Wealthsimple Review 2022: Invest Wealthsimple

What Exactly is Wealthsimple?

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

A leading Canadian online financial services company launched in Fall of twenty fourteen exclusively as a robo-advisor automated trading platform named Wealthsimple Invest, it has grown considerably over the past eight years to also feature Wealthsimple Trade, a no fee discount brokerage app.

Does Wealthsimple Trade Charge Any Fees?

Wealthsimple Trade lets consumers trade stand alone stocks and ETFs without needing to pay any fees. The exception is when you’re trading ETFs and stocks that are displayed in USD currency. In which case, they charge a small currency conversion fee both when buying and selling. But, behind us are the days of paying more than $7 per each trade with discount brokerages as was common a couple years past.

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

Wealthsimple is cool in that they allow new customers to make a minimum deposit of only $1. Most alternative banks and discount brokerages have large minimum deposit amounts of $1,000-$5,000. This makes it hard for the everyday new investor to start. With Wealthsimple Trade, you won’t have to be wealthy to get started with trading stocks and ETFs.

Does Wealthsimple Trade Offer Registered Accounts?

Of course. Wealthsimple Trade has both registered and non-CRA-registered accounts. One can select between both RRSP and TFSA account types in the setup phase. 

So Does Wealthsimple Trade Offer a Mobile Application?

Yes, Wealthsimple Trade has a well designed mobile app offered to download on both IOS and also Android. The app makes the registration process and trading of stocks and ETFs very a breeze.

Is Wealthsimple Trade Legit?

. Wealthsimple Trade is legit. Wealthsimple has over 15 billion CAD of Assets Under Management . This company has been doing business for more than 7 years and employs over 600 Canadians. The main owner is the respected public Canadian company Power Corp of Canada. Weapthsimple Trade is the very first no-fee digital discount brokerage to operate in Canada.

How Does One Add Money to a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it quite straight forward to fund an account. Just connect a chequing or savings account to your Trade account, and then add money to your account in simply a few steps. Deposits from your bank to Wealthsimple usually take only a couple of days. Funds can also be moved back to a chequing or savings account by the same process.

Which Additional Benefits and Products Are Offered by Wealthsimple?

Wealthsimple Cash – This is equivalent to Interac e-Transfers which allow one to quickly and efficiently send cash to friends and family in Canada.

Wealthsimple Tax – Everything you need to get ready for tax year and file your tax return online for free. It’s advertised to be simple, accurate and always totally free tax return filing.

Wealthsimple Spend – A hybrid pre paid visa and savings account that allows one to recieve 1% cashback on all your everyday purchases, as well as get a competitive 1.5% interest on savings.

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

Every one of the listed products, along with Wealthsimple Trade may be found inside the mobile app or on their site with a single login.

How do I Get Started With Wealthsimple Trade?

Click here to create a new Wealthsimple Trade account. For an exclusive registration bonus offer for our audience you will receive the cash value of a share worth $25 up to $4,500 CAD once you make an initial deposit to your account.

So What if I Still Have Questions Related to Invest Wealthsimple?

If this article didn’t given you the answers to each of your questions, and you’re browsing for more specific facts about Invest Wealthsimple, visit the Wealthsimple website to find answers to every one of your questions.