Wealthsimple Review 2022: Is Wealthsimple Down

What is Wealthsimple?

Wealthsimple is a simple to use Canadian digital Financial, securities and crypto trading app that sets itself apart from the competition by charging absolutely no fees. 

A leading Canadian online financial services company founded in Autumn 2014 exclusively as a robo advisor algorithmic trading platform called Wealthsimple Invest, it has improved significantly over the last eight years to include Wealthsimple Trade, a no fees discount brokerage platform.

Does Wealthsimple Trade Charge Fees?

Wealthsimple Trade allows Canadian investors to trade both individual stocks and also ETFs without needing to pay any fees. The exception is when trading ETFs and stocks that are listed in US Dollars. In that case, they will charge a currency conversion fee when buying and selling. However, behind us are the times of paying Upwards of $7 per trade with digital discount brokerages as was the norm a few years ago.

Exactly How Much Money Will I Need to Get Started on Wealthsimple Trade?

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

Does Wealthsimple Trade Have Registered Accounts?

Of course. Wealthsimple Trade has available both CRA registered and non-CRA-registered accounts. One are free to choose both RRSP and TFSA account types in the setup process. 

So Does Wealthsimple Trade Offer a Mobile App?

Yes, Wealthsimple Trade has a well designed mobile app available on both Apple and also Android. The smartphone app makes the signup process and also trading of stocks and ETFs easy.

So Is Wealthsimple Trade Legit?

For sure. Wealthsimple Trade is secure. Wealthsimple reports more than 15 billion Canadian of Assets Under Management (AUM). they’ve been doing business for more than 7 years and also now employs roughly 600 Canadians. The controlling owner is the large publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade is the very first no-fees digital brokerage to operate in Canada.

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

The Wealthsimple Trade smartphone app makes it easy to fund your account. Simply connect to a chequing or savings account to your Trade account, then add money to your account in just a couple of steps. Deposits from banks to Wealthsimple usually take just a couple of days. Funds can also be moved to your chequing or savings accounts with the exact same steps.

Which Other Features and Products Does Wealthsimple Offer?

Wealthsimple Cash – This is equivalent to Interac E-transfers which allows you to quickly and efficiently send money to friends and family in Canada.

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

Wealthsimple Spend – A hybrid prepaid visa and savings account which allows you to recieve 1% cashback on your purchases, as well as get a very competitive 1.5% interest rate on savings.

Personal Finance 101 – Wealthsimple’s free personal finance learning platform that includes a ton of different courses on topics like saving, investing, crypto, real estate and much more. 

Every one of the mentioned products, along with Wealthsimple Trade may be found within the mobile app or at the website with your Wealthsimple login.

But How Should I Start With Wealthsimple Trade?

Click here to signup for your Wealthsimple Trade account. As an exclusive registration bonus offer to our readers you will get the equivalent cash value of a random stock worth up to $4,500 CAD once you add funds to your account.

What if I Still Have Additional Questions Concerning Is Wealthsimple Down?

If this review still hasn’t answered all of your questions, and you’re still browsing for further information relating to Is Wealthsimple Down, check out the Wealthsimple site to find answers to each your questions.