Wealthsimple Review 2022: Wealthsimple 0 Commission Reddit

What is Wealthsimple?

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

A leading Canadian online financial services company launched in Fall of 2014 exclusively as a robo-advisor automated trading platform called Wealthsimple Invest, it has changed considerably over the past 8 years to feature Wealthsimple Trade, a no fees discount brokerage app.

Does Wealthsimple Trade Charge Fees?

Wealthsimple Trade allows Canadian consumers to trade both single stocks and also ETFs without needing to pay fees. The exception to this is when trading stocks which are denominated in USD. In which case, they will charge a currency conversion fee both when buying and selling. However, gone are the times of paying $7-12 for each trade with discount brokerages as was the norm a few years past.

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

Wealthsimple is awesome in that they will allow Canadians to make a minimum deposit of just $1. Most alternative banks and discount brokerages have sizeable min deposit amounts of $1,000-5k. 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 begin trading stocks and ETFs.

So Does Wealthsimple Trade Have Registered Accounts?

Yes. Wealthsimple Trade offers both registered and non-registered account types. One may choose both RRSP and TFSA account types in the setup process. 

Does Wealthsimple Trade Have a Mobile Application?

Yes, Wealthsimple Trade has a convenient mobile app offered to download on IOS and Android. The app makes the enrollment phase and also the trading of stocks and ETFs very painless.

So Is Wealthsimple Trade Safe?

Yes. Wealthsimple Trade is trustworthy. Wealthsimple boasts over 15 billion CAD in Assets Under Management . They have been expanding for more than 7 years and currently employs more than 600 people. The primary shareholder is the publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade was the very first no-fees digital discount brokerage operating in Canada.

How Do I Add Funds to a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it so easy to fund your account. Just connect to a chequing or savings account with your Trade account, then add funds to your account in only a few clicks. Deposits from banks to Wealthsimple normally take a couple of days. Funds can the same way can be moved back to your chequing or savings accounts by using the same method.

Which Other Features and Products Are Offered by Wealthsimple?

Wealthsimple Cash – An equivalent to Interac e-Transfers which allow you to quickly and easily transfer money to friends and family in Canada.

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

Wealthsimple Spend – A hybrid prepaid visa and savings product that allows you to recieve 1% cashback on all your everyday purchases, as well as get a very competitive 1.5% interest on savings.

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

All of the listed products, including Wealthsimple Trade may be accessed in the mobile app or at the site with your Wealthsimple login.

So How do I Begin Using Wealthsimple Trade?

Click here to create a new Wealthsimple Trade account. As a special signup bonus for our readers you will receive the cash value of a random Canadian stock worth up to $4,500 CAD when you make an initial deposit to your account.

So What if I Still Have Additional Questions Related to Wealthsimple 0 Commission Reddit?

If this blog post didn’t given you the answers to all of your questions, and you’re browsing for additional info about Wealthsimple 0 Commission Reddit, go to the Wealthsimple website to find answers to all your questions.