Wealthsimple Review 2022: External Wallet Wealthsimple

What Exactly is Wealthsimple?

Wealthsimple is a convenient and easy to use Canadian web based Financial, stocks plus crypto trading platform that distinguishes itself from its competitors by charging absolutely no fees. 

A leading Canadian fintech company launched in Fall twenty fourteen originally as a robo-advisor automated trading app called Wealthsimple Invest, it has evolved considerably over the past 8 years to feature Wealthsimple Trade, a no fees discount brokerage app.

Does Wealthsimple Trade Charge Any Kind of Fees?

Wealthsimple Trade allows Canadian consumers to trade stand alone stocks and also ETFs without having to pay any commissions. The exception is when trading securities that are denominated in USD currency. In which case, they do charge a small currency conversion fee when buying and selling. But, gone are the times of having to pay $7-12 for each trade with digital discount brokerages as was expected just a couple years ago.

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

Wealthsimple is cool in that they allow new customers to make a minimum deposit of only $1. The majority of traditional banks and brokerages have sizeable initial deposit amounts of 1K-$5,000. This makes it impossible for the everyday investor to start investing. With Wealthsimple Trade, you won’t have to already be wealthy to begin trading stocks and ETFs.

So Does Wealthsimple Trade Offer RRSP Accounts?

Of course. Wealthsimple Trade has registered and non-CRA-registered account types. You can choose between both RRSP and TFSA account types during the setup process. 

So Does Wealthsimple Trade Offer a Mobile Application?

Yes, Wealthsimple Trade has a convenient mobile app available on IOS and Google Play. The mobile app makes the signup phase and the trading of stocks and ETFs very simple.

Is Wealthsimple Trade Legit?

Yes. Wealthsimple Trade is safe. Wealthsimple reports over 15 billion CAD in Assets Under Management (AUM). they’ve been in business for more than 7 years and currently employs about 600 people. The primary shareholder is the large public Canadian entity Power Corp of Canada. Weapthsimple Trade is the very first no-fees online brokerage to operate in Canada.

So How Can I Fund a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it so straight forward to deposit to your account. Simply connect to a chequing or savings account with your Trade account, and fund your account in simply a few steps. Deposits from your bank to Wealthsimple typically take only a few days. Funds can just as easily be withdrawn a chequing or savings accounts with the exact same method.

Which Additional Benefits and Products Are Available?

Wealthsimple Cash – An equivalent to Interac e-transfers that allows one to quickly and efficiently transfer money to friends and family in Canada.

Wealthsimple Tax – Everything you’ll require to prepare for this tax year and file your tax return online free. It’s described to be easy, accurate and always free tax return filing.

Wealthsimple Spend – A hybrid pre paid visa and savings account which lets you to recieve 1% cashback on all your purchases, as well as get a competitive 1.5% interest rate on savings.

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

All of the mentioned features, along with Wealthsimple Trade can be accessed in the mobile app or at the website with one login.

But How Can I Get Started Using Wealthsimple Trade?

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

So What if I Still Have Additional Questions About External Wallet Wealthsimple?

If this review still hasn’t given you the answers to each of your questions, and you’re looking for further specific information about External Wallet Wealthsimple, go to the Wealthsimple website to get answers to all your questions.