Wealthsimple Review 2022: W-8ben-e Wealthsimple

What is Wealthsimple?

Wealthsimple is a simple to use Canadian web based investing, securities plus crypto trading web app that distinguishes itself from its competitors by charging no fees. 

A Toronto, Ontario based online financial services company founded in the Autumn twenty fourteen originally as a robo-advisor trading app called Wealthsimple Invest, it has evolved substantially over the previous eight years to include Wealthsimple Trade, a no fee discount brokerage platform.

Does Wealthsimple Trade Charge Any Type of Fees?

Wealthsimple Trade allows investors to trade both individual stocks and also ETFs without paying fees. The exception is when trading ETFs and stocks that are listed in USD currency. In that case, they charge a currency conversion fee both when buying and selling. But, gone are the days of having to pay $7-12 per trade with digital discount brokerages as was the norm a couple years past.

How Much Money Will I Need in Order to Get Started With Wealthsimple Trade?

Wealthsimple is awesome such that they will allow investors to make a minimum deposit of just $1. Many traditional banks and brokerages have sizeable initial deposit amounts of $1,000-5k. This makes it difficult for the common new investor to start. With Wealthsimple Trade, you don’t need to already be wealthy to begin trading stocks and ETFs.

So Does Wealthsimple Trade Have RRSP Accounts?

They do. Wealthsimple Trade has both registered and non-CRA-registered accounts. One are able to select both RRSP and TFSA accounts during the setup phase. 

But Does Wealthsimple Trade Have a Mobile Application?

Yes, Wealthsimple Trade has a well designed mobile app available on both iOS and also Google Play. The smartphone app makes the signup process and also the trading of stocks and ETFs truly easy.

So Is Wealthsimple Trade Safe?

Most definitely. Wealthsimple Trade is trustworthy. Wealthsimple boasts in excess of 15 billion Canadian of Assets Under Management (AUM). This company has been expanding for more than 7 years and now employs more than 600 folks. The majority owner is the admired public Canadian entity Power Corp of Canada. Weapthsimple Trade is the very first no-fees digital brokerage operating in Canada.

So How Can I Add Funds to a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it simple to add funds to your new account. Simply connect to a chequing or savings account with your Trade account, then add funds to your account in just a couple of clicks. Deposits from your bank to Wealthsimple typically take a few days. Funds can also be moved to your chequing or savings account with the exact same method.

Which Other Benefits and Products Does Wealthsimple Offer?

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

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

Wealthsimple Spend – A combination prepaid debit card and savings product which 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 variety of different courses on topics like saving, investing, crypto, home buying and much more. 

Each of the above features, including Wealthsimple Trade may be accessed in the mobile app and from their website with one login.

But How Should I Begin With Wealthsimple Trade?

Click here to signup for a Wealthsimple Trade account. For a special signup bonus offer for our readers you’ll receive the cash value of a random share valued at $25 up to $4,500 Canadian once you fund your account.

So What if I Still Have Questions About W-8ben-e Wealthsimple?

If this review didn’t answered all of your questions, and you’re still looking for more specific information relating to W-8ben-e Wealthsimple, go to the Wealthsimple website to find answers to each your questions.