Wealthsimple Review 2022: Gold 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 no fees. 

A Toronto, Ontario based online financial services company founded in Autumn of 2014 originally as a robo-advisor automated trading app named Wealthsimple Invest, it has evolved significantly over the past 8 years to include Wealthsimple Trade, a no fees discount brokerage platform.

Does Wealthsimple Trade Charge Fees?

Wealthsimple Trade lets consumers trade both stand alone stocks and ETFs without paying commissions. The exception to this is when you’re trading stocks and ETFs that are listed in USD currency. In which case, they do charge a currency conversion fee when buying and selling. However, behind us are the times of having to pay Upwards of $7 per trade with digital discount brokerages as was the case just a few years past.

Exactly How Much in Funds Will I Need to Have in Order to Begin Investing on Wealthsimple Trade?

Wealthsimple is special in that they will allow new customers to make a minimum deposit of only $1. The majority of alternative banks and discount brokerages have large min deposit amounts of 1k-$5000. This makes it tough for the normal new investor to get started. With Wealthsimple Trade, one doesn’t have to be wealthy to get started with trading stocks and ETFs.

Does Wealthsimple Trade Offer Registered Accounts?

They do. Wealthsimple Trade offers both CRA registered and non-registered accounts. One are able to choose both RRSP and TFSA account types during the setup phase. 

Does Wealthsimple Trade Offer a Mobile Application?

Yes, Wealthsimple Trade offers a modern mobile app that is offered on iOS and Google Play. The app makes the signup process and also the trading of stocks and ETFs very painless.

But Is Wealthsimple Trade Trustworthy?

. Wealthsimple Trade is secure. Wealthsimple reports more than 15 billion CAD of Assets Under Management (AUM). This company has been doing business for more than 7 years and also currently employs about 600 people. The controlling shareholder is the large public Canadian company Power Corp of Canada. Weapthsimple Trade is the first no-fees digital brokerage operating in Canada.

How Do I Add Money to a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it simple to add funds to your new account. Just connect to a chequing or savings account with your Trade account, then fund your account in only a few steps. Deposits from banks to Wealthsimple typically take only a few days. Funds can also be withdrawn a chequing or savings account with the exact same process.

What Other Features and Products Are Offered by Wealthsimple?

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

Wealthsimple Tax – Everything you’ll need to get ready for tax season and submit your taxes online free. It’s described to be simple, accurate and always totally free tax filing.

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

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

All of the listed products, along with Wealthsimple Trade can be accessed within the app and on their site with one login.

But How Can I Start With Wealthsimple Trade?

Click here to create your Wealthsimple Trade account. As a special signup bonus offer for our audience you’ll get the cash value of a random share valued at $25 up to $4,500 CAD as soon as you add funds to your account.

What if I Still Have Additional Questions About Gold Wealthsimple?

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