Wealthsimple Review 2022: Is Wealthsimple Profitable

What is Wealthsimple?

Wealthsimple is an easy to use Canadian online Financial, stocks plus crypto trading platform that distinguishes itself from the competition by charging absolutely no fees. 

A fintech company launched in the Autumn of twenty fourteen originally as a robo-advisor automated trading platform named Wealthsimple Invest, it has grown significantly over the past eight years to include Wealthsimple Trade, a zero fee discount brokerage service.

Does Wealthsimple Trade Charge Any Type of Fees?

Wealthsimple Trade allows Canadian investors trade stand alone stocks and also ETFs without having to pay fees. The exception to this is when trading securities which are listed in USD. In this case, they will charge a small currency conversion fee when buying and selling. However, gone are the days of having to pay more than $7 per trade with discount brokerages as was normal a couple years past.

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

Wealthsimple is cool such that they allow investors to make a minimum deposit of only $1. The majority of alternative banks and brokerages have large initial deposit amounts of 1K-5k. This makes it tough for the normal investor to start. With Wealthsimple Trade, you don’t have to be wealthy to get started with trading stocks and ETFs.

But Does Wealthsimple Trade Have RRSP Accounts?

Of course. Wealthsimple Trade has registered and non-CRA-registered accounts. One are able to select between both RRSP and TFSA account types during the setup phase. 

So Does Wealthsimple Trade Offer a Mobile Application?

Yes, Wealthsimple Trade offers a convenient mobile app that is available to download on iOS and also Android. The app makes the signup phase and the trading of stocks and ETFs easy.

So Is Wealthsimple Trade Safe?

Yes. Wealthsimple Trade is legit. Wealthsimple has over 15 billion CAD in Assets Under Management . they’ve been expanding for more than 7 years and right now employs more than 600 Canadians. The majority shareholder is the publicly traded Canadian entity Power Corp of Canada. Weapthsimple Trade is the very first no-fees digital discount brokerage operating in Canada.

But How Do I Fund a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it easy to add money to an account. Just connect to a chequing or savings account with your Trade account, and then add funds to your account in simply a couple of steps. Deposits from financial institutions to Wealthsimple usually take a couple of days. Funds can the same way can be moved back to a chequing or savings accounts with the same method.

Which Other Benefits and Products Are Available?

Wealthsimple Cash – This is equivalent to e-Transfers that allow you to quickly and easily send money to friends and family in Canada.

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

Wealthsimple Spend – A combination pre paid debit card and savings product which allows one to earn 1% cashback on your everyday purchases, and also earn a very competitive 1.5% interest on savings.

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

Every one of the mentioned products, including Wealthsimple Trade may be accessed on the app or from the site with a single login.

So How do I Begin Using Wealthsimple Trade?

Click here to setup a Wealthsimple Trade account. As an exclusive registration bonus offer to our audience you’ll get the cash value of a random Canadian stock valued at up to $4,500 CAD once you deposit to your account.

So What if I Still Have Questions Concerning Is Wealthsimple Profitable?

If this blog post still hasn’t given you the answers to each of your questions, and you’re browsing for more information about Is Wealthsimple Profitable, visit the Wealthsimple website to get answers to every one of your questions.