Wealthsimple Review 2022: Tax Return Wealthsimple

What is Wealthsimple?

Wealthsimple is a convenient and easy to use Canadian digital investing, securities plus crypto trading app that distinguishes itself from the competition by charging absolutely no fees. 

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

Does Wealthsimple Trade Charge Any Kind of Fees?

Wealthsimple Trade allows investors to trade single stocks and ETFs without needing to pay fees. The exception is when trading stocks and ETFs that are denominated in USD currency. In this case, they do charge a small currency conversion fee when buying and selling. But, behind us are the times of having to pay more than $7 for each trade with online discount brokerages as was the case only a few years past.

Exactly How Much in Funds do I Need to Have to Begin Investing on Wealthsimple Trade?

Wealthsimple is special in that they will allow new customers to make a minimum deposit of only $1. The majority of traditional banks and discount brokerages have quite large initial deposit amounts of $1000-$5000. This makes it tough for the typical investor to get started. With Wealthsimple Trade, you don’t have to be wealthy to begin trading stocks and ETFs.

Does Wealthsimple Trade Have Registered Accounts?

It does. Wealthsimple Trade offers both CRA registered and non-CRA-registered account types. You can choose between both RRSP and TFSA accounts during the setup wizard. 

Does Wealthsimple Trade Offer a Mobile App?

Yes, Wealthsimple Trade offers a convenient mobile app that is offered on Apple and also Google Play. The app makes the signup steps and also the trading of stocks and ETFs incredibly easy.

Is Wealthsimple Trade Legit?

For sure. Wealthsimple Trade is secure. Wealthsimple boasts in excess of 15 billion Canadian of Assets Under Management (AUM). This company has been in business for more than 7 years and also now employs about 600 folks. The majority shareholder is the large publicly traded Canadian corporation Power Corp of Canada. Weapthsimple Trade is the first no-fee online discount brokerage operating in Canada.

How Do I Deposit to a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it so simple to fund an account. Just connect the app to a chequing or savings account to your Trade account, and add money to your account in only a couple of clicks. Deposits from your bank to Wealthsimple normally take a couple of days. Funds can also be moved back to your chequing or savings account by using the same process.

Which Additional Benefits and Products Are Available?

Wealthsimple Cash – An alternative to E-transfers which allows anyone to quickly and simply transfer cash to friends and family in Canada.

Wealthsimple Tax – Everything you’ll need to get ready for this tax year and file your taxes online for free. It’s advertised as simple, accurate and always free income tax filing.

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

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

All of the mentioned features, including Wealthsimple Trade may be found within the mobile app or at the site with a single login.

How Can I Start With Wealthsimple Trade?

Click here to register for a Wealthsimple Trade account. For an exclusive signup bonus offer to our readers you’ll get the cash value of a share valued at up to $4,500 Canadian once you deposit to your account.

But What if I Still Have Additional Questions Related to Tax Return Wealthsimple?

If this review didn’t answered each of your questions, and you’re still browsing for further specific facts relating to Tax Return Wealthsimple, check out the Wealthsimple website to find answers to all your questions.