How Safe Is Wealthsimple

What is Wealthsimple?

Wealthsimple is an easy to use Canadian web based investing, stock and crypto trading app that distinguishes itself from the competition by charging no fees. 

A leading Canadian fintech business launched in Autumn twenty fourteen exclusively as a robo advisor trading platform called Wealthsimple Invest, it has changed considerably over the previous 8 years to include Wealthsimple Trade, a no fee discount brokerage service.

Does Wealthsimple Trade Charge Any Kind of Fees?

Wealthsimple Trade lets Canadian investors trade single stocks and also ETFs without having to pay fees. The exception is when trading stocks and ETFs that are displayed in USD currency. In which case, they will charge a nominal currency conversion fee when buying and selling. However, gone are the times of paying more than $7 for each trade with discount brokerages as was the norm a few years ago.

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

Wealthsimple is special such that they will allow Canadian investors to make a minimum deposit of only $1. The majority of traditional banks and brokerages have sizeable minimum deposit amounts of 1k-5K. This makes it difficult for the everyday investor to get started. With Wealthsimple Trade, one doesn’t need to be wealthy to begin trading stocks and ETFs.

Does Wealthsimple Trade Have TFSA Accounts?

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

But Does Wealthsimple Trade Offer a Mobile App?

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

But Is Wealthsimple Trade Safe?

Yes. Wealthsimple Trade is legit. Wealthsimple boasts more than 15 billion Canadian of Assets Under Management (AUM). they’ve been doing business for more than 7 years and also now employs roughly 600 Canadians. The primary owner is the publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade is the first no-fee digital brokerage operating in Canada.

But How Do I Fund a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it simple to deposit to a new account. Just connect a chequing or savings account with your Trade account, and add funds to your account in just a couple of steps. Deposits from financial institutions to Wealthsimple usually take a couple of days. Funds can the same way can be moved to a chequing or savings account with the exact same steps.

What Additional Benefits and Products Are Available?

Wealthsimple Cash – This is equivalent to E-transfers which allow anyone to quickly and efficiently send money to friends and family in Canada.

Wealthsimple Tax – Everything you need to get ready for tax year and file your taxes online for free. It’s advertised to be simple, accurate and always free income tax filing.

Wealthsimple Spend – A combination pre paid visa and savings product which allows you to get 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 platform that offers a bunch of online courses on different topics such as saving, investments, crypto, real estate and more. 

All of the listed products, including Wealthsimple Trade may be accessed inside the app or at their website with a single login.

But How Can I Start With Wealthsimple Trade?

Click here to create a Wealthsimple Trade account. As an exclusive signup bonus offer to our audience you’ll get the equivalent cash value of a stock valued at $25 up to $4,500 Canadian when you make an initial deposit to your account.

So What if I Still Have Questions Concerning How Safe Is Wealthsimple?

If this article hasn’t answered all of your questions, and you’re searching for more info relating to How Safe Is Wealthsimple, visit the Wealthsimple website for answers to each your questions.