Wealthsimple Review 2022: Is My Wealthsimple Legit

What is Wealthsimple?

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

A leading Canadian fintech business launched in the Fall of twenty fourteen originally as a robo advisor trading app called Wealthsimple Invest, it has grown substantially over the past 8 years to also include Wealthsimple Trade, a no fees discount brokerage service.

Does Wealthsimple Trade Charge Any Fees?

Wealthsimple Trade lets consumers to trade both single stocks and also ETFs without needing to pay fees. The exception is when you’re trading securities which are listed in US Dollars. In this case, they do charge a currency conversion fee both when buying and selling. However, past us are the days of having to pay Upwards of $7 for each trade with discount brokerages as was normal just a few years ago.

Exactly How Much Money Will I Need to Have to Begin Investing With Wealthsimple Trade?

Wealthsimple is awesome in that they allow Canadian investors to make a minimum deposit of just $1. Most traditional banks and brokerages have sizeable min deposit amounts of $1000-5K. This makes it impossible for the normal investor to start. With Wealthsimple Trade, one doesn’t need to already be wealthy to start trading stocks and ETFs.

So Does Wealthsimple Trade Offer TFSA Accounts?

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

Does Wealthsimple Trade Have a Mobile Application?

Yes, Wealthsimple Trade has a convenient mobile app offered on IOS and also Google Play. The mobile app makes the signup steps and also trading of stocks and ETFs truly easy.

Is Wealthsimple Trade Trustworthy?

Of course. Wealthsimple Trade is legit. Wealthsimple boasts more than 15 billion CAD in Assets Under Management . These folks have been in business for more than 7 years and also employs more than 600 Canadians. The main shareholder is the large publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade was the first no-fees online discount brokerage operating in Canada.

How Does One Add Money to a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it so easy to add money to an account. Simply connect to a chequing or savings account to your Trade account, and add money to your account in simply a few clicks. Deposits from financial institutions to Wealthsimple usually take just a couple of days. Funds can just as easily be moved to a chequing or savings account by the exact same method.

What Other Features and Products Are Offered by Wealthsimple?

Wealthsimple Cash – This is equivalent to Interac E-transfers which allows one to quickly and simply transfer money to friends and family in Canada.

Wealthsimple Tax – Everything you’ll require to get ready for this tax year and file your taxes online for free. It’s advertised to be simple, accurate and always free tax filing.

Wealthsimple Spend – A hybrid prepaid debit card and savings product which allows one to recieve 1% cashback on all your spending, as well as get a competitive 1.5% interest rate on savings.

Personal Finance 101 – This is Wealthsimple’s free personal finance platform which offers a bunch of online courses on different topics such as saving, investing, crypto, home buying and more. 

All of the above products, including Wealthsimple Trade can be found inside the app and on their website with your Wealthsimple login.

So How do I Start Using Wealthsimple Trade?

Click here to signup for a new Wealthsimple Trade account. As an exclusive registration bonus for our readers you’ll get the cash value of a random share valued at up to $4,500 Canadian when you add funds to your account.

What if I Still Have Questions Concerning Is My Wealthsimple Legit?

If this blog post still hasn’t answered each of your questions, and you’re still looking for more info relating to Is My Wealthsimple Legit, visit the Wealthsimple site to get answers to all your questions.