Wealthsimple Review 2022: Stop Loss Wealthsimple

What is Wealthsimple?

Wealthsimple is an easy to use Canadian web based Financial, securities and crypto trading platform that distinguishes itself from the competition by charging no fees. 

A Toronto, Ontario based online financial services business launched in Fall 2014 originally as a robo-advisor trading platform called Wealthsimple Invest, it has improved considerably over the previous 8 years to also feature Wealthsimple Trade, a no fees discount brokerage service.

Does Wealthsimple Trade Charge Any Type of Fees?

Wealthsimple Trade lets consumers trade both single stocks and also ETFs without needing to pay any fees. The exception is when you’re trading securities that are displayed in USD currency. In that case, they do charge a small currency conversion fee both when buying and selling. However, behind us are the times of paying more than $7 per each trade with online discount brokerages as was the case only a few years past.

Exactly How Much Money Will I Need to Start on Wealthsimple Trade?

Wealthsimple is awesome such that they allow Canadians to make a minimum deposit of only $1. The majority of traditional banks and brokerages have large initial deposit amounts of 1k-5K. This makes it impossible for the typical new investor to start. With Wealthsimple Trade, you don’t need to be wealthy to start trading stocks and ETFs.

Does Wealthsimple Trade Offer TFSA Accounts?

Of course. Wealthsimple Trade offers both CRA registered and non-CRA-registered account types. One can select between both RRSP and TFSA accounts during the setup wizard. 

So Does Wealthsimple Trade Offer a Mobile App?

Yes, Wealthsimple Trade offers a well designed mobile app offered to download on both Apple and also Google Play. The mobile app makes the enrollment process and also trading of stocks and ETFs simple.

But Is Wealthsimple Trade Trustworthy?

Definitely. Wealthsimple Trade is legit. Wealthsimple boasts more than 15 billion Canadian of Assets Under Management (AUM). These folks have been in business for more than 7 years and also employs roughly 600 folks. The primary shareholder is the public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the very first no-fee digital discount brokerage operating in Canada.

How Can I Fund a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it quite easy to add funds to a new account. Simply connect a chequing or savings account with your Trade account, and add funds to your account in only a few clicks. Deposits from banks to Wealthsimple typically take just a couple of days. Funds can just as easily be moved to your chequing or savings accounts by the exact same method.

Which Additional Benefits and Products Does Wealthsimple Offer?

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

Wealthsimple Tax – Everything you’ll need to prepare for this tax season and file your taxes online for free. It’s pitched as simple, accurate and always totally free income tax filing.

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

Personal Finance 101 – Wealthsimple’s free personal finance learning platform which includes a variety of courses on saving, investing, crypto, real estate and more. 

All of the listed features, including Wealthsimple Trade can be found inside the mobile app and on the website with one login.

How Can I Start Using Wealthsimple Trade?

Click here to setup a Wealthsimple Trade account. For a special registration bonus to our readers you will get the cash value of a Canadian stock valued at up to $4,500 Canadian as soon as you fund your account.

What if I Still Have Questions Related to Stop Loss Wealthsimple?

If this blog post didn’t given you the answers to all of your questions, and you’re searching for more information relating to Stop Loss Wealthsimple, go to the Wealthsimple site to find answers to each your questions.