How To Invest With Wealthsimple

What Exactly is Wealthsimple?

Wealthsimple is an easy to use Canadian digital investing, securities and crypto trading app that sets itself apart from its competitors by charging absolutely no fees. 

A leading Canadian online financial services business founded in Fall of twenty fourteen originally as a robo advisor automated trading platform named Wealthsimple Invest, it has grown significantly over the past 8 years to feature Wealthsimple Trade, a no fee discount brokerage app.

Does Wealthsimple Trade Charge Any Fees?

Wealthsimple Trade lets consumers to trade both single stocks and ETFs without paying any fees. The exception to this is when trading stocks that are listed in US Dollars. In this case, they do charge a small currency conversion fee when buying and selling. However, past us are the days of paying Upwards of $7 for each trade with discount brokerages as was common only a few years ago.

How Much Money Will I Need to Have in Order to Get Started on Wealthsimple Trade?

Wealthsimple is cool such that they allow Canadians to make a minimum deposit of just $1. Many alternative banks and discount brokerages have large min deposit amounts of $1,000-5K. This makes it tough for the every day new investor to get started. With Wealthsimple Trade, you don’t need to be wealthy to start trading stocks and ETFs.

But Does Wealthsimple Trade Offer Registered Accounts?

Of course. Wealthsimple Trade offers both CRA registered and non-CRA-registered accounts. You are free to select both RRSP and TFSA account types in the setup wizard. 

So Does Wealthsimple Trade Have a Mobile Application?

Yes, Wealthsimple Trade has a convenient mobile app that is offered on IOS and Google Play. The mobile app makes the enrollment phase and also the trading of stocks and ETFs incredibly a breeze.

Is Wealthsimple Trade Legit?

Definitely. Wealthsimple Trade is secure. Wealthsimple reports over 15 billion Canadian of Assets Under Management (AUM). This company has been doing business for more than 7 years and also employs roughly 600 Canadians. The controlling shareholder is the admired public Canadian entity Power Corp of Canada. Weapthsimple Trade was the first no-fee digital brokerage operating in Canada.

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

The Wealthsimple Trade mobile app makes it incredibly easy to add funds to a new account. Just connect the app to a chequing or savings account with your Trade account, then add money to your account in just a couple of clicks. Deposits from financial institutions to Wealthsimple normally take a few days. Funds can also be moved to your chequing or savings account through the same process.

Which Other Benefits and Products Are Offered by Wealthsimple?

Wealthsimple Cash – An equivalent to e-Transfers that allows one to quickly and efficiently transfer money to friends and family in Canada.

Wealthsimple Tax – Everything you require to get ready for this tax season and file your taxes online free. It’s described as easy, accurate and always free tax return filing.

Wealthsimple Spend – A hybrid prepaid visa and savings account which allows you to get 1% cashback on all your everyday purchases, and also get a very competitive 1.5% interest rate on savings.

Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform that includes a ton of courses on topics like saving, investing, crypto, real estate and much more. 

Each of the mentioned products, along with Wealthsimple Trade can be found inside the app or at their website with your Wealthsimple login.

But How do I Begin With Wealthsimple Trade?

Click here to create a new Wealthsimple Trade account. For a special registration bonus to our audience you will get the cash value of a Canadian stock worth up to $4,500 CAD when you deposit to your account.

So What if I Still Have Additional Questions Related to How To Invest With Wealthsimple?

If this review didn’t given you the answers to all of your questions, and you’re still searching for additional specific information relating to How To Invest With Wealthsimple, visit the Wealthsimple website for answers to each your questions.