Can I trust Wealthsimple?
The bottom line is that Wealthsimple is a very safe, secure and legitimate platform to invest your money with.
How much does Wealthsimple cost?
Wealthsimple's 0.50% management fee on account balances of less than $100,000 and 0.40% on accounts over $100,000 is higher than that charged by the other companies on NerdWallet's best robo-advisors list. In comparison, Wealthfront and Betterment charge a 0.25% management fee.
Is Wealthsimple good for beginners?
Which Stock Trading Site is Best for Beginners? Both first-time and seasoned investors will find the perfect combination of features and enjoy commission-free trading with Wealthsimple Trade. Investors who don't want to make trades can take a risk-free survey and get a customized portfolio with Wealthsimple Invest.
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.