Wealthsimple Review 2022: $25 Wealthsimple

What is Wealthsimple?

Wealthsimple is an easy to use Canadian digital Financial, securities and crypto trading app that differentiates itself from other apps by charging no fees. 

A fintech business launched in the Fall 2014 originally as a robo-advisor algorithmic automated trading app named Wealthsimple Invest, it has changed substantially over the previous eight years to feature Wealthsimple Trade, a no fee discount brokerage service.

Does Wealthsimple Trade Charge Any Type of Fees?

Wealthsimple Trade allows investors to trade both stand alone stocks and also ETFs without needing to pay commissions. The exception is when you’re trading securities that are listed in USD. In this case, they charge a small currency conversion fee both when buying and selling. However, gone are the times of having to pay more than $7 per trade with discount brokerages as was the case just a few years ago.

How Much Cash do I Need to Have in Order to Begin Investing With Wealthsimple Trade?

Wealthsimple is awesome in that they will allow investors to make a minimum deposit of only $1. The majority of alternative banks and brokerages have sizeable initial deposit amounts of 1K-$5000. This makes it tough for the common investor to get started. With Wealthsimple Trade, one doesn’t have to already be wealthy to get started with trading stocks and ETFs.

Does Wealthsimple Trade Have RRSP Accounts?

They do. Wealthsimple Trade has both CRA registered and non-registered account types. One are free to select both RRSP and TFSA account types in the setup phase. 

But Does Wealthsimple Trade Offer a Mobile App?

Yes, Wealthsimple Trade has a easy to use mobile app offered to download on both iOS and Android. The smartphone app makes the enrollment steps and also trading of stocks and ETFs incredibly painless.

Is Wealthsimple Trade Secure?

Yes. Wealthsimple Trade is legit. Wealthsimple has more than 15 billion CAD of Assets Under Management . These folks have been operating for more than 7 years and also right now employs over 600 people. The controlling shareholder is the respected publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade is the very first no-fees digital brokerage to operate in Canada.

So How Does One Fund a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it so straight forward to add funds to a new account. Just connect the app to a chequing or savings account with your Trade account, and then add funds to your account in just a couple of clicks. Deposits from your bank to Wealthsimple usually take just a couple of days. Funds can the same way can be withdrawn your chequing or savings accounts with the exact same steps.

Which Additional Benefits and Products Does Wealthsimple Offer?

Wealthsimple Cash – An equivalent to Interac e-transfers which allow anyone to quickly and simply send cash to friends and family in Canada.

Wealthsimple Tax – Everything you’ll need to get ready for tax season and file your taxes online for free. It’s described as simple, accurate and always totally free income tax filing.

Wealthsimple Spend – A hybrid pre paid visa and savings product that allows one to get 1% cashback on your spending, as well as get a very competitive 1.5% interest rate on savings.

Personal Finance 101 – This is Wealthsimple’s free personal finance platform that offers a ton of courses on saving, investments, crypto, mortgages and much more. 

Each of the above products, along with Wealthsimple Trade can be found in the mobile app and from the website with your Wealthsimple login.

How Should I Begin With Wealthsimple Trade?

Click here to create a Wealthsimple Trade account. As an exclusive signup bonus offer to our audience you will receive the equivalent cash value of a random stock worth $25 up to $4,500 Canadian when you add funds to your account.

But What if I Still Have Additional Questions About $25 Wealthsimple?

If this article didn’t given you the answers to all of your questions, and you’re still browsing for more info relating to $25 Wealthsimple, go to the Wealthsimple site to find answers to all your questions.