Wealthsimple Review 2022: Linkedin Wealthsimple

What is Wealthsimple?

Wealthsimple is a simple to use Canadian digital investing, stock plus crypto trading app that distinguishes itself from its competitors by charging absolutely no fees. 

A fintech company founded in Fall twenty fourteen exclusively as a robo advisor algorithmic automated trading app named Wealthsimple Invest, it has improved significantly over the past eight years to also include Wealthsimple Trade, a zero fees discount brokerage platform.

Does Wealthsimple Trade Charge Fees?

Wealthsimple Trade allows consumers to trade individual stocks and ETFs without needing to pay any fees. The exception to this is when trading stocks which are listed in USD currency. In this case, they charge a currency conversion fee when buying and selling. But, gone are the days of having to pay $7-12 for each trade with discount brokerages as was expected just a few years past.

Exactly How Much Cash Will I Need in Order to Start on Wealthsimple Trade?

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

So Does Wealthsimple Trade Have Registered Accounts?

It does. Wealthsimple Trade has registered and non-registered account types. You may select between both RRSP and TFSA accounts in the setup wizard. 

Does Wealthsimple Trade Offer a Mobile App?

Yes, Wealthsimple Trade offers a modern mobile app offered on both IOS and Android. The app makes the registration process and the trading of stocks and ETFs very easy.

But Is Wealthsimple Trade Legit?

Most definitely. Wealthsimple Trade is secure. Wealthsimple boasts over 15 billion CAD of Assets Under Management (AUM). This company has been expanding for more than 7 years and also now employs roughly 600 people. The controlling shareholder is the large publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade was the very first no-fees online brokerage to operate in Canada.

But How Do I Deposit to a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it quite easy to add money to a new account. Simply connect the app to a chequing or savings account with your Trade account, and then fund your account in just a few steps. Deposits from banks to Wealthsimple typically take a few days. Funds can the same way can be moved back to your chequing or savings account by the same method.

Which Other Features and Products Does Wealthsimple Offer?

Wealthsimple Cash – An alternative to E-transfers which allows you to quickly and easily send cash to friends and family in Canada.

Wealthsimple Tax – Everything you need to prepare for tax season and submit your tax return online for free. It’s advertised to be simple, accurate and always free tax filing.

Wealthsimple Spend – A hybrid pre paid visa and savings account which lets one to get 1% cashback on your purchases, as well as get a competitive 1.5% interest rate on savings.

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

All of the above features, including Wealthsimple Trade can be found within the mobile app and on their site with your Wealthsimple login.

But How Can I Start With Wealthsimple Trade?

Click here to register for your Wealthsimple Trade account. For a special signup bonus offer for our readers you will get the cash value of a Canadian stock worth $25 up to $4,500 Canadian once you make an initial deposit to your account.

What if I Still Have Questions Related to Linkedin Wealthsimple?

If this article hasn’t given you the answers to all of your questions, and you’re still looking for further specific information about Linkedin Wealthsimple, check out the Wealthsimple website for answers to every one of your questions.