Wealthsimple Review 2022: Buying Crypto On Wealthsimple Reddit

What is Wealthsimple?

Wealthsimple is a convenient and easy to use Canadian digital Financial, stock plus crypto trading platform that distinguishes itself from the competition by charging absolutely no fees. 

A Toronto, Ontario based online financial services business founded in the Autumn 2014 originally as a robo-advisor algorithmic automated trading platform named Wealthsimple Invest, it has grown significantly over the previous 8 years to also include Wealthsimple Trade, a no fee discount brokerage platform.

Does Wealthsimple Trade Charge Its Users Fees?

Wealthsimple Trade lets Canadian consumers to trade individual stocks and ETFs without having to pay commissions. The exception is when you’re trading stocks which are denominated in USD. In which case, they charge a small currency conversion fee both when buying and selling. But, behind us are the days of paying $7-12 per trade with discount brokerages as was expected only a few years past.

How Much Money do I Need to Have in Order to Get Started on Wealthsimple Trade?

Wealthsimple is unique in that they allow Canadian investors to make a minimum deposit of just $1. Most traditional banks and discount brokerages have large min deposit amounts of $1,000-5K. This makes it tough for the common new investor to start. With Wealthsimple Trade, one doesn’t have to be wealthy to get started with trading stocks and ETFs.

So Does Wealthsimple Trade Offer RRSP Accounts?

Yes. Wealthsimple Trade has available registered and non-CRA-registered accounts. One are free to choose between both RRSP and TFSA account types in the setup process. 

Does Wealthsimple Trade Have a Mobile App?

Yes, Wealthsimple Trade offers a well designed mobile app that is offered on Apple and Google Play. The mobile app makes the signup steps and also the trading of stocks and ETFs super simple.

Is Wealthsimple Trade Legit?

Definitely. Wealthsimple Trade is safe. Wealthsimple has in excess of 15 billion Canadian of Assets Under Management . This company has been expanding for more than 7 years and also employs over 600 Canadians. The primary shareholder is the public Canadian entity Power Corp of Canada. Weapthsimple Trade is the very first no-fee digital brokerage to operate in Canada.

So How Does One Add Funds to a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it quite simple to fund a new account. Just connect the app to a chequing or savings account with your Trade account, and then add money to your account in simply a few clicks. Deposits from banks to Wealthsimple typically take only a few days. Funds can also be withdrawn your chequing or savings account by using the same method.

Which Other Benefits and Products Does Wealthsimple Offer?

Wealthsimple Cash – This is alternative to Interac e-transfers that allows anyone to quickly and simply transfer money to friends and family in Canada.

Wealthsimple Tax – Everything you’ll need to prepare for tax year and submit your tax return online free. It’s pitched to be easy, accurate and always totally free income tax filing.

Wealthsimple Spend – A combination pre paid debit card and savings account which lets you to recieve 1% cashback on all your everyday spending, as well as earn a very competitive 1.5% interest rate on savings.

Personal Finance 101 – This is Wealthsimple’s free personal finance platform which offers a bunch of courses on topics like saving, investments, crypto, home buying and more. 

Every one of the mentioned products, including Wealthsimple Trade may be accessed inside the mobile app and at the website with a single login.

How do I Start With Wealthsimple Trade?

Click here to signup for a new Wealthsimple Trade account. As a special registration bonus to our audience you’ll receive the equivalent cash value of a random share valued at $25 up to $4,500 Canadian when you make an initial deposit to your account.

But What if I Still Have Questions Concerning Buying Crypto On Wealthsimple Reddit?

If this blog post didn’t given you the answers to each of your questions, and you’re searching for additional info about Buying Crypto On Wealthsimple Reddit, go to the Wealthsimple site to find answers to every one of your questions.