Is Wealthsimple actually good?

After extensive research for this Wealthsimple review, we find that Wealthsimple is the leading Canadian robo advisor in Canada. The combination of straightforward pricing, low fees on small accounts, excellent value on large accounts, overall usability, and the unique perks make it our top choice.

Is my money safe with Wealthsimple?

Wealthsimple’s affiliated custodial broker, Canadian ShareOwner Investments Inc. is a member of the the IIROC which ensures customer accounts are protected by the Canadian Investor Protection Fund. Now I know that was a lot of words, but long story short, your money is safe with Wealthsimple.

Can I trust Wealthsimple trade?

Is Wealthsimple Trade Safe? Wealthsimple Trade is a division of Canadian ShareOwner Investments Inc. which is a member of IIROC and the Canadian Investor Protection Fund (CIPF). Their membership with CIPF means that your funds are protected against insolvency up to $1,000,000.

What are the cons of Wealthsimple?

Cons: The Not So Good Stuff Higher MER than competitors: Wealthsimple Invest charges a bigger Management Expense Ratio than some of its competitors. Delayed deposit times: Depositing funds from an external bank account into a Wealthsimple account can take up to three business days.

Is Wealthsimple free?

Low account minimum and no extra fees: The $0 account minimum for the Wealthsimple Basic offering is a low hurdle to get started. That service includes free automated deposits, automatic rebalancing and dividend reinvestment.

Does Wealthsimple have monthly fees?

And while most bank accounts limit the number of transactions you can make—or charge you for that privilege with fees—Wealthsimple Cash allows unlimited transactions with no fees of any kind (that’s no monthly account fees, no exchange fees on foreign transactions and no transaction fees.)

Can you lose money on Wealthsimple?

If you are paying 1-2\% in fees, you could lose up to 40\% of your expected investment returns over time. Because fees are so consequential, you should make sure that you aren’t overpaying for the service you are getting. Managing your investments can take a little time or a long time.

Is Wealthsimple a TFSA?

You open a TFSA, deposit money and hopefully watch your money grow. One of the greatest features of the TFSA is their flexibility in terms of when you can withdraw your money. Open a Wealthsimple TFSA and in just five minutes we’ll create a personalized investment portfolio to meet your financial goals.

Does Wealthsimple have a US dollar account?

The platform is not set up for US accounts or trading, so instead every trade done is done in CAD at the exchange rate Wealthsimple sets.

Can you open a TFSA with Wealthsimple?

Is Wealthsimple worth the fees?

Wealthsimple offers a good fit for investors of all ages looking to save money and take the next step on the road to long-term financial security. The fees are slightly higher than average for the robo-advisory space, though the account minimum of $0 removes a hurdle for investors who are just starting out.

How can I invest with $100?

Our 6 best ways to invest $100 starting today

1. Start an emergency fund.
2. Use a micro-investing app or robo-advisor.
3. Invest in a stock index mutual fund or exchange-traded fund.
4. Use fractional shares to buy stocks.
5. Put it in your 401(k).
6. Open an IRA.

How many reviews do you have for Wealthsimple?

198 reviews matching your search. Reset filters. I’ve been using Wealthsimple for a few years now and they’ve been great.

What are the benefits of Wealthsimple?

The bottom line: With socially responsible investing (SRI) and halal-compliant portfolio options, along with various levels of financial advisor access, Wealthsimple offers something for everyone. Access to human advisors. Free portfolio analysis. Socially responsible investment options. No account minimum.

What is your review of wewealth simple?

Wealth Simple is a great opportunity to control your own investments, or have someone there handle your portfolio for you. I handle my own, and find that it is a great freedom. It is, also, a learning experience. They do not tell you where to, or where not to, invest.

What is the fee structure of Wealthsimple?

Wealthsimple has a very straightforward fee structure. US investors that put less than $100,000 into their Wealthsimple account will pay 0.5\% per year, and anyone who invests more than that pays 0.4\%. Investors who put more than $100,000 into their Wealthsimple accounts will also receive some nice perks, which were described above.