Wealthsimple Review 2022: Available Crypto In Wealthsimple

What Exactly is Wealthsimple?

Wealthsimple is an easy to use Canadian digital Financial, securities and crypto trading app that distinguishes itself from its competitors by charging absolutely no fees. 

A Toronto, Ontario based fintech company launched in Fall 2014 originally as a robo advisor algorithmic trading platform called Wealthsimple Invest, it has improved substantially over the past eight years to include Wealthsimple Trade, a no fees discount brokerage service.

Does Wealthsimple Trade Charge Any Type of Fees?

Wealthsimple Trade allows consumers to trade stand alone stocks and also ETFs without paying commissions. The exception to this is when you’re trading securities that are denominated in US Dollars. In this case, they do charge a small currency conversion fee both when buying and selling. However, behind us are the times of having to pay $7-12 for each trade with digital discount brokerages as was expected just a couple years past.

How Much in Funds do I Need to Start Investing With Wealthsimple Trade?

Wealthsimple is cool in that they will allow new customers to make a minimum deposit of only $1. Many traditional banks and brokerages have large min deposit amounts of $1000-$5,000. This makes it hard for the normal investor to start investing. With Wealthsimple Trade, one doesn’t need to be wealthy to get started with trading stocks and ETFs.

Does Wealthsimple Trade Have Registered Accounts?

They do. Wealthsimple Trade has both CRA registered and non-CRA-registered accounts. You are able to choose between both RRSP and TFSA account types during the setup wizard. 

But Does Wealthsimple Trade Have a Mobile Application?

Yes, Wealthsimple Trade has a convenient mobile app available on both IOS and Google Play. The mobile app makes the registration process and also trading of stocks and ETFs super a breeze.

So Is Wealthsimple Trade Safe?

. Wealthsimple Trade is safe. Wealthsimple boasts more than 15 billion CAD of Assets Under Management (AUM). They have been doing business for more than 7 years and also right now employs more than 600 folks. The main owner is the respected public Canadian company Power Corp of Canada. Weapthsimple Trade is the very first no-fees digital brokerage to operate in Canada.

How Can I Add Money to a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it very simple to deposit to a new account. Just connect to a chequing or savings account with your Trade account, and add money to your account in just a few steps. Deposits from your bank to Wealthsimple normally take a few days. Funds can just as easily be moved back to a chequing or savings accounts by using the same process.

What Other Features and Products Are Available?

Wealthsimple Cash – This is alternative to Interac E-transfers which allow one to quickly and easily transfer cash to friends and family in Canada.

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

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

Personal Finance 101 – This is Wealthsimple’s free personal finance platform that offers a variety of different online courses on different topics such as saving, investments, crypto, home buying and more. 

Every one of the listed features, along with Wealthsimple Trade may be found inside the mobile app and on their website with your Wealthsimple login.

But How do I Start With Wealthsimple Trade?

Click here to create a new Wealthsimple Trade account. As an exclusive registration bonus offer to our audience you will get the equivalent cash value of a share worth up to $4,500 Canadian when you make an initial deposit to your account.

But What if I Still Have Additional Questions About Available Crypto In Wealthsimple?

If this review still hasn’t given you the answers to all of your questions, and you’re browsing for more info about Available Crypto In Wealthsimple, check out the Wealthsimple website for answers to every one of your questions.