Wealthsimple Review 2022: Income Tax Calculator Wealthsimple

What is Wealthsimple?

Wealthsimple is a simple to use Canadian web based Financial, securities plus crypto trading web app that sets itself apart from similar apps by charging absolutely no fees. 

A Toronto, Ontario based online financial services company founded in the Autumn twenty fourteen exclusively as a robo-advisor algorithmic trading app named Wealthsimple Invest, it has grown considerably over the past eight years to also feature Wealthsimple Trade, a zero fee discount brokerage service.

Does Wealthsimple Trade Charge Any Kind of Fees?

Wealthsimple Trade allows Canadian consumers trade both single stocks and ETFs without having to pay any fees. The exception to this is when trading securities which are denominated in US Dollars. In that case, they will charge a nominal currency conversion fee when buying and selling. But, gone are the times of having to pay $7-12 per each trade with discount brokerages as was expected a few years ago.

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

Wealthsimple is unique such that they will allow Canadians to make a minimum deposit of only $1. The majority of alternative banks and discount brokerages have sizeable minimum deposit amounts of 1K-$5000. This makes it difficult for the typical investor to start investing. With Wealthsimple Trade, you won’t have to already be wealthy to get started with trading stocks and ETFs.

So Does Wealthsimple Trade Have Registered Accounts?

Of course. Wealthsimple Trade offers both registered and non-CRA-registered accounts. One may choose between both RRSP and TFSA accounts during the setup wizard. 

But Does Wealthsimple Trade Offer a Mobile App?

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

But Is Wealthsimple Trade Safe?

Yes. Wealthsimple Trade is safe. Wealthsimple boasts in excess of 15 billion CAD in Assets Under Management (AUM). These folks have been expanding for more than 7 years and also at this time employs roughly 600 folks. The controlling shareholder is the admired public Canadian company Power Corp of Canada. Weapthsimple Trade is the first no-fees online brokerage to operate in Canada.

How Do I Fund a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it quite simple to add funds to your new account. Simply connect to a chequing or savings account to your Trade account, then add funds to your account in only a couple of steps. Deposits from banks to Wealthsimple typically take only a few days. Funds can just as easily be moved to your chequing or savings account by the exact same method.

Which Other Benefits and Products Does Wealthsimple Offer?

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

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

Wealthsimple Spend – A combination prepaid debit card and savings product that lets one to earn 1% cashback on your spending, and also get a competitive 1.5% interest on savings.

Personal Finance 101 – Wealthsimple’s free personal finance learning platform which offers a ton of different courses on different topics such as saving, investments, crypto, home buying and more. 

Each of the listed products, including Wealthsimple Trade may be accessed on the mobile app and at the website with your Wealthsimple login.

But How Should I Start Using Wealthsimple Trade?

Click here to register for your Wealthsimple Trade account. As an exclusive signup bonus for our readers you’ll receive the equivalent cash value of a Canadian stock valued at up to $4,500 Canadian when you deposit to your account.

So What if I Still Have Questions Concerning Income Tax Calculator Wealthsimple?

If this article hasn’t answered each of your questions, and you’re still looking for additional specific information relating to Income Tax Calculator Wealthsimple, check out the Wealthsimple site for answers to all your questions.