However, with the currency conversion fee, I’d actually end up paying $1,268.75.Furthermore, if I chose to sell my new shares right away, I’d only receive $1,231.75 CAD. When they sign up, you get $10,000 managed for free for 12 months for each person that funds their account.Your referrals also get free management of up to $10,000 for one year.Wealthsimple Inc. is a registered portfolio manager in all of Canada and they offer investment products via ShareOwner which is a member of the Investment Industry Regulatory Organization of Canada (IIROC).Clients of Wealthsimple are protected by the Canadian Investor Protection Fund (CIPF) up to $1 million if the firm becomes insolvent.The company is backed by several well regarded financial institutions including Allianz X and Power Financial.These are answers to some of the more common Wealthsimple FAQs:Wealthsimple is Canada’s most popular robo-advisor. 20. This is definitely a plus, especially considering their target demographic is young investors and people who are just beginning to build their savings.There is no fee for closing an account with Wealthsimple Trade. Wealthsimple will reimburse transfer fees if you transfer more than $5,000 to your Wealthsimple account. In many cases you will be charged a “transfer out” fee (ask if the receiving institution will cover these fees). Administration fee 1. Currently, it says I've received my transfer fee refund but on my available to trade section it says my funds are still in the negative. $100 setup + $50 / year after first year. There are no fees for buying and selling stocks and ETFs on the Wealthsimple Trade platform. There is just the industry-standard $35 Wealthsimple Trade’s currency conversion fee is one of the most important things to consider before opening an account with them. You will also receive our FREE e-Book! Even stranger, market orders sometimes take a full minute to fill, when One possible explanation is that because Wealthsimple Trade routes orders exclusively through the NYSE, TSX, NASDAQ, and TSXV, Questrade is able to find better prices on another exchange, likes BATS.Wealthsimple Trade uses the same encryption technology as other online banks and brokerages. Wealthsimple Trade Fees. Each time you buy or sell an American stock or ETF, there is a 1.5% currency conversion fee. Account transfer in: NO FEE: Account transfer out (full or partial) $150.00 per transfer: Account closure fee: NO FEE: Certificate deposit 9: $100.00: Certificate withdrawal 8 Regular delivery - min. Furthermore, if a stock is cross-listed you will only be able to trade the Canadian-listed version.