Wealthsimple Review 2022: Kw X Wealthsimple

What Exactly is Wealthsimple?

Wealthsimple is a convenient and easy to use Canadian web based investing, securities plus crypto trading app that differentiates itself from its competitors by charging no fees. 

A leading Canadian fintech company founded in Autumn of 2014 originally as a robo advisor algorithmic trading platform named Wealthsimple Invest, it has grown considerably over the last 8 years to also include Wealthsimple Trade, a no fee discount brokerage platform.

Does Wealthsimple Trade Charge Any Fees?

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

Exactly How Much Money do I Need to Get Started on Wealthsimple Trade?

Wealthsimple is unique in that they allow investors to make a minimum deposit of only $1. Most traditional banks and discount brokerages have quite large minimum deposit amounts of $1,000-$5000. This makes it tough for the typical new 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?

It does. Wealthsimple Trade offers registered and non-registered account types. One are able to choose both RRSP and TFSA account types during the setup phase. 

Does Wealthsimple Trade Have a Mobile App?

Yes, Wealthsimple Trade offers a easy to use mobile app that is offered on both Apple and also Google Play. The app makes the registration steps and trading of stocks and ETFs super simple.

So Is Wealthsimple Trade Legit?

. Wealthsimple Trade is safe. Wealthsimple reports in excess of 15 billion Canadian in Assets Under Management (AUM). This company has been in business for more than 7 years and also employs over 600 people. The controlling owner is the large publicly traded Canadian entity Power Corp of Canada. Weapthsimple Trade is the very first no-fee online discount brokerage operating in Canada.

So How Do I Deposit to a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it quite straight forward to add funds to an account. Just connect to a chequing or savings account to your Trade account, and add money to your account in just a couple of steps. Deposits from your bank to Wealthsimple usually take a few days. Funds can the same way can be withdrawn a chequing or savings account by using the same method.

What Additional Benefits and Products Are Offered by Wealthsimple?

Wealthsimple Cash – An equivalent to e-Transfers that allows one to quickly and simply send money to friends and family in Canada.

Wealthsimple Tax – Everything you require to prepare for this tax season and file your taxes online for free. It’s advertised to be easy, accurate and always totally free income tax filing.

Wealthsimple Spend – A hybrid pre paid debit card and savings account that lets one to recieve 1% cashback on all your spending, and also get a competitive 1.5% interest rate on savings.

Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform which includes a ton of online courses on topics like saving, investing, crypto, mortgages and much more. 

Every one of the above features, including Wealthsimple Trade can be found in the app and on the site with a single login.

But How Can I Begin With Wealthsimple Trade?

Click here to signup for your Wealthsimple Trade account. As an exclusive signup bonus for our audience you will receive the equivalent cash value of a share worth up to $4,500 Canadian as soon as you make an initial deposit to your account.

What if I Still Have Questions About Kw X Wealthsimple?

If this article didn’t given you the answers to all of your questions, and you’re searching for more facts relating to Kw X Wealthsimple, check out the Wealthsimple site to find answers to every one of your questions.