Wealthsimple Review 2022: Fractional Trading Wealthsimple

What is Wealthsimple?

Wealthsimple is a convenient and easy to use Canadian digital investing, stocks plus crypto trading platform that sets itself apart from the competition by charging absolutely no fees. 

A fintech company launched in the Autumn 2014 originally as a robo advisor algorithmic automated trading platform called Wealthsimple Invest, it has improved significantly over the last eight years to also feature Wealthsimple Trade, a no fees discount brokerage platform.

Does Wealthsimple Trade Charge Any Type of Fees?

Wealthsimple Trade allows Canadian consumers trade single stocks and ETFs without paying any commissions. The exception to this is when you’re trading ETFs and stocks which are displayed in USD. In this case, they do charge a currency conversion fee both when buying and selling. But, behind us are the times of having to pay $7-12 per each trade with online discount brokerages as was common a few years past.

Exactly How Much Cash do I Need to Have to Start Investing on Wealthsimple Trade?

Wealthsimple is awesome in that they will allow Canadian investors to make a minimum deposit of just $1. The majority of alternative banks and discount brokerages have quite large minimum deposit amounts of 1K-$5000. This makes it impossible for the normal new investor to get started. With Wealthsimple Trade, you won’t have to be wealthy to begin trading stocks and ETFs.

So Does Wealthsimple Trade Offer RRSP Accounts?

Yes. Wealthsimple Trade has available both registered and non-CRA-registered accounts. One may select between both RRSP and TFSA accounts in the setup process. 

But Does Wealthsimple Trade Offer a Mobile App?

Yes, Wealthsimple Trade offers a well designed mobile app offered on iOS and Google Play. The smartphone app makes the enrollment steps and trading of stocks and ETFs simple.

But Is Wealthsimple Trade Safe?

For sure. Wealthsimple Trade is safe. Wealthsimple boasts more than 15 billion Canadian of Assets Under Management . They have been doing business for more than 7 years and also at this time employs more than 600 Canadians. The main shareholder is the publicly traded Canadian entity Power Corp of Canada. Weapthsimple Trade was the first no-fee digital brokerage to operate in Canada.

But How Do I Fund a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it simple to add funds to your account. Just connect the app to a chequing or savings account to your Trade account, and then add funds to your account in simply a few clicks. Deposits from your bank to Wealthsimple typically take a few days. Funds can also be withdrawn a chequing or savings account with the exact same process.

What Additional Benefits and Products Are Offered by Wealthsimple?

Wealthsimple Cash – An alternative to Interac E-Transfers which allows you to quickly and efficiently send money to friends and family in Canada.

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

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

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

Every one of the above features, along with Wealthsimple Trade may be found on the app or at the website with one login.

So How do I Start With Wealthsimple Trade?

Click here to signup for your Wealthsimple Trade account. As an exclusive registration bonus for our audience you will get the equivalent cash value of a stock worth $25 up to $4,500 Canadian once you add funds to your account.

So What if I Still Have Additional Questions Related to Fractional Trading Wealthsimple?

If this review still hasn’t answered all of your questions, and you’re still browsing for additional information about Fractional Trading Wealthsimple, visit the Wealthsimple website to get answers to every one of your questions.