Wealthsimple Review 2022: Nutmeg Vs Wealthsimple

What Exactly is Wealthsimple?

Wealthsimple is a convenient and easy to use Canadian web based Financial, stocks plus crypto trading app that distinguishes itself from similar apps by charging no fees. 

A fintech business founded in Fall of twenty fourteen exclusively as a robo-advisor algorithmic automated trading platform named Wealthsimple Invest, it has improved considerably over the previous eight years to also include Wealthsimple Trade, a zero fee discount brokerage service.

Does Wealthsimple Trade Charge Its Users Fees?

Wealthsimple Trade lets Canadian consumers trade both individual stocks and ETFs without needing to pay any commissions. The exception is when you’re trading ETFs and stocks which are listed in USD currency. In which case, they charge a nominal currency conversion fee when buying and selling. However, past us are the days of having to pay more than $7 per trade with online discount brokerages as was the case only a couple years ago.

How Much Money do I Need to Have in Order to Begin Investing With Wealthsimple Trade?

Wealthsimple is special in that they allow Canadians to make a minimum deposit of only $1. Many alternative banks and discount brokerages have quite large initial deposit amounts of 1k-5k. This makes it difficult for the typical new investor to start. With Wealthsimple Trade, you won’t have to be wealthy to start trading stocks and ETFs.

Does Wealthsimple Trade Have Registered Accounts?

Of course. Wealthsimple Trade offers registered and non-registered accounts. One are free to select both RRSP and TFSA accounts in the setup phase. 

But Does Wealthsimple Trade Offer a Mobile App?

Yes, Wealthsimple Trade offers a easy to use mobile app that is offered to download on both IOS and Google Play. The app makes the signup steps and trading of stocks and ETFs truly a breeze.

So Is Wealthsimple Trade Trustworthy?

Of course. Wealthsimple Trade is safe. Wealthsimple has more than 15 billion Canadian of Assets Under Management (AUM). they’ve been expanding for more than 7 years and also right now employs about 600 Canadians. The controlling owner is the admired publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the first no-fee digital brokerage operating in Canada.

How Does One Add Funds to a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it quite easy to fund your account. Just connect to a chequing or savings account to your Trade account, then fund your account in just a couple of clicks. Deposits from your bank to Wealthsimple typically take only a couple of days. Funds can just as easily be moved to a chequing or savings account through the same method.

What Other Benefits and Products Are Offered by Wealthsimple?

Wealthsimple Cash – An alternative to e-Transfers which allow you to quickly and simply send cash to friends and family in Canada.

Wealthsimple Tax – Everything you require to get ready for this tax year and submit your tax return online free. It’s pitched as easy, accurate and always totally free tax filing.

Wealthsimple Spend – A hybrid prepaid visa and savings product which allows you to recieve 1% cashback on your spending, as well as get a competitive 1.5% interest rate on savings.

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

All of the listed features, along with Wealthsimple Trade can be found within the app and at the site with a single login.

How do I Start Using Wealthsimple Trade?

Click here to create your Wealthsimple Trade account. As a special signup bonus offer for our audience you’ll get the cash value of a random stock worth $25 up to $4,500 Canadian once you make an initial deposit to your account.

So What if I Still Have Additional Questions About Nutmeg Vs Wealthsimple?

If this review still hasn’t given you the answers to each of your questions, and you’re looking for more information relating to Nutmeg Vs Wealthsimple, visit the Wealthsimple site for answers to all your questions.