Wealthsimple Review 2022: Ufile Vs Wealthsimple Tax

What is Wealthsimple?

Wealthsimple is an easy to use Canadian digital Financial, stocks plus crypto trading platform that sets itself apart from its competitors by charging absolutely no fees. 

A online financial services company founded in Fall of twenty fourteen originally as a robo-advisor trading platform named Wealthsimple Invest, it has improved substantially over the past 8 years to feature Wealthsimple Trade, a zero fee discount brokerage service.

Does Wealthsimple Trade Charge Any Fees?

Wealthsimple Trade lets investors to trade individual stocks and also ETFs without paying any fees. The exception is when you’re trading stocks and ETFs which are displayed in USD currency. In which case, they do charge a nominal currency conversion fee when buying and selling. But, past us are the days of paying $7-12 per trade with digital discount brokerages as was normal only a couple years ago.

Exactly How Much in Funds do I Need in Order to Get Started on Wealthsimple Trade?

Wealthsimple is cool such that they allow Canadian investors to make a minimum deposit of only $1. The majority of alternative banks and brokerages have quite large min deposit amounts of 1k-$5000. This makes it impossible for the every day new investor to get started. With Wealthsimple Trade, you don’t have to already be wealthy to start trading stocks and ETFs.

But Does Wealthsimple Trade Have TFSA Accounts?

Yes. Wealthsimple Trade has available CRA registered and non-registered accounts. One are free to choose between both RRSP and TFSA accounts in the setup phase. 

But Does Wealthsimple Trade Have a Mobile Application?

Yes, Wealthsimple Trade has a modern mobile app that is available to download on both Apple and also Android. The app makes the enrollment process and also the trading of stocks and ETFs truly simple.

Is Wealthsimple Trade Safe?

For sure. Wealthsimple Trade is secure. Wealthsimple boasts in excess of 15 billion CAD in Assets Under Management . This company has been expanding for more than 7 years and currently employs about 600 folks. The controlling owner is the publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade is the very first no-fees digital discount brokerage operating in Canada.

So How Do I Fund a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it quite simple to add funds to an account. Simply connect to a chequing or savings account with your Trade account, and add funds to your account in simply a few steps. Deposits from your bank to Wealthsimple normally take only a few days. Funds can the same way can be moved to a chequing or savings account with the same steps.

Which Other Benefits and Products Are Offered by Wealthsimple?

Wealthsimple Cash – This is alternative to Interac E-transfers that allow anyone to quickly and efficiently transfer money to friends and family in Canada.

Wealthsimple Tax – Everything you’ll require to get ready for tax year and submit your taxes online for free. It’s pitched to be simple, accurate and always totally free income tax filing.

Wealthsimple Spend – A hybrid pre paid debit card and savings account that allows one to get 1% cashback on your purchases, and also get a competitive 1.5% interest rate on savings.

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

Each of the above products, including Wealthsimple Trade may be found within the app or from their site with your Wealthsimple login.

So How Can I Start With Wealthsimple Trade?

Click here to register for a Wealthsimple Trade account. As an exclusive registration bonus for our readers you will receive the equivalent cash value of a share valued at up to $4,500 Canadian once you fund your account.

So What if I Still Have Questions Concerning Ufile Vs Wealthsimple Tax?

If this blog post still hasn’t answered all of your questions, and you’re browsing for additional specific facts relating to Ufile Vs Wealthsimple Tax, check out the Wealthsimple website to get answers to every one of your questions.