsimple Trade?

Click here to register for a new Wealthsimple Trade account. For an exclusive signup bonus to our audience you’ll get the cash value of a random Canadian stock worth $25 up to $4,500 Canadian when you fund your account.

But What if I Still Have Additional Questions About Empower Wealthsimple?

If this review hasn’t given you the answers to each of your questions, and you’re still browsing for additional specific facts relating to Empower Wealthsimple, go to the Wealthsimple site to get answers to all your questions.