Should I use Wealthsimple? – [Answer] 2022


The Conclusion. If you’re comfortable investing online and want a simple, low-cost way to do it that doesn’t need much personal participation or stock knowledge, Wealthsimple is an excellent option.

Wealthsimple Review u0026 RESULTS After 1 year |Robo Investor Financial Trading Platform |2018 2019

Wealthsimple Trade App Pros and Cons (Honest Review) 

Can Wealthsimple be trusted?

Like the big banks, Wealthsimple is secure since assets on Invest and Trade accounts are safeguarded by ShareOwner Inc., a CIPF member and regulated by IIROC. If Wealthsimple and ShareOwner declare bankruptcy, accounts are CIPF protected up to $1 million per account since assets are kept by a CIPE member.

Why Wealthsimple trade is bad?

Wealthsimple trade is a relatively new service, and it’s quite basic that it lacks certain important features that most traders are looking for. It doesn’t provide much information about equities, no analysis tools, no means to automatically buy or sell stocks, and you can only trade on Canadian and U.S. exchanges.

What are the cons of Wealthsimple?

Wealthsimple Invest’s MER is higher than that of many of its rivals. The Management Expense Ratio at Wealthsimple Invest is greater than the average among competitors. Delayed deposit times: Funds from an outside bank account may take up to three business days to deposit into a Wealthsimple account.

Do people make money with Wealthsimple?

When its clients trade US equities, Wealthsimple profits from the exchange rate. They charge you a 1.5% currency conversion fee when you trade American stocks with Wealthsimple.

Is Wealthsimple a TFSA?

Open a TFSA, deposit money, and hopefully watch your funds grow. One of the finest features of the TFSA is its flexibility in terms of when you can withdraw your cash. Create a customized investment portfolio for you with just five minutes on Wealthsimple.

Is Wealthsimple commission free?

The Wealthsimple Trade platform gives you direct access to the Canadian and US stock markets. You get commission-free trades, as well as the opportunity to trade with a variety of ETFs and financial assets.

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