Wealthsimple Review 2022: Jeff Nichols Wealthsimple

What Exactly is Wealthsimple?

Wealthsimple is an easy to use Canadian online investing, stock plus crypto trading app that sets itself apart from other apps by charging no fees. 

A leading Canadian online financial services business founded in Fall twenty fourteen originally as a robo advisor trading platform named Wealthsimple Invest, it has evolved considerably over the previous eight years to feature Wealthsimple Trade, a no fees discount brokerage app.

Does Wealthsimple Trade Charge Fees?

Wealthsimple Trade lets Canadian investors trade both stand alone stocks and also ETFs without needing to pay fees. The exception to this is when you’re trading ETFs and stocks which are displayed in USD currency. In this case, they charge a currency conversion fee both when buying and selling. However, past us are the times of having to pay $7-12 for each trade with discount brokerages as was expected only a few years ago.

Exactly How Much Cash do I Need to Have to Get Started With Wealthsimple Trade?

Wealthsimple is awesome such that they will allow Canadian investors to make a minimum deposit of just $1. Many traditional banks and discount brokerages have quite large initial deposit amounts of $1000-$5000. This makes it hard for the common investor to start. With Wealthsimple Trade, one doesn’t have to be wealthy to begin trading stocks and ETFs.

But Does Wealthsimple Trade Offer RRSP Accounts?

Yes. Wealthsimple Trade has available CRA registered and non-CRA-registered accounts. One may select both RRSP and TFSA accounts during the setup process. 

But Does Wealthsimple Trade Have a Mobile App?

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

But Is Wealthsimple Trade Safe?

Definitely. Wealthsimple Trade is trustworthy. Wealthsimple has over 15 billion Canadian of Assets Under Management . These folks have been doing business for more than 7 years and also now employs more than 600 Canadians. The controlling owner is the publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade is the very first no-fee digital brokerage operating in Canada.

But How Does One Add Money to a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it easy to fund a new account. Simply connect the app to a chequing or savings account with your Trade account, and then add funds to your account in simply a couple of clicks. Deposits from banks to Wealthsimple normally take only a couple of days. Funds can the same way can be moved to your chequing or savings accounts by using the exact same steps.

Which Additional Features and Products Does Wealthsimple Offer?

Wealthsimple Cash – An equivalent to E-transfers which allow anyone to quickly and simply send cash to friends and family in Canada.

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

Wealthsimple Spend – A combination pre paid visa and savings account that lets you to earn 1% cashback on your everyday purchases, as well as get a competitive 1.5% interest rate on savings.

Personal Finance 101 – Wealthsimple’s free personal finance platform which offers a bunch of different online courses on topics like saving, investing, crypto, mortgages and much more. 

Every one of the mentioned products, along with Wealthsimple Trade can be accessed within the app and from the website with a single login.

How Should I Get Started With Wealthsimple Trade?

Click here to register for your Wealthsimple Trade account. As a special registration bonus offer to our audience you will get the cash value of a random share worth up to $4,500 Canadian once you add funds to your account.

But What if I Still Have Questions Concerning Jeff Nichols Wealthsimple?

If this blog post still hasn’t answered each of your questions, and you’re browsing for further information relating to Jeff Nichols Wealthsimple, go to the Wealthsimple website to find answers to every one of your questions.