Wealthsimple Review 2022: Vanguard Vs Wealthsimple

What is Wealthsimple?

Wealthsimple is an easy to use Canadian digital investing, stocks and crypto trading web app that distinguishes itself from the competition by charging no fees. 

A Toronto, Ontario based fintech business founded in the Fall of twenty fourteen exclusively as a robo advisor automated trading app named Wealthsimple Invest, it has improved considerably over the previous eight years to feature Wealthsimple Trade, a zero fee discount brokerage app.

Does Wealthsimple Trade Charge Fees?

Wealthsimple Trade lets consumers trade individual stocks and also ETFs without needing to pay any commissions. The exception to this is when trading ETFs and stocks that are denominated in USD. In this case, they charge a currency conversion fee both when buying and selling. However, past us are the times of having to pay more than $7 per each trade with online discount brokerages as was normal just a few years past.

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

Wealthsimple is special such that they allow Canadians to make a minimum deposit of only $1. Most traditional banks and brokerages have quite large min deposit amounts of 1k-$5,000. This makes it tough for the typical investor to get started. With Wealthsimple Trade, you won’t need to already be wealthy to get started with trading stocks and ETFs.

So Does Wealthsimple Trade Have RRSP Accounts?

Yes. Wealthsimple Trade has both registered and non-CRA-registered account types. You are free to select between both RRSP and TFSA account types in the setup phase. 

So Does Wealthsimple Trade Offer a Mobile Application?

Yes, Wealthsimple Trade has a easy to use mobile app that is offered on Apple and Android. The smartphone app makes the enrollment steps and the trading of stocks and ETFs incredibly painless.

But Is Wealthsimple Trade Trustworthy?

Most definitely. Wealthsimple Trade is legit. Wealthsimple has over 15 billion CAD in Assets Under Management . These folks have been operating for more than 7 years and at this time employs roughly 600 folks. The primary shareholder is the respected publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade was the first no-fee online discount brokerage to operate in Canada.

How Can I Fund a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it quite easy to add funds to your account. Just connect a chequing or savings account with your Trade account, and fund your account in just a few steps. Deposits from banks to Wealthsimple typically take only a couple of days. Funds can the same way can be withdrawn a chequing or savings accounts through the exact same steps.

What Additional Benefits and Products Are Offered by Wealthsimple?

Wealthsimple Cash – An equivalent to E-Transfers that allow you to quickly and efficiently send money to friends and family in Canada.

Wealthsimple Tax – Everything you require to get ready for this tax season and file your tax return online for free. It’s pitched to be easy, accurate and always totally free tax return filing.

Wealthsimple Spend – A combination pre paid visa and savings product which lets one to recieve 1% cashback on your spending, and also get a very competitive 1.5% interest rate on savings.

Personal Finance 101 – Wealthsimple’s free personal finance education platform that offers a variety of different online courses on different topics such as saving, investing, crypto, real estate and much more. 

All of the listed products, including Wealthsimple Trade can be found within the app or from their website with your Wealthsimple login.

How do I Start Using Wealthsimple Trade?

Click here to setup a Wealthsimple Trade account. For a special signup bonus offer for our audience you will receive the cash value of a stock valued at $25 up to $4,500 Canadian as soon as you deposit to your account.

So What if I Still Have Additional Questions Related to Vanguard Vs Wealthsimple?

If this blog post hasn’t given you the answers to each of your questions, and you’re still browsing for more info relating to Vanguard Vs Wealthsimple, check out the Wealthsimple site to find answers to every one of your questions.