Wealthsimple Review 2022: W-8ben Wealthsimple

What is Wealthsimple?

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

A leading Canadian fintech company founded in Fall of twenty fourteen exclusively as a robo-advisor automated trading app named Wealthsimple Invest, it has grown substantially over the past 8 years to also feature Wealthsimple Trade, a zero fees discount brokerage platform.

Does Wealthsimple Trade Charge Fees?

Wealthsimple Trade allows Canadian consumers trade stand alone stocks and ETFs without paying commissions. The exception to this is when trading stocks and ETFs that are listed in USD. In this case, they will charge a small currency conversion fee both when buying and selling. But, gone are the days of paying Upwards of $7 per each trade with discount brokerages as was normal a couple years past.

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

Wealthsimple is unique in that they will allow Canadian investors to make a minimum deposit of only $1. The majority of traditional banks and discount brokerages have large initial deposit amounts of 1K-5k. This makes it difficult for the normal new investor to start. With Wealthsimple Trade, one doesn’t have to be wealthy to get started with trading stocks and ETFs.

But Does Wealthsimple Trade Offer RRSP Accounts?

Of course. Wealthsimple Trade has both registered and non-registered account types. One can select between both RRSP and TFSA accounts during the setup wizard. 

But Does Wealthsimple Trade Offer a Mobile Application?

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

Is Wealthsimple Trade Legit?

Yes. Wealthsimple Trade is legit. Wealthsimple has in excess of 15 billion CAD in Assets Under Management . They have been operating for more than 7 years and also now employs about 600 folks. The controlling shareholder is the public Canadian entity Power Corp of Canada. Weapthsimple Trade was the first no-fee online brokerage to operate in Canada.

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

The Wealthsimple Trade smartphone app makes it quite easy to fund your account. Just connect to a chequing or savings account to your Trade account, then add money to your account in only a couple of steps. Deposits from banks to Wealthsimple usually take only a couple of days. Funds can just as easily be moved to a chequing or savings account through the exact same method.

Which Additional Features and Products Are Available?

Wealthsimple Cash – An alternative to 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 this tax year and submit your taxes online free. It’s advertised to be easy, accurate and always totally free income tax filing.

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

Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform which offers a variety of different courses on different topics such as saving, investments, crypto, real estate and much more. 

All of the listed features, including Wealthsimple Trade can be accessed inside the app or on the site with one login.

How Can I Start Using Wealthsimple Trade?

Click here to signup for a Wealthsimple Trade account. As a special registration bonus offer to our audience you will get the equivalent cash value of a share worth up to $4,500 Canadian when you deposit to your account.

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

If this review still hasn’t answered all of your questions, and you’re looking for further answers relating to W-8ben Wealthsimple, check out the Wealthsimple site to get answers to each your questions.