Wealthsimple Review 2022: 10 Cent Stocks On Wealthsimple

What is Wealthsimple?

Wealthsimple is a simple to use Canadian digital investing, stocks plus crypto trading web app that differentiates itself from other apps by charging no fees. 

A Toronto, Ontario based online financial services company launched in Autumn 2014 exclusively as a robo advisor algorithmic automated trading platform called Wealthsimple Invest, it has improved significantly over the previous eight years to also feature Wealthsimple Trade, a zero fee discount brokerage app.

Does Wealthsimple Trade Charge Any Type of Fees?

Wealthsimple Trade allows consumers trade individual stocks and ETFs without having to pay fees. The exception to this is when trading stocks that are displayed in US Dollars. In which case, they will charge a currency conversion fee when buying and selling. But, past us are the times of having to pay more than $7 per trade with digital discount brokerages as was normal just a few years ago.

How Much Cash Will I Need to Have to Get Started With Wealthsimple Trade?

Wealthsimple is cool such that they will allow investors to make a minimum deposit of only $1. The majority of alternative banks and brokerages have quite large initial deposit amounts of 1k-$5000. This makes it impossible for the everyday investor to start. With Wealthsimple Trade, you won’t have to already be wealthy to begin trading stocks and ETFs.

So Does Wealthsimple Trade Offer TFSA Accounts?

It does. Wealthsimple Trade has available both registered and non-registered accounts. One are free to select both RRSP and TFSA account types in the setup process. 

But Does Wealthsimple Trade Offer a Mobile App?

Yes, Wealthsimple Trade has a easy to use mobile app that is offered to download on both IOS and Android. The app makes the signup steps and trading of stocks and ETFs super easy.

But Is Wealthsimple Trade Secure?

Of course. Wealthsimple Trade is safe. Wealthsimple boasts more than 15 billion Canadian of Assets Under Management (AUM). These folks have been operating for more than 7 years and employs about 600 people. The majority shareholder is the respected public Canadian entity Power Corp of Canada. Weapthsimple Trade is the first no-fee online discount brokerage operating in Canada.

How Do I Add Money to a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it so simple to add money to an account. Just connect the app to a chequing or savings account to your Trade account, and add money to your account in just a couple of steps. Deposits from banks to Wealthsimple normally take a couple of days. Funds can also be moved back to a chequing or savings accounts using the exact same steps.

Which Additional Benefits and Products Are Offered by Wealthsimple?

Wealthsimple Cash – This is alternative to Interac e-Transfers that allows anyone to quickly and easily send money to friends and family in Canada.

Wealthsimple Tax – Everything you require to prepare for this tax season and file your tax return online free. It’s advertised to be simple, accurate and always free tax return filing.

Wealthsimple Spend – A hybrid prepaid visa and savings account which allows one to earn 1% cashback on your purchases, and also get a competitive 1.5% interest rate on savings.

Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform which offers a bunch of online courses on different topics such as saving, investments, crypto, real estate and more. 

All of the listed features, including Wealthsimple Trade can be found in the app or on the website with one login.

But How do I Get Started With Wealthsimple Trade?

Click here to signup for a Wealthsimple Trade account. As a special registration bonus to our audience you will receive the equivalent cash value of a Canadian stock worth up to $4,500 Canadian when you fund your account.

What if I Still Have Additional Questions About 10 Cent Stocks On Wealthsimple?

If this review hasn’t given you the answers to each of your questions, and you’re still looking for more info relating to 10 Cent Stocks On Wealthsimple, check out the Wealthsimple website for answers to all your questions.