Wealthsimple Review 2022: Joint Tfsa Wealthsimple

What Exactly is Wealthsimple?

Wealthsimple is a convenient and easy to use Canadian online investing, securities and crypto trading web app that differentiates itself from the competition by charging no fees. 

A Toronto, Ontario based online financial services company founded in the Autumn 2014 originally as a robo advisor automated trading app named Wealthsimple Invest, it has evolved considerably over the last eight years to include Wealthsimple Trade, a zero fees discount brokerage app.

Does Wealthsimple Trade Charge Any Kind of Fees?

Wealthsimple Trade lets Canadian investors to trade both single stocks and ETFs without needing to pay any commissions. The exception to this is when trading stocks and ETFs that are displayed in USD. In this case, they charge a currency conversion fee when buying and selling. But, past us are the days of paying more than $7 per each trade with online discount brokerages as was expected just a couple years ago.

How Much Money Will I Need in Order to Get Started With Wealthsimple Trade?

Wealthsimple is cool such that they will allow new customers to make a minimum deposit of only $1. Most traditional banks and discount brokerages have large initial deposit amounts of $1,000-5K. This makes it difficult for the normal new investor to start investing. With Wealthsimple Trade, you don’t have to be wealthy to get started with trading stocks and ETFs.

Does Wealthsimple Trade Offer TFSA Accounts?

It does. Wealthsimple Trade offers CRA registered and non-CRA-registered accounts. You are able to choose between both RRSP and TFSA account types in the setup process. 

So Does Wealthsimple Trade Have a Mobile App?

Yes, Wealthsimple Trade offers a modern mobile app that is available to download on both iOS and Android. The app makes the registration steps and also the trading of stocks and ETFs super simple.

But Is Wealthsimple Trade Secure?

. Wealthsimple Trade is safe. Wealthsimple boasts in excess of 15 billion Canadian of Assets Under Management . These folks have been doing business for more than 7 years and also currently employs more than 600 people. The primary shareholder is the large public Canadian company Power Corp of Canada. Weapthsimple Trade was the very first no-fee online discount brokerage to operate in Canada.

But How Does One Deposit to a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it so easy to add funds to a new account. Just connect to a chequing or savings account to your Trade account, and then add funds to your account in simply a few clicks. Deposits from financial institutions to Wealthsimple typically take just a couple of days. Funds can just as easily be withdrawn your chequing or savings account by the exact same method.

Which Additional Benefits and Products Does Wealthsimple Offer?

Wealthsimple Cash – An alternative to Interac E-Transfers that allow one to quickly and easily transfer money to friends and family in Canada.

Wealthsimple Tax – Everything you need to prepare for this tax season and submit your taxes online free. It’s pitched to be easy, accurate and always totally free tax filing.

Wealthsimple Spend – A combination pre paid visa and savings account that lets one to get 1% cashback on all your everyday spending, and also earn a competitive 1.5% interest rate on savings.

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

Each of the above features, along with Wealthsimple Trade may be found within the mobile app and at the website with a single login.

How Should I Get Started Using Wealthsimple Trade?

Click here to create a new Wealthsimple Trade account. As an exclusive signup bonus offer to our audience you’ll get the equivalent cash value of a share valued at up to $4,500 CAD when you make an initial deposit to your account.

What if I Still Have Questions About Joint Tfsa Wealthsimple?

If this blog post still hasn’t given you the answers to all of your questions, and you’re still browsing for more specific facts relating to Joint Tfsa Wealthsimple, check out the Wealthsimple website to find answers to each your questions.