Wealthsimple Investors

What Exactly is Wealthsimple?

Wealthsimple is a convenient and easy to use Canadian digital Financial, securities and crypto trading platform that distinguishes itself from the competition by charging no fees. 

A leading Canadian online financial services company launched in Autumn of 2014 originally as a robo-advisor algorithmic trading app called Wealthsimple Invest, it has improved considerably over the previous eight years to feature Wealthsimple Trade, a zero fee discount brokerage platform.

Does Wealthsimple Trade Charge Any Type of Fees?

Wealthsimple Trade allows Canadian consumers to trade both stand alone stocks and ETFs without having to pay any commissions. The exception to this is when you’re trading ETFs and stocks that are displayed in USD. In which case, they do charge a nominal currency conversion fee both when buying and selling. However, past us are the times of having to pay Upwards of $7 for each trade with digital discount brokerages as was the norm just a few years past.

How Much in Funds do I Need in Order to Get Started on Wealthsimple Trade?

Wealthsimple is cool such that they allow Canadians to make a minimum deposit of only $1. The majority of alternative banks and discount brokerages have large minimum deposit amounts of $1000-5K. This makes it tough for the normal investor to start investing. With Wealthsimple Trade, you won’t need to already be wealthy to get started with trading stocks and ETFs.

So Does Wealthsimple Trade Have RRSP Accounts?

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

So Does Wealthsimple Trade Offer a Mobile Application?

Yes, Wealthsimple Trade has a well designed mobile app available to download on both IOS and Android. The app makes the registration process and the trading of stocks and ETFs super easy.

Is Wealthsimple Trade Trustworthy?

For sure. Wealthsimple Trade is trustworthy. Wealthsimple boasts more than 15 billion CAD of Assets Under Management . These folks have been operating for more than 7 years and employs about 600 folks. The primary owner is the publicly traded Canadian entity Power Corp of Canada. Weapthsimple Trade is the very first no-fees digital discount brokerage to operate in Canada.

How Can I Fund a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it very easy to add money to a new account. Simply connect a chequing or savings account to your Trade account, and add funds to your account in only a couple of steps. Deposits from financial institutions to Wealthsimple usually take just a few days. Funds can just as easily be moved back to your chequing or savings accounts by the exact same method.

Which Additional Benefits and Products Are Offered by Wealthsimple?

Wealthsimple Cash – This is alternative to Interac E-transfers which allow you to quickly and simply transfer money to friends and family in Canada.

Wealthsimple Tax – Everything you need to get ready for tax year and submit your taxes online free. It’s pitched as simple, accurate and always totally free tax return filing.

Wealthsimple Spend – A combination pre paid debit card and savings account which lets one to get 1% cashback on your spending, as well as get a competitive 1.5% interest on savings.

Personal Finance 101 – This is Wealthsimple’s free personal finance education platform that offers a bunch of courses on topics like saving, investments, crypto, home buying and more. 

Each of the above products, along with Wealthsimple Trade can be found within the app or from the website with a single login.

But How do I Start Using Wealthsimple Trade?

Click here to register for a Wealthsimple Trade account. For a special signup bonus for our readers you’ll get the cash value of a Canadian stock worth up to $4,500 Canadian when you deposit to your account.

What if I Still Have Questions Concerning Wealthsimple Investors?

If this article didn’t answered each of your questions, and you’re still searching for more specific information about Wealthsimple Investors, visit the Wealthsimple site for answers to each your questions.