Wealthsimple Review 2022: Mint Wealthsimple Trade

What Exactly is Wealthsimple?

Wealthsimple is a convenient and easy to use Canadian digital investing, stock and crypto trading app that distinguishes itself from other apps by charging absolutely no fees. 

A online financial services business launched in Autumn twenty fourteen originally as a robo-advisor algorithmic trading app called Wealthsimple Invest, it has improved considerably over the past eight years to feature Wealthsimple Trade, a no fees discount brokerage app.

Does Wealthsimple Trade Charge Any Fees?

Wealthsimple Trade allows investors trade single stocks and ETFs without needing to pay commissions. The exception to this is when trading securities which are denominated in USD. In which case, they will charge a small currency conversion fee when buying and selling. But, gone are the times of having to pay $7-12 for each trade with discount brokerages as was the norm just a couple years past.

How Much Money do I Need to Have to Start With Wealthsimple Trade?

Wealthsimple is awesome such that they will allow Canadian investors to make a minimum deposit of only $1. Most alternative banks and brokerages have sizeable minimum deposit amounts of 1k-$5000. This makes it tough for the typical new investor to start investing. With Wealthsimple Trade, one doesn’t have to be wealthy to begin trading stocks and ETFs.

Does Wealthsimple Trade Offer TFSA Accounts?

Yes. Wealthsimple Trade has registered and non-CRA-registered account types. One are able to select both RRSP and TFSA account types during the setup phase. 

But Does Wealthsimple Trade Have a Mobile App?

Yes, Wealthsimple Trade offers a well designed mobile app that is offered on both iOS and Android. The app makes the signup process and also the trading of stocks and ETFs super simple.

Is Wealthsimple Trade Legit?

Most definitely. Wealthsimple Trade is secure. Wealthsimple boasts more than 15 billion Canadian in Assets Under Management (AUM). They have been operating for more than 7 years and also right now employs about 600 Canadians. The main owner is the public Canadian company Power Corp of Canada. Weapthsimple Trade is the first no-fees online discount brokerage to operate in Canada.

But How Do I Add Funds to a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it quite simple to deposit to a new account. Just connect to a chequing or savings account with your Trade account, and then add money to your account in only a couple of steps. Deposits from your bank to Wealthsimple usually take only a few days. Funds can the same way can be withdrawn your chequing or savings accounts with the same steps.

Which Additional Features and Products Are Available?

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

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

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

Personal Finance 101 – Wealthsimple’s free personal finance education platform which includes a bunch of different online courses on different topics such as saving, investing, crypto, mortgages and much more. 

Every one of the listed products, along with Wealthsimple Trade can be accessed within the app or on their website with a single login.

But How do I Start With Wealthsimple Trade?

Click here to setup your Wealthsimple Trade account. For a special signup bonus offer for our audience you’ll get the equivalent cash value of a stock valued at up to $4,500 Canadian when you make an initial deposit to your account.

But What if I Still Have Additional Questions Related to Mint Wealthsimple Trade?

If this article didn’t given you the answers to each of your questions, and you’re looking for more specific information about Mint Wealthsimple Trade, go to the Wealthsimple site to find answers to each your questions.