Wealthsimple Review 2022: Loopring Wealthsimple

What is Wealthsimple?

Wealthsimple is an easy to use Canadian web based Financial, stock plus crypto trading platform that differentiates itself from similar apps by charging absolutely no fees. 

A online financial services company founded in the Fall of twenty fourteen exclusively as a robo advisor trading app named Wealthsimple Invest, it has grown significantly over the previous 8 years to include Wealthsimple Trade, a no fees discount brokerage app.

Does Wealthsimple Trade Charge Fees?

Wealthsimple Trade allows investors trade individual stocks and ETFs without needing to pay commissions. The exception is when trading securities which are displayed in US Dollars. In this case, they do charge a nominal currency conversion fee when buying and selling. But, behind us are the times of paying Upwards of $7 per trade with discount brokerages as was common only a few years ago.

Exactly How Much in Funds Will I Need to Start Investing With Wealthsimple Trade?

Wealthsimple is awesome such that they allow investors to make a minimum deposit of only $1. Many alternative banks and brokerages have sizeable min deposit amounts of 1k-5K. This makes it hard for the everyday new investor to get started. With Wealthsimple Trade, you don’t need to be wealthy to start trading stocks and ETFs.

So Does Wealthsimple Trade Offer Registered Accounts?

Of course. Wealthsimple Trade has both CRA registered and non-CRA-registered account types. You are free to choose both RRSP and TFSA account types during the setup process. 

Does Wealthsimple Trade Have a Mobile Application?

Yes, Wealthsimple Trade has a easy to use mobile app available to download on both IOS and Google Play. The smartphone app makes the enrollment steps and trading of stocks and ETFs simple.

So Is Wealthsimple Trade Safe?

. Wealthsimple Trade is safe. Wealthsimple has in excess of 15 billion CAD of Assets Under Management (AUM). This company has been doing business for more than 7 years and right now employs over 600 Canadians. The majority shareholder is the publicly traded Canadian entity Power Corp of Canada. Weapthsimple Trade was the very first no-fee digital brokerage to operate in Canada.

How Does One Add Funds to a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it incredibly easy to fund a new account. Simply connect the app to a chequing or savings account to your Trade account, then fund your account in simply a couple of clicks. Deposits from your bank to Wealthsimple usually take a couple of days. Funds can the same way can be moved back to your chequing or savings accounts through the exact same process.

What Other Benefits and Products Are Available?

Wealthsimple Cash – An equivalent to e-Transfers which allow you to quickly and efficiently transfer money to friends and family in Canada.

Wealthsimple Tax – Everything you need to get ready for tax season and file your tax return online for free. It’s described as easy, accurate and always free tax filing.

Wealthsimple Spend – A combination prepaid visa and savings product which lets you to get 1% cashback on all your purchases, as well as get a very competitive 1.5% interest on savings.

Personal Finance 101 – Wealthsimple’s free personal finance education platform which includes a variety of different courses on topics like saving, investing, crypto, real estate and much more. 

All of the above products, including Wealthsimple Trade may be found on the mobile app or on their website with one login.

So How Should I Begin Using Wealthsimple Trade?

Click here to signup for your Wealthsimple Trade account. As an exclusive registration bonus to our audience you’ll receive the equivalent cash value of a random Canadian stock worth up to $4,500 Canadian when you add funds to your account.

But What if I Still Have Questions Concerning Loopring Wealthsimple?

If this review still hasn’t answered all of your questions, and you’re searching for more specific facts relating to Loopring Wealthsimple, visit the Wealthsimple site to find answers to all your questions.