Wealthsimple Review 2022: Jonathan Lau Wealthsimple

What Exactly is Wealthsimple?

Wealthsimple is an easy to use Canadian online Financial, stocks and crypto trading platform that differentiates itself from similar apps by charging absolutely no fees. 

A online financial services business founded in Fall of twenty fourteen exclusively as a robo-advisor automated trading app called Wealthsimple Invest, it has grown substantially over the last eight years to also feature Wealthsimple Trade, a zero fees discount brokerage platform.

Does Wealthsimple Trade Charge Any Kind of Fees?

Wealthsimple Trade lets investors trade both stand alone stocks and also ETFs without needing to pay commissions. The exception to this is when you’re trading stocks which are displayed in USD. In this case, they do charge a currency conversion fee when buying and selling. However, past us are the days of having to pay more than $7 per trade with digital discount brokerages as was expected just a couple years past.

Exactly How Much Cash do I Need to Start With Wealthsimple Trade?

Wealthsimple is awesome such that they will allow investors to make a minimum deposit of only $1. Many alternative banks and discount brokerages have large min deposit amounts of 1K-$5,000. This makes it hard for the common investor to start investing. With Wealthsimple Trade, you won’t need to be wealthy to begin trading stocks and ETFs.

But Does Wealthsimple Trade Have RRSP Accounts?

They do. Wealthsimple Trade has CRA registered and non-CRA-registered account types. One are free to select both RRSP and TFSA account types in the setup process. 

But Does Wealthsimple Trade Offer a Mobile Application?

Yes, Wealthsimple Trade has a modern mobile app that is available to download on iOS and Google Play. The smartphone app makes the registration steps and the trading of stocks and ETFs very painless.

But Is Wealthsimple Trade Legit?

For sure. Wealthsimple Trade is trustworthy. Wealthsimple reports more than 15 billion CAD of Assets Under Management (AUM). They have been doing business for more than 7 years and also at this time employs over 600 folks. The controlling shareholder is the large public Canadian corporation Power Corp of Canada. Weapthsimple Trade is the very first no-fee digital discount brokerage to operate in Canada.

But How Does One Deposit to a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it very straight forward to fund your new account. Just connect the app to a chequing or savings account to your Trade account, and then add funds to your account in only a couple of clicks. Deposits from banks to Wealthsimple typically take only a few days. Funds can also be moved back to a chequing or savings accounts using the same steps.

What Additional Benefits and Products Are Available?

Wealthsimple Cash – An alternative to e-Transfers that allows one to quickly and efficiently send cash to friends and family in Canada.

Wealthsimple Tax – Everything you need to prepare for this tax year and submit your tax return online free. It’s pitched as simple, accurate and always totally free income tax filing.

Wealthsimple Spend – A combination prepaid debit card and savings account that allows you to get 1% cashback on your spending, as well as earn a competitive 1.5% interest rate on savings.

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

Each of the mentioned features, along with Wealthsimple Trade can be accessed inside the app or from their site with a single login.

But How do I Start With Wealthsimple Trade?

Click here to setup a Wealthsimple Trade account. As a special registration bonus for our audience you will get the equivalent cash value of a random share worth $25 up to $4,500 CAD once you deposit to your account.

So What if I Still Have Additional Questions Concerning Jonathan Lau Wealthsimple?

If this article still hasn’t answered all of your questions, and you’re searching for further specific answers relating to Jonathan Lau Wealthsimple, go to the Wealthsimple site to find answers to every one of your questions.