Wealthsimple Review 2022: Simple Tax Wealthsimple

What Exactly is Wealthsimple?

Wealthsimple is an easy to use Canadian online Financial, stocks and crypto trading web app that distinguishes itself from the competition by charging absolutely no fees. 

A leading Canadian fintech business launched in Fall twenty fourteen originally as a robo advisor automated trading platform called Wealthsimple Invest, it has improved considerably over the previous eight years to feature Wealthsimple Trade, a no fee discount brokerage platform.

Does Wealthsimple Trade Charge Fees?

Wealthsimple Trade lets investors to trade stand alone stocks and ETFs without needing to pay any commissions. The exception is when you’re trading securities which are denominated in USD. In that case, they will charge a currency conversion fee both when buying and selling. But, gone are the times of having to pay more than $7 for each trade with online discount brokerages as was common just a few years ago.

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

Wealthsimple is cool such that they allow investors to make a minimum deposit of just $1. Most alternative banks and discount brokerages have large initial deposit amounts of $1,000-$5,000. This makes it difficult for the everyday new investor to start. With Wealthsimple Trade, you won’t have to already be wealthy to begin trading stocks and ETFs.

So Does Wealthsimple Trade Have RRSP Accounts?

Yes. Wealthsimple Trade has both registered and non-registered account types. One are free to choose both RRSP and TFSA account types in the setup wizard. 

Does Wealthsimple Trade Offer a Mobile App?

Yes, Wealthsimple Trade offers a convenient mobile app that is available on IOS and also Google Play. The smartphone app makes the enrollment process and also trading of stocks and ETFs a breeze.

Is Wealthsimple Trade Secure?

Yes. Wealthsimple Trade is trustworthy. Wealthsimple boasts over 15 billion Canadian in Assets Under Management (AUM). They have been in business for more than 7 years and currently employs more than 600 Canadians. The majority owner is the respected public Canadian corporation Power Corp of Canada. Weapthsimple Trade is the very first no-fee digital discount brokerage operating in Canada.

But How Does One Deposit to a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it so straight forward to add money to a new account. Simply connect to a chequing or savings account to your Trade account, then add money to your account in only a couple of clicks. Deposits from financial institutions to Wealthsimple normally take a couple of days. Funds can just as easily be withdrawn your chequing or savings account using the same method.

What Additional Features and Products Are Available?

Wealthsimple Cash – An equivalent to Interac E-Transfers which allow you to quickly and simply transfer money to friends and family in Canada.

Wealthsimple Tax – Everything you need to prepare for tax season and file your tax return online for free. It’s pitched to be easy, accurate and always free income tax filing.

Wealthsimple Spend – A combination prepaid debit card and savings product that lets you to get 1% cashback on your everyday spending, and also earn a competitive 1.5% interest on savings.

Personal Finance 101 – Wealthsimple’s free personal finance platform that offers a variety of courses on topics like saving, investing, crypto, real estate and much more. 

Each of the mentioned products, including Wealthsimple Trade can be accessed within the app or on the site with one login.

But How do I Get Started Using Wealthsimple Trade?

Click here to setup a Wealthsimple Trade account. As an exclusive registration bonus to our audience you’ll get the equivalent cash value of a stock worth up to $4,500 CAD when you deposit to your account.

What if I Still Have Additional Questions About Simple Tax Wealthsimple?

If this article didn’t given you the answers to all of your questions, and you’re still browsing for more specific facts about Simple Tax Wealthsimple, go to the Wealthsimple site to find answers to every one of your questions.