Wealthsimple Review 2022: Vtsax Wealthsimple

What is Wealthsimple?

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

A fintech company founded in Fall of twenty fourteen exclusively as a robo-advisor automated trading platform named Wealthsimple Invest, it has changed substantially over the previous eight years to also include Wealthsimple Trade, a no fee discount brokerage service.

Does Wealthsimple Trade Charge Any Kind of Fees?

Wealthsimple Trade lets Canadian consumers to trade individual stocks and also ETFs without paying any commissions. The exception is when trading ETFs and stocks that are denominated in US Dollars. In that case, they will charge a currency conversion fee when buying and selling. But, past us are the days of having to pay $7-12 for each trade with discount brokerages as was the case a couple years ago.

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

Wealthsimple is cool such that they allow Canadian investors to make a minimum deposit of only $1. Most traditional banks and brokerages have quite large min deposit amounts of 1K-5K. This makes it impossible for the every day investor to start investing. With Wealthsimple Trade, you won’t have to already be wealthy to begin trading stocks and ETFs.

Does Wealthsimple Trade Have Registered Accounts?

They do. Wealthsimple Trade offers both CRA registered and non-registered account types. You may select both RRSP and TFSA accounts in the setup wizard. 

Does Wealthsimple Trade Offer a Mobile Application?

Yes, Wealthsimple Trade offers a easy to use mobile app available on both IOS and also Android. The mobile app makes the registration phase and the trading of stocks and ETFs easy.

Is Wealthsimple Trade Legit?

Most definitely. Wealthsimple Trade is trustworthy. Wealthsimple boasts more than 15 billion Canadian in Assets Under Management . They have been doing business for more than 7 years and also employs about 600 Canadians. The primary owner is the admired publicly traded Canadian entity Power Corp of Canada. Weapthsimple Trade was the very first no-fee digital brokerage operating in Canada.

How Does One Add Money to a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it very simple to add money to your new account. Simply connect the app to a chequing or savings account with your Trade account, then fund your account in simply a few clicks. Deposits from financial institutions to Wealthsimple normally take just a couple of days. Funds can the same way can be moved to a chequing or savings accounts with the same method.

Which Other Features and Products Are Available?

Wealthsimple Cash – An equivalent to E-Transfers which allow anyone to quickly and easily send money to friends and family in Canada.

Wealthsimple Tax – Everything you require to get ready for this tax year and submit your taxes online for free. It’s advertised as easy, accurate and always free tax return filing.

Wealthsimple Spend – A combination prepaid visa and savings account which allows you to recieve 1% cashback on all your everyday purchases, and also earn a very competitive 1.5% interest on savings.

Personal Finance 101 – This is Wealthsimple’s free personal finance education platform which includes a variety of online courses on saving, investments, crypto, mortgages and more. 

Each of the listed features, along with Wealthsimple Trade may be found in the mobile app or at their website with a single login.

But How Can I Get Started With Wealthsimple Trade?

Click here to register for a new Wealthsimple Trade account. For an exclusive registration bonus offer to our readers you’ll receive the equivalent cash value of a random share worth up to $4,500 Canadian when you deposit to your account.

So What if I Still Have Additional Questions About Vtsax Wealthsimple?

If this article hasn’t given you the answers to each of your questions, and you’re searching for further specific facts about Vtsax Wealthsimple, check out the Wealthsimple site for answers to every one of your questions.