Wealthsimple Review 2022: Payment For Order Flow Wealthsimple

What Exactly is Wealthsimple?

Wealthsimple is an easy to use Canadian online Financial, securities plus crypto trading app that differentiates itself from the competition by charging no fees. 

A Toronto, Ontario based fintech company founded in the Autumn 2014 exclusively as a robo advisor trading platform named Wealthsimple Invest, it has improved significantly over the past 8 years to also include Wealthsimple Trade, a no fee discount brokerage service.

Does Wealthsimple Trade Charge Any Kind of Fees?

Wealthsimple Trade lets consumers trade individual stocks and also ETFs without having to pay any commissions. The exception to this is when trading securities which are listed in USD. In this case, they will charge a currency conversion fee when buying and selling. However, gone are the times of paying more than $7 per trade with digital discount brokerages as was the case just a couple years past.

How Much Money do I Need to Have in Order to Start Investing on Wealthsimple Trade?

Wealthsimple is awesome in that they will allow new customers to make a minimum deposit of only $1. Many traditional banks and discount brokerages have sizeable min deposit amounts of $1,000-$5,000. This makes it tough for the common new investor to get started. With Wealthsimple Trade, you won’t need to already be wealthy to begin trading stocks and ETFs.

So Does Wealthsimple Trade Have TFSA Accounts?

It does. Wealthsimple Trade offers registered and non-CRA-registered account types. One can select between both RRSP and TFSA account types in the setup phase. 

So Does Wealthsimple Trade Offer a Mobile App?

Yes, Wealthsimple Trade has a modern mobile app available on Apple and also Android. The mobile app makes the signup phase and also the trading of stocks and ETFs incredibly easy.

So Is Wealthsimple Trade Legit?

Yes. Wealthsimple Trade is trustworthy. Wealthsimple reports in excess of 15 billion CAD of Assets Under Management . they’ve been doing business for more than 7 years and also currently employs more than 600 folks. The main shareholder is the large public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the very first no-fees digital discount brokerage to operate in Canada.

So How Can I Add Money to a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it incredibly simple to add money to your account. Just connect to a chequing or savings account to your Trade account, and then fund your account in simply a few steps. Deposits from banks to Wealthsimple normally take only a few days. Funds can also be moved to a chequing or savings account through the same process.

Which Other Benefits and Products Are Available?

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

Wealthsimple Tax – Everything you need to get ready for this tax season and submit your taxes online for free. It’s pitched to be easy, accurate and always free income tax filing.

Wealthsimple Spend – A combination pre paid debit card and savings account which lets one to get 1% cashback on all your purchases, and also get a competitive 1.5% interest on savings.

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

All of the mentioned features, along with Wealthsimple Trade can be found in the mobile app and from their website with your Wealthsimple login.

So How Should I Get Started With Wealthsimple Trade?

Click here to create a new Wealthsimple Trade account. As a special signup bonus offer to our readers you will get the cash value of a random Canadian stock valued at up to $4,500 Canadian once you add funds to your account.

But What if I Still Have Questions Related to Payment For Order Flow Wealthsimple?

If this blog post hasn’t answered all of your questions, and you’re still looking for additional specific facts about Payment For Order Flow Wealthsimple, check out the Wealthsimple site to find answers to every one of your questions.