Wealthsimple Review 2022: Is Wealthsimple Good Reddit

What is Wealthsimple?

Wealthsimple is an easy to use Canadian online investing, securities and crypto trading app that differentiates itself from its competitors by charging no fees. 

A Toronto, Ontario based fintech business founded in Autumn 2014 originally as a robo-advisor algorithmic trading platform named Wealthsimple Invest, it has grown considerably over the last 8 years to feature Wealthsimple Trade, a no fees discount brokerage platform.

Does Wealthsimple Trade Charge Any Type of Fees?

Wealthsimple Trade lets investors to trade individual stocks and also ETFs without needing to pay any fees. The exception is when you’re trading stocks and ETFs which are displayed in US Dollars. In this case, they will charge a small currency conversion fee both when buying and selling. But, past us are the times of having to pay Upwards of $7 per trade with digital discount brokerages as was the case just a few years past.

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

Wealthsimple is unique in that they will allow Canadian investors to make a minimum deposit of only $1. The majority of alternative banks and brokerages have quite large min deposit amounts of $1000-$5000. This makes it impossible for the every day investor to start investing. 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 CRA registered and non-registered accounts. You are able to choose both RRSP and TFSA accounts during the setup wizard. 

So Does Wealthsimple Trade Have a Mobile Application?

Yes, Wealthsimple Trade has a modern mobile app that is available on Apple and also Android. The smartphone app makes the signup phase and also trading of stocks and ETFs incredibly simple.

Is Wealthsimple Trade Legit?

For sure. Wealthsimple Trade is safe. Wealthsimple boasts in excess of 15 billion Canadian in Assets Under Management (AUM). they’ve been expanding for more than 7 years and also now employs about 600 folks. The controlling owner is the public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the very first no-fees digital discount brokerage to operate in Canada.

So How Do I Deposit to a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it so easy to add funds to your new account. Just connect a chequing or savings account to your Trade account, then add funds to your account in just a few steps. Deposits from banks to Wealthsimple usually take just a few days. Funds can just as easily be moved back to your chequing or savings accounts by the exact same steps.

What Other Features and Products Are Offered by Wealthsimple?

Wealthsimple Cash – This is equivalent to E-transfers that allows one to quickly and simply send cash to friends and family in Canada.

Wealthsimple Tax – Everything you’ll require to get ready for tax season and file your tax return online for free. It’s advertised as simple, accurate and always totally free tax filing.

Wealthsimple Spend – A combination prepaid visa and savings product that lets one to get 1% cashback on all your spending, as well as earn a very competitive 1.5% interest on savings.

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

Each of the above features, including Wealthsimple Trade may be accessed in the mobile app and at the site with your Wealthsimple login.

But How Can I Begin Using Wealthsimple Trade?

Click here to create your Wealthsimple Trade account. For an exclusive registration bonus offer for our readers you’ll get the cash value of a random stock worth up to $4,500 CAD as soon as you add funds to your account.

But What if I Still Have Additional Questions Related to Is Wealthsimple Good Reddit?

If this blog post still hasn’t answered all of your questions, and you’re looking for more facts relating to Is Wealthsimple Good Reddit, check out the Wealthsimple website to get answers to each your questions.