Wealthsimple Review 2022: Dividend Stocks Wealthsimple

What Exactly is Wealthsimple?

Wealthsimple is an easy to use Canadian digital investing, securities plus crypto trading app that sets itself apart from its competitors by charging no fees. 

A leading Canadian fintech business launched in the Fall 2014 exclusively as a robo-advisor trading app named Wealthsimple Invest, it has improved considerably over the previous 8 years to also include Wealthsimple Trade, a no fee discount brokerage service.

Does Wealthsimple Trade Charge Fees?

Wealthsimple Trade lets consumers trade individual stocks and ETFs without paying commissions. The exception to this is when you’re trading securities that are denominated in USD. In which case, they charge a currency conversion fee both when buying and selling. But, gone are the days of having to pay more than $7 for each trade with discount brokerages as was the norm only a couple years ago.

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

Wealthsimple is cool such that they will allow Canadians to make a minimum deposit of just $1. Most traditional banks and brokerages have sizeable min deposit amounts of $1000-$5,000. This makes it tough for the common new investor to get started. With Wealthsimple Trade, one doesn’t need to already be wealthy to begin trading stocks and ETFs.

But Does Wealthsimple Trade Offer TFSA Accounts?

It does. Wealthsimple Trade offers both CRA registered and non-CRA-registered account types. You may choose both RRSP and TFSA accounts during the setup process. 

But Does Wealthsimple Trade Have a Mobile Application?

Yes, Wealthsimple Trade has a modern mobile app that is available to download on Apple and also Google Play. The mobile app makes the enrollment process and trading of stocks and ETFs painless.

But Is Wealthsimple Trade Legit?

Yes. Wealthsimple Trade is legit. Wealthsimple reports in excess of 15 billion CAD in Assets Under Management (AUM). They have been in business for more than 7 years and at this time employs about 600 people. The primary owner is the large publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade was the very first no-fees online discount brokerage to operate in Canada.

But How Do I Fund a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it incredibly simple to deposit to your account. Just connect to a chequing or savings account with your Trade account, then fund your account in only a few clicks. Deposits from your bank to Wealthsimple normally take just a few days. Funds can just as easily be withdrawn your chequing or savings account by using the exact same process.

What Other Features and Products Are Offered by Wealthsimple?

Wealthsimple Cash – An equivalent to E-Transfers which allows you to quickly and simply transfer cash to friends and family in Canada.

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

Wealthsimple Spend – A hybrid pre paid debit card and savings product that allows you to recieve 1% cashback on your everyday spending, and also earn a very competitive 1.5% interest on savings.

Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform that includes a variety of online courses on different topics such as saving, investments, crypto, home buying and more. 

Every one of the mentioned products, including Wealthsimple Trade may be found in the mobile app or at their site with your Wealthsimple login.

So How do I Begin Using Wealthsimple Trade?

Click here to register for your Wealthsimple Trade account. As an exclusive registration bonus for our audience you’ll get the cash value of a Canadian stock valued at up to $4,500 Canadian once you fund your account.

But What if I Still Have Additional Questions Related to Dividend Stocks Wealthsimple?

If this review didn’t answered all of your questions, and you’re still looking for more info relating to Dividend Stocks Wealthsimple, visit the Wealthsimple site to get answers to all your questions.