Wealthsimple Review 2022: Best Penny Stocks On Wealthsimple

What Exactly is Wealthsimple?

Wealthsimple is an easy to use Canadian digital investing, stock and crypto trading web app that distinguishes itself from similar apps by charging no fees. 

A Toronto, Ontario based online financial services company founded in the Fall of twenty fourteen exclusively as a robo advisor algorithmic trading app named Wealthsimple Invest, it has evolved substantially over the last eight years to also include Wealthsimple Trade, a no fee discount brokerage service.

Does Wealthsimple Trade Charge Any Fees?

Wealthsimple Trade lets Canadian investors to trade single stocks and ETFs without paying any fees. The exception to this is when you’re trading stocks that are displayed in USD currency. In which case, they will charge a currency conversion fee both when buying and selling. But, past us are the days of having to pay $7-12 for each trade with discount brokerages as was normal a few years ago.

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

Wealthsimple is awesome such that they will allow Canadians to make a minimum deposit of only $1. The majority of traditional banks and brokerages have quite large min deposit amounts of 1K-5k. This makes it impossible for the normal investor to start investing. With Wealthsimple Trade, you won’t have to already be wealthy to start trading stocks and ETFs.

So Does Wealthsimple Trade Offer Registered Accounts?

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

Does Wealthsimple Trade Have a Mobile Application?

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

But Is Wealthsimple Trade Legit?

. Wealthsimple Trade is trustworthy. Wealthsimple has in excess of 15 billion Canadian in Assets Under Management . they’ve been in business for more than 7 years and now employs over 600 Canadians. The majority owner is the respected public Canadian company Power Corp of Canada. Weapthsimple Trade was the very first no-fee online brokerage operating in Canada.

But How Can I Fund a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it incredibly simple to deposit to an account. Simply connect the app to 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 usually take only a few days. Funds can just as easily be moved back to your chequing or savings accounts with the exact same process.

What Additional Benefits and Products Does Wealthsimple Offer?

Wealthsimple Cash – This is alternative to Interac E-Transfers that allows you to quickly and efficiently transfer cash to friends and family in Canada.

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

Wealthsimple Spend – A hybrid prepaid visa and savings account that lets you to get 1% cashback on your everyday spending, as well as get a very competitive 1.5% interest rate on savings.

Personal Finance 101 – Wealthsimple’s free personal finance learning platform which offers a ton of different courses on topics like saving, investing, crypto, real estate and much more. 

Each of the above products, including Wealthsimple Trade can be found on the app and at the site with one login.

But How do I Get Started Using Wealthsimple Trade?

Click here to signup for a new Wealthsimple Trade account. As an exclusive signup bonus to our audience you will get the cash value of a random Canadian stock worth $25 up to $4,500 CAD when you fund your account.

But What if I Still Have Questions Related to Best Penny Stocks On Wealthsimple?

If this review still hasn’t given you the answers to all of your questions, and you’re searching for more info relating to Best Penny Stocks On Wealthsimple, check out the Wealthsimple site to find answers to all your questions.