Wealthsimple Review 2022: Average Wealthsimple Returns

What is Wealthsimple?

Wealthsimple is an easy to use Canadian online Financial, stock and crypto trading platform that differentiates itself from other apps by charging absolutely no fees. 

A fintech company founded in Fall 2014 originally as a robo advisor automated trading app named Wealthsimple Invest, it has evolved significantly over the past 8 years to also include Wealthsimple Trade, a no fees discount brokerage service.

Does Wealthsimple Trade Charge Fees?

Wealthsimple Trade allows investors to trade stand alone stocks and ETFs without needing to pay commissions. The exception to this is when trading securities that are displayed in USD. In this case, they charge a currency conversion fee when buying and selling. However, past us are the days of paying more than $7 per each trade with online discount brokerages as was the norm only a couple years past.

Exactly How Much Cash do I Need to Start on Wealthsimple Trade?

Wealthsimple is unique in that they will allow investors to make a minimum deposit of only $1. Many alternative banks and discount brokerages have large initial deposit amounts of $1000-$5,000. This makes it hard for the everyday new investor to start. With Wealthsimple Trade, you won’t have to already be wealthy to get started with trading stocks and ETFs.

So Does Wealthsimple Trade Offer Registered Accounts?

Of course. Wealthsimple Trade has CRA registered and non-registered accounts. One can choose between both RRSP and TFSA account types in the setup wizard. 

Does Wealthsimple Trade Have a Mobile Application?

Yes, Wealthsimple Trade offers a well designed mobile app offered on Apple and Google Play. The mobile app makes the enrollment phase and trading of stocks and ETFs a breeze.

So Is Wealthsimple Trade Legit?

Yes. Wealthsimple Trade is legit. Wealthsimple reports more than 15 billion Canadian in Assets Under Management . they’ve been operating for more than 7 years and also employs more than 600 folks. The main owner is the publicly traded Canadian entity Power Corp of Canada. Weapthsimple Trade was the first no-fees online brokerage to operate in Canada.

How Can I Add Funds to a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it so simple to add money to an account. Just connect a chequing or savings account to your Trade account, and fund your account in simply a couple of steps. Deposits from your bank to Wealthsimple typically take only a couple of days. Funds can the same way can be moved to your chequing or savings account by the same method.

Which Additional Benefits and Products Are Offered by Wealthsimple?

Wealthsimple Cash – An equivalent to E-transfers which allows one to quickly and efficiently transfer money to friends and family in Canada.

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

Wealthsimple Spend – A combination pre paid debit card and savings account which allows you to get 1% cashback on your everyday spending, and also get a competitive 1.5% interest rate on savings.

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

Every one of the mentioned products, along with Wealthsimple Trade can be accessed on the mobile app and at the site with a single login.

How Can I Get Started With Wealthsimple Trade?

Click here to signup for a Wealthsimple Trade account. For a special signup bonus offer for our audience you’ll receive the equivalent cash value of a random stock valued at $25 up to $4,500 Canadian when you fund your account.

So What if I Still Have Additional Questions About Average Wealthsimple Returns?

If this blog post still hasn’t given you the answers to each of your questions, and you’re still looking for further answers relating to Average Wealthsimple Returns, visit the Wealthsimple site for answers to each your questions.