Wealthsimple Save

What is Wealthsimple?

Wealthsimple is a simple to use Canadian online Financial, stocks plus crypto trading web app that differentiates itself from the competition by charging absolutely no fees. 

A leading Canadian fintech company founded in Fall twenty fourteen originally as a robo-advisor trading app named Wealthsimple Invest, it has evolved significantly over the past eight years to include Wealthsimple Trade, a zero fee discount brokerage platform.

Does Wealthsimple Trade Charge Any Kind of Fees?

Wealthsimple Trade allows Canadian investors to trade individual stocks and also ETFs without paying any commissions. The exception to this is when trading ETFs and stocks which are denominated in US Dollars. In this case, they will charge a nominal currency conversion fee when buying and selling. But, gone are the times of having to pay more than $7 per trade with digital discount brokerages as was common just a couple years ago.

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

Wealthsimple is special in that they allow Canadian investors to make a minimum deposit of just $1. The majority of alternative banks and discount brokerages have quite large minimum deposit amounts of 1k-5k. This makes it tough for the typical investor to get started. With Wealthsimple Trade, one doesn’t need to be wealthy to get started with trading stocks and ETFs.

But Does Wealthsimple Trade Have Registered Accounts?

It does. Wealthsimple Trade offers both registered and non-CRA-registered account types. One may select between both RRSP and TFSA account types during the setup wizard. 

So Does Wealthsimple Trade Have a Mobile App?

Yes, Wealthsimple Trade offers a convenient mobile app offered to download on both Apple and Android. The smartphone app makes the enrollment phase and the trading of stocks and ETFs super a breeze.

So Is Wealthsimple Trade Trustworthy?

Yes. Wealthsimple Trade is safe. Wealthsimple boasts in excess of 15 billion Canadian of Assets Under Management (AUM). This company has been in business for more than 7 years and at this time employs more than 600 people. The controlling shareholder is the public Canadian entity Power Corp of Canada. Weapthsimple Trade is the first no-fee online brokerage to operate in Canada.

But How Does One Fund a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it so simple to fund a new account. Just connect the app to a chequing or savings account to your Trade account, and add money to your account in simply a couple of clicks. Deposits from banks to Wealthsimple normally take only a few days. Funds can just as easily be moved to your chequing or savings account by the same process.

What Other Benefits and Products Does Wealthsimple Offer?

Wealthsimple Cash – An equivalent to Interac E-transfers that allows you to quickly and efficiently send cash to friends and family in Canada.

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

Wealthsimple Spend – A combination pre paid debit card and savings account which allows one to earn 1% cashback on your everyday spending, and also earn a very competitive 1.5% interest on savings.

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

All of the listed features, including Wealthsimple Trade can be found on the app and on the site with your Wealthsimple login.

How do I Begin With Wealthsimple Trade?

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

What if I Still Have Additional Questions Concerning Wealthsimple Save?

If this review hasn’t answered each of your questions, and you’re looking for additional facts relating to Wealthsimple Save, check out the Wealthsimple website to get answers to all your questions.