Wealthsimple Review 2022: Is Wealthsimple Crypto A Wallet

What is Wealthsimple?

Wealthsimple is a simple to use Canadian web based investing, stock and crypto trading app that differentiates itself from the competition by charging no fees. 

A Toronto, Ontario based online financial services company launched in Autumn of 2014 originally as a robo-advisor automated trading platform named Wealthsimple Invest, it has improved substantially over the last eight years to also include Wealthsimple Trade, a zero fee discount brokerage service.

Does Wealthsimple Trade Charge Any Type of Fees?

Wealthsimple Trade allows consumers to trade both single stocks and also ETFs without having to pay any commissions. The exception is when you’re trading stocks and ETFs which are displayed in US Dollars. In which case, they do charge a nominal currency conversion fee when buying and selling. But, gone are the days of paying more than $7 per each trade with discount brokerages as was the norm just a couple years past.

Exactly How Much in Funds do I Need in Order to Begin Investing With Wealthsimple Trade?

Wealthsimple is unique such that they will allow new customers to make a minimum deposit of just $1. Many traditional banks and discount brokerages have sizeable initial deposit amounts of $1,000-$5000. This makes it difficult for the common new investor to get started. With Wealthsimple Trade, you won’t need to already be wealthy to begin trading stocks and ETFs.

But Does Wealthsimple Trade Offer TFSA Accounts?

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

So Does Wealthsimple Trade Offer a Mobile App?

Yes, Wealthsimple Trade has a well designed mobile app that is available on both Apple and also Android. The app makes the enrollment steps and the trading of stocks and ETFs truly simple.

So Is Wealthsimple Trade Safe?

Definitely. Wealthsimple Trade is secure. Wealthsimple has over 15 billion CAD in Assets Under Management . they’ve been in business for more than 7 years and also now employs over 600 Canadians. The majority owner is the large publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the very first no-fees online brokerage operating in Canada.

But How Do I Add Funds to a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it so simple to deposit 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 just a couple of steps. Deposits from banks to Wealthsimple usually take just a few days. Funds can also be moved to your chequing or savings account by using the exact same process.

Which Other Benefits and Products Are Offered by Wealthsimple?

Wealthsimple Cash – This is alternative to Interac E-transfers which allow you to quickly and simply transfer money to friends and family in Canada.

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

Wealthsimple Spend – A combination pre paid visa and savings account which lets you to recieve 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 includes a ton of different online courses on saving, investments, crypto, home buying and much more. 

All of the above products, along with Wealthsimple Trade may be found on the mobile app or from the website with your Wealthsimple login.

But How Should I Start Using Wealthsimple Trade?

Click here to setup a new Wealthsimple Trade account. As an exclusive signup bonus for our audience you’ll receive the cash value of a Canadian stock worth $25 up to $4,500 Canadian when you add funds to your account.

So What if I Still Have Questions Concerning Is Wealthsimple Crypto A Wallet?

If this review still hasn’t given you the answers to all of your questions, and you’re searching for more specific info relating to Is Wealthsimple Crypto A Wallet, check out the Wealthsimple site to find answers to every one of your questions.