Wealthsimple Review 2022: Binance Vs Wealthsimple

What is Wealthsimple?

Wealthsimple is a simple to use Canadian web based investing, stocks and crypto trading platform that sets itself apart from its competitors by charging no fees. 

A Toronto, Ontario based fintech business founded in Fall twenty fourteen exclusively as a robo advisor trading app named Wealthsimple Invest, it has evolved considerably over the last 8 years to also include Wealthsimple Trade, a zero fee discount brokerage platform.

Does Wealthsimple Trade Charge Any Fees?

Wealthsimple Trade lets Canadian investors to trade both single stocks and also ETFs without having to pay fees. The exception is when you’re trading stocks which are denominated in USD currency. In which case, they will charge a small currency conversion fee when buying and selling. But, behind us are the days of having to pay Upwards of $7 per trade with discount brokerages as was common just a few years past.

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

Wealthsimple is special in that they allow new customers to make a minimum deposit of just $1. The majority of traditional banks and brokerages have quite large initial deposit amounts of $1,000-5k. This makes it impossible for the typical investor to start. With Wealthsimple Trade, one doesn’t need to be wealthy to begin trading stocks and ETFs.

But Does Wealthsimple Trade Have TFSA Accounts?

Of course. Wealthsimple Trade has CRA registered and non-CRA-registered account types. One are free to select both RRSP and TFSA accounts during the setup phase. 

But Does Wealthsimple Trade Offer a Mobile Application?

Yes, Wealthsimple Trade offers a easy to use mobile app that is available on both IOS and also Google Play. The app makes the enrollment steps and also the trading of stocks and ETFs super painless.

So Is Wealthsimple Trade Legit?

For sure. Wealthsimple Trade is secure. Wealthsimple has in excess of 15 billion CAD of Assets Under Management . This company has been in business for more than 7 years and also currently employs over 600 folks. The majority shareholder is the respected publicly traded Canadian entity Power Corp of Canada. Weapthsimple Trade is the very first no-fee digital discount brokerage operating in Canada.

How Does One Add Money to a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it so easy to deposit to your account. Just connect a chequing or savings account with your Trade account, and fund your account in only a few clicks. Deposits from your bank to Wealthsimple typically take just a few days. Funds can also be withdrawn your chequing or savings account by using the exact same steps.

What Other Benefits and Products Does Wealthsimple Offer?

Wealthsimple Cash – This is alternative to e-Transfers which allows you to quickly and simply transfer cash to friends and family in Canada.

Wealthsimple Tax – Everything you require to get ready for tax year and submit your taxes online free. It’s described to be simple, accurate and always totally free income tax filing.

Wealthsimple Spend – A combination prepaid debit card and savings product that allows you to get 1% cashback on all your everyday purchases, and also 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 online courses on saving, investing, crypto, home buying and much more. 

All of the listed features, including Wealthsimple Trade can be accessed on the mobile app or from the website with your Wealthsimple login.

So How Can I Begin With Wealthsimple Trade?

Click here to setup a new Wealthsimple Trade account. As an exclusive signup bonus offer for our readers you will get the cash value of a stock valued at $25 up to $4,500 Canadian when you fund your account.

So What if I Still Have Questions Concerning Binance Vs Wealthsimple?

If this blog post still hasn’t given you the answers to each of your questions, and you’re looking for further facts relating to Binance Vs Wealthsimple, visit the Wealthsimple site to find answers to every one of your questions.