Wealthsimple Review 2022: 2022 Wealthsimple Tax Calculator

What is Wealthsimple?

Wealthsimple is a convenient and easy to use Canadian web based investing, stocks plus crypto trading web app that distinguishes itself from similar apps by charging no fees. 

A leading Canadian fintech company founded in Fall twenty fourteen exclusively as a robo-advisor trading platform called Wealthsimple Invest, it has changed substantially over the previous eight years to also feature Wealthsimple Trade, a no fee discount brokerage platform.

Does Wealthsimple Trade Charge Its Users Fees?

Wealthsimple Trade allows Canadian consumers to trade single stocks and also ETFs without paying fees. The exception to this is when you’re trading ETFs and stocks which are denominated in US Dollars. In this case, they will charge a small currency conversion fee when buying and selling. But, past us are the times of having to pay $7-12 per each trade with online discount brokerages as was normal just a few years past.

How Much in Funds do I Need to Have in Order to Begin Investing on Wealthsimple Trade?

Wealthsimple is unique in that they allow new customers to make a minimum deposit of just $1. Many traditional banks and discount brokerages have sizeable minimum deposit amounts of $1000-5K. This makes it hard for the everyday investor to start investing. With Wealthsimple Trade, you won’t have to be wealthy to get started with trading stocks and ETFs.

But Does Wealthsimple Trade Offer Registered Accounts?

Yes. Wealthsimple Trade has both CRA registered and non-registered account types. You are able to choose both RRSP and TFSA accounts in the setup phase. 

Does Wealthsimple Trade Have a Mobile Application?

Yes, Wealthsimple Trade has a well designed mobile app available on both IOS and also Android. The app makes the signup process and also the trading of stocks and ETFs very simple.

Is Wealthsimple Trade Secure?

Yes. Wealthsimple Trade is secure. Wealthsimple reports more than 15 billion Canadian of Assets Under Management (AUM). These folks have been expanding for more than 7 years and employs roughly 600 Canadians. The main owner is the respected public Canadian entity Power Corp of Canada. Weapthsimple Trade was the very first no-fees online discount brokerage to operate in Canada.

How Can I Deposit to a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it simple to deposit to an account. Simply connect to a chequing or savings account to your Trade account, and then fund your account in only a few steps. Deposits from banks to Wealthsimple typically take only a couple of days. Funds can also be withdrawn a chequing or savings account by the same steps.

Which Additional Benefits and Products Are Offered by Wealthsimple?

Wealthsimple Cash – An equivalent to Interac E-Transfers which allows you to quickly and simply send cash to friends and family in Canada.

Wealthsimple Tax – Everything you’ll need to get ready for this tax year and submit your taxes online for free. It’s advertised to be simple, accurate and always free tax filing.

Wealthsimple Spend – A hybrid pre paid debit card and savings account that lets you to get 1% cashback on all your everyday purchases, as well as get a very competitive 1.5% interest rate on savings.

Personal Finance 101 – Wealthsimple’s free personal finance education platform that offers a bunch of different courses on saving, investing, crypto, mortgages and more. 

Every one of the listed products, including Wealthsimple Trade can be found on the app and at their website with your Wealthsimple login.

How do I Begin With Wealthsimple Trade?

Click here to create a new Wealthsimple Trade account. As a special signup bonus offer to our readers you’ll receive the equivalent cash value of a stock worth $25 up to $4,500 Canadian once you fund your account.

So What if I Still Have Additional Questions Related to 2022 Wealthsimple Tax Calculator?

If this review didn’t given you the answers to all of your questions, and you’re still looking for additional answers about 2022 Wealthsimple Tax Calculator, check out the Wealthsimple website for answers to each your questions.