Wealthsimple Review 2022: Tax Documents Wealthsimple

What Exactly is Wealthsimple?

Wealthsimple is an easy to use Canadian digital investing, securities and crypto trading platform that distinguishes itself from its competitors by charging absolutely no fees. 

A fintech company launched in the Fall 2014 originally as a robo advisor automated trading platform called Wealthsimple Invest, it has improved substantially over the previous eight years to include Wealthsimple Trade, a zero fees discount brokerage service.

Does Wealthsimple Trade Charge Any Fees?

Wealthsimple Trade allows Canadian consumers trade single stocks and ETFs without paying fees. The exception is when trading securities that are displayed in US Dollars. In this case, they will charge a nominal currency conversion fee when buying and selling. But, gone are the days of having to pay $7-12 per each trade with online discount brokerages as was normal only a couple years ago.

How Much Money Will I Need in Order to Start Investing With Wealthsimple Trade?

Wealthsimple is unique such that they allow new customers to make a minimum deposit of only $1. The majority of alternative banks and discount brokerages have quite large initial deposit amounts of 1K-5K. This makes it difficult for the everyday new investor to get started. With Wealthsimple Trade, you won’t need to be wealthy to start trading stocks and ETFs.

So Does Wealthsimple Trade Offer RRSP Accounts?

They do. Wealthsimple Trade has registered and non-registered accounts. You are able to select between both RRSP and TFSA account types in the setup phase. 

But Does Wealthsimple Trade Offer a Mobile Application?

Yes, Wealthsimple Trade offers a modern mobile app offered on IOS and Google Play. The app makes the registration process and also trading of stocks and ETFs super painless.

Is Wealthsimple Trade Secure?

. Wealthsimple Trade is safe. Wealthsimple reports in excess of 15 billion Canadian of Assets Under Management . they’ve been operating for more than 7 years and right now employs more than 600 folks. The controlling shareholder is the large public Canadian company Power Corp of Canada. Weapthsimple Trade is the very first no-fee online brokerage to operate in Canada.

How Can I Add Funds to a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it quite straight forward to fund your new account. Simply connect a chequing or savings account to your Trade account, and then add funds to your account in simply a couple of clicks. Deposits from your bank to Wealthsimple usually take a few days. Funds can just as easily be moved back to a chequing or savings accounts by using the same steps.

What Other Benefits and Products Does Wealthsimple Offer?

Wealthsimple Cash – An equivalent to e-Transfers that allow anyone to quickly and efficiently transfer money to friends and family in Canada.

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

Wealthsimple Spend – A combination prepaid debit card and savings account that lets one to recieve 1% cashback on your everyday purchases, as well as earn a competitive 1.5% interest on savings.

Personal Finance 101 – This is Wealthsimple’s free personal finance education platform that offers a ton of different courses on topics like saving, investing, crypto, mortgages and much more. 

Each of the mentioned features, including Wealthsimple Trade may be found on the mobile app and from the website with one login.

But How Should I Begin Using Wealthsimple Trade?

Click here to signup for your Wealthsimple Trade account. For a special signup bonus offer to our readers you will receive the equivalent cash value of a share valued at $25 up to $4,500 Canadian as soon as you make an initial deposit to your account.

But What if I Still Have Additional Questions About Tax Documents Wealthsimple?

If this review still hasn’t given you the answers to each of your questions, and you’re still searching for additional specific information about Tax Documents Wealthsimple, visit the Wealthsimple site to find answers to all your questions.