Wealthsimple Review 2022: Nest Wealth Vs Wealthsimple

What is Wealthsimple?

Wealthsimple is a convenient and easy to use Canadian online Financial, stock and crypto trading app that differentiates itself from its competitors by charging absolutely no fees. 

A online financial services company founded in Autumn twenty fourteen originally as a robo-advisor algorithmic automated trading platform named Wealthsimple Invest, it has evolved considerably over the previous eight years to also include Wealthsimple Trade, a no fees discount brokerage app.

Does Wealthsimple Trade Charge Any Type of Fees?

Wealthsimple Trade allows consumers trade individual stocks and ETFs without paying fees. The exception to this is when you’re trading stocks and ETFs that are listed in USD. In this case, they will charge a currency conversion fee both when buying and selling. However, behind us are the times of paying $7-12 per trade with online discount brokerages as was expected only a few years past.

How Much Money Will I Need to Start With Wealthsimple Trade?

Wealthsimple is special in that they will allow new customers to make a minimum deposit of only $1. Most alternative banks and discount brokerages have large minimum deposit amounts of 1K-$5,000. This makes it impossible for the common investor to start investing. With Wealthsimple Trade, you won’t have to already be wealthy to start trading stocks and ETFs.

Does Wealthsimple Trade Have TFSA Accounts?

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

Does Wealthsimple Trade Offer a Mobile App?

Yes, Wealthsimple Trade offers a easy to use mobile app offered to download on Apple and Google Play. The app makes the registration phase and trading of stocks and ETFs a breeze.

So Is Wealthsimple Trade Legit?

Definitely. Wealthsimple Trade is legit. Wealthsimple has over 15 billion CAD of Assets Under Management . This company has been doing business for more than 7 years and currently employs over 600 Canadians. The controlling owner is the publicly traded Canadian entity Power Corp of Canada. Weapthsimple Trade is the very first no-fee online discount brokerage operating in Canada.

But How Do I Fund a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it easy to add money to your account. Just connect a chequing or savings account to your Trade account, and add money to your account in only a couple of clicks. Deposits from your bank to Wealthsimple normally take only a few days. Funds can the same way can be moved back to your chequing or savings account with the exact same method.

Which Other Features and Products Does Wealthsimple Offer?

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

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

Wealthsimple Spend – A combination pre paid debit card and savings account that allows you to earn 1% cashback on all your everyday spending, as well as earn 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, real estate and more. 

Every one of the listed features, including Wealthsimple Trade can be accessed within the app and on the site with one login.

But How do I Start Using Wealthsimple Trade?

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

So What if I Still Have Questions About Nest Wealth Vs Wealthsimple?

If this blog post hasn’t given you the answers to all of your questions, and you’re still looking for further facts relating to Nest Wealth Vs Wealthsimple, go to the Wealthsimple site to get answers to each your questions.