Wealthsimple Review 2022: Layoffs Wealthsimple

What Exactly is Wealthsimple?

Wealthsimple is a convenient and easy to use Canadian online Financial, stocks and crypto trading web app that distinguishes itself from similar apps by charging absolutely no fees. 

A leading Canadian online financial services company founded in Autumn twenty fourteen originally as a robo advisor algorithmic trading app called Wealthsimple Invest, it has changed substantially over the previous 8 years to also feature Wealthsimple Trade, a zero fees discount brokerage service.

Does Wealthsimple Trade Charge Any Type of Fees?

Wealthsimple Trade lets Canadian investors trade single stocks and also ETFs without having to pay commissions. The exception to this is when you’re trading ETFs and stocks that are denominated in USD currency. In that case, they will charge a small currency conversion fee when buying and selling. But, past us are the days of having to pay more than $7 per trade with discount brokerages as was common only a couple years past.

How Much in Funds do I Need to Have in Order to Start With Wealthsimple Trade?

Wealthsimple is unique in that they will allow new customers to make a minimum deposit of only $1. Many alternative banks and brokerages have quite large min deposit amounts of $1,000-$5,000. This makes it tough for the normal investor to get started. With Wealthsimple Trade, you won’t need to already be wealthy to get started with trading stocks and ETFs.

So Does Wealthsimple Trade Offer Registered Accounts?

Of course. Wealthsimple Trade has both CRA registered and non-registered accounts. You may select between both RRSP and TFSA accounts during the setup phase. 

Does Wealthsimple Trade Have a Mobile App?

Yes, Wealthsimple Trade has a convenient mobile app that is available to download on both Apple and also Android. The mobile app makes the signup process and also the trading of stocks and ETFs truly a breeze.

Is Wealthsimple Trade Secure?

Definitely. Wealthsimple Trade is safe. Wealthsimple reports more than 15 billion CAD in Assets Under Management (AUM). they’ve been operating for more than 7 years and also employs about 600 people. The majority owner is the large public Canadian entity Power Corp of Canada. Weapthsimple Trade is the first no-fee digital discount brokerage operating in Canada.

How Can I Add Money to a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it quite simple to add funds to your new account. Simply connect to a chequing or savings account to your Trade account, and then add money to your account in only a couple of steps. Deposits from financial institutions to Wealthsimple normally take a couple of days. Funds can also be withdrawn your chequing or savings account using the exact same method.

What Other Benefits and Products Are Available?

Wealthsimple Cash – This is equivalent to Interac E-transfers which allows anyone to quickly and efficiently transfer money to friends and family in Canada.

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

Wealthsimple Spend – A combination pre paid debit card and savings account that lets you to recieve 1% cashback on your spending, as well as earn a very competitive 1.5% interest on savings.

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

Every one of the mentioned products, including Wealthsimple Trade may be found within the app or at their site with one login.

But How Should I Start Using Wealthsimple Trade?

Click here to signup for a Wealthsimple Trade account. For an exclusive registration bonus for our audience you’ll get the equivalent cash value of a share valued at up to $4,500 CAD as soon as you make an initial deposit to your account.

But What if I Still Have Additional Questions About Layoffs Wealthsimple?

If this blog post hasn’t answered all of your questions, and you’re still looking for further specific facts about Layoffs Wealthsimple, go to the Wealthsimple site to get answers to each your questions.