Wealthsimple Review 2022: Cheapest Stocks On Wealthsimple

What Exactly is Wealthsimple?

Wealthsimple is a convenient and easy to use Canadian web based Financial, stock plus crypto trading app that distinguishes itself from similar apps by charging absolutely no fees. 

A leading Canadian online financial services business launched in the Fall of twenty fourteen originally as a robo-advisor trading app named Wealthsimple Invest, it has evolved substantially over the last 8 years to also feature Wealthsimple Trade, a zero fee discount brokerage platform.

Does Wealthsimple Trade Charge Its Users Fees?

Wealthsimple Trade lets consumers trade single stocks and also ETFs without needing to pay any commissions. The exception to this is when you’re trading ETFs and stocks that are denominated in US Dollars. In this case, they do charge a small currency conversion fee when buying and selling. But, gone are the days of paying $7-12 per each trade with online discount brokerages as was normal only a couple years ago.

Exactly How Much Cash Will I Need to Have in Order to Get Started on Wealthsimple Trade?

Wealthsimple is cool in that they will allow Canadian investors to make a minimum deposit of just $1. Most traditional banks and discount brokerages have sizeable minimum deposit amounts of 1K-5k. This makes it difficult for the everyday new investor to start. With Wealthsimple Trade, one doesn’t have to already be wealthy to start trading stocks and ETFs.

So Does Wealthsimple Trade Offer RRSP Accounts?

Yes. Wealthsimple Trade offers both registered and non-registered accounts. One can choose between both RRSP and TFSA accounts during the setup wizard. 

So Does Wealthsimple Trade Have a Mobile App?

Yes, Wealthsimple Trade offers a well designed mobile app available on both IOS and Google Play. The mobile app makes the registration phase and the trading of stocks and ETFs very easy.

But Is Wealthsimple Trade Trustworthy?

Yes. Wealthsimple Trade is legit. Wealthsimple has over 15 billion Canadian of Assets Under Management (AUM). This company has been doing business for more than 7 years and also employs roughly 600 Canadians. The primary shareholder is the respected public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the very first no-fee online discount brokerage to operate in Canada.

How Can I Add Money to a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it so simple to add money to your account. Just connect the app to a chequing or savings account to your Trade account, then add funds to your account in simply a few clicks. Deposits from banks to Wealthsimple usually take a couple of days. Funds can just as easily be moved to a chequing or savings accounts by the same steps.

What Additional Benefits and Products Does Wealthsimple Offer?

Wealthsimple Cash – An equivalent to Interac e-transfers which allows you to quickly and efficiently send money to friends and family in Canada.

Wealthsimple Tax – Everything you’ll need to get ready for this tax year and file your tax return online free. It’s advertised to be easy, accurate and always totally free tax return filing.

Wealthsimple Spend – A combination pre paid debit card and savings product that lets one to get 1% cashback on your everyday purchases, as well as earn a competitive 1.5% interest on savings.

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

Every one of the above features, along with Wealthsimple Trade may be found within the app and on the website with a single login.

But How Can I Get Started With Wealthsimple Trade?

Click here to register for a new Wealthsimple Trade account. For an exclusive registration bonus offer for our readers you’ll receive the equivalent cash value of a random share worth up to $4,500 Canadian once you fund your account.

So What if I Still Have Additional Questions Related to Cheapest Stocks On Wealthsimple?

If this review hasn’t given you the answers to all of your questions, and you’re still looking for more answers relating to Cheapest Stocks On Wealthsimple, go to the Wealthsimple website to find answers to each your questions.