Wealthsimple Review 2022: Spousal Rrsp Wealthsimple

What Exactly is Wealthsimple?

Wealthsimple is a simple to use Canadian online Financial, stocks plus crypto trading web app that differentiates itself from its competitors by charging absolutely no fees. 

A leading Canadian online financial services company founded in Autumn of 2014 exclusively as a robo-advisor trading platform called Wealthsimple Invest, it has improved significantly over the last 8 years to include Wealthsimple Trade, a no fees discount brokerage service.

Does Wealthsimple Trade Charge Any Fees?

Wealthsimple Trade lets Canadian consumers trade individual stocks and also ETFs without needing to pay fees. The exception to this is when trading securities which are denominated in US Dollars. In that case, they charge a currency conversion fee when buying and selling. But, behind us are the days of having to pay $7-12 for each trade with digital discount brokerages as was common only a couple years ago.

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

Wealthsimple is awesome such that they allow Canadians to make a minimum deposit of just $1. The majority of traditional banks and discount brokerages have large min deposit amounts of $1,000-5k. This makes it difficult for the everyday investor to get started. With Wealthsimple Trade, one doesn’t have to be wealthy to get started with trading stocks and ETFs.

Does Wealthsimple Trade Offer Registered Accounts?

They do. Wealthsimple Trade has CRA registered and non-CRA-registered accounts. You may select between both RRSP and TFSA accounts in the setup phase. 

So Does Wealthsimple Trade Offer a Mobile App?

Yes, Wealthsimple Trade has a modern mobile app offered to download on both IOS and also Android. The mobile app makes the signup process and also trading of stocks and ETFs painless.

So Is Wealthsimple Trade Safe?

For sure. Wealthsimple Trade is legit. Wealthsimple boasts in excess of 15 billion Canadian in Assets Under Management . These folks have been expanding for more than 7 years and employs over 600 people. The controlling owner is the admired publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade was the first no-fees digital discount brokerage operating in Canada.

So How Does One Add Funds to a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it so easy to add funds to an account. Just connect the app to a chequing or savings account to your Trade account, then add money to your account in only a couple of clicks. Deposits from banks to Wealthsimple typically take only a few days. Funds can the same way can be withdrawn a chequing or savings accounts by the same process.

Which Additional Benefits and Products Are Available?

Wealthsimple Cash – An equivalent to E-Transfers that allows anyone to quickly and efficiently transfer cash to friends and family in Canada.

Wealthsimple Tax – Everything you’ll need to get ready for tax season and submit your taxes online free. It’s advertised as easy, accurate and always free tax filing.

Wealthsimple Spend – A combination prepaid visa and savings product which allows one to earn 1% cashback on your everyday purchases, and also earn a competitive 1.5% interest rate on savings.

Personal Finance 101 – Wealthsimple’s free personal finance platform which includes a ton of online courses on topics like saving, investments, crypto, real estate and much more. 

Each of the listed products, along with Wealthsimple Trade may be accessed within the mobile app or from the site with a single login.

How Can I Start Using Wealthsimple Trade?

Click here to create your Wealthsimple Trade account. For a special registration bonus to our audience you will get the equivalent cash value of a random share worth up to $4,500 Canadian once you add funds to your account.

But What if I Still Have Questions About Spousal Rrsp Wealthsimple?

If this article still hasn’t answered each of your questions, and you’re looking for additional specific info relating to Spousal Rrsp Wealthsimple, check out the Wealthsimple website to find answers to all your questions.