Wealthsimple Review 2022: Ndax Vs Wealthsimple

What Exactly is Wealthsimple?

Wealthsimple is a simple to use Canadian web based Financial, securities plus crypto trading platform that sets itself apart from other apps by charging absolutely no fees. 

A Toronto, Ontario based fintech business founded in Fall twenty fourteen originally as a robo-advisor algorithmic trading app named Wealthsimple Invest, it has improved substantially over the last eight years to feature Wealthsimple Trade, a zero fee discount brokerage platform.

Does Wealthsimple Trade Charge Fees?

Wealthsimple Trade allows Canadian consumers to trade single stocks and also ETFs without paying any commissions. The exception is when trading ETFs and stocks which are displayed in US Dollars. In that case, they do charge a currency conversion fee both when buying and selling. But, behind us are the times of having to pay $7-12 per trade with digital discount brokerages as was the norm only a couple years past.

How Much Cash do I Need to Have to Start on Wealthsimple Trade?

Wealthsimple is cool such that they allow Canadian investors to make a minimum deposit of just $1. Many alternative banks and brokerages have quite large initial deposit amounts of $1,000-$5000. This makes it tough for the typical new investor to get started. With Wealthsimple Trade, you don’t need to be wealthy to start trading stocks and ETFs.

Does Wealthsimple Trade Offer Registered Accounts?

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

But Does Wealthsimple Trade Offer a Mobile Application?

Yes, Wealthsimple Trade has a well designed mobile app that is offered to download on Apple and Google Play. The mobile app makes the registration steps and also trading of stocks and ETFs a breeze.

Is Wealthsimple Trade Safe?

. Wealthsimple Trade is trustworthy. Wealthsimple boasts more than 15 billion CAD of Assets Under Management . they’ve been operating for more than 7 years and employs over 600 Canadians. The majority owner is the admired publicly traded Canadian entity Power Corp of Canada. Weapthsimple Trade was the very first no-fee digital brokerage to operate in Canada.

But How Does One Fund a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it incredibly straight forward to add money to your new account. Simply connect to a chequing or savings account to your Trade account, then add money to your account in only a few steps. Deposits from financial institutions to Wealthsimple typically take a few days. Funds can the same way can be moved to your chequing or savings account using the exact same process.

What Additional Features and Products Are Available?

Wealthsimple Cash – This is alternative to Interac e-Transfers which allow anyone to quickly and easily transfer money to friends and family in Canada.

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

Wealthsimple Spend – A hybrid pre paid visa and savings product that lets you to get 1% cashback on all your spending, as well as get a competitive 1.5% interest on savings.

Personal Finance 101 – This is Wealthsimple’s free personal finance platform that offers a ton of different courses on saving, investing, crypto, mortgages and much more. 

Every one of the listed products, including Wealthsimple Trade may be accessed in the mobile app and at the site with one login.

But How Can I Start With Wealthsimple Trade?

Click here to create your Wealthsimple Trade account. For a special registration bonus to our audience you’ll get the cash value of a share worth $25 up to $4,500 Canadian as soon as you make an initial deposit to your account.

But What if I Still Have Questions Related to Ndax Vs Wealthsimple?

If this article hasn’t answered each of your questions, and you’re still looking for additional answers relating to Ndax Vs Wealthsimple, visit the Wealthsimple website to find answers to every one of your questions.