Wealthsimple Review 2022: Wealthsimple 1500 Instant Deposit

What Exactly is Wealthsimple?

Wealthsimple is a convenient and easy to use Canadian online investing, securities plus crypto trading app that distinguishes itself from other apps by charging no fees. 

A Toronto, Ontario based fintech company launched in Autumn 2014 originally as a robo advisor algorithmic automated trading platform named Wealthsimple Invest, it has grown significantly over the previous eight years to feature Wealthsimple Trade, a zero fee discount brokerage platform.

Does Wealthsimple Trade Charge Its Users Fees?

Wealthsimple Trade allows Canadian consumers to trade both stand alone stocks and ETFs without having to pay commissions. The exception to this is when trading securities which are denominated in USD currency. In this case, they will charge a currency conversion fee when buying and selling. But, gone are the days of having to pay $7-12 per each trade with online discount brokerages as was common a couple years past.

How Much Cash Will I Need to Get Started on Wealthsimple Trade?

Wealthsimple is unique such that they will allow new customers to make a minimum deposit of just $1. Most alternative banks and discount brokerages have sizeable initial deposit amounts of 1k-5K. This makes it hard for the everyday investor to get started. With Wealthsimple Trade, you don’t have to already be wealthy to begin trading stocks and ETFs.

Does Wealthsimple Trade Offer TFSA Accounts?

They do. Wealthsimple Trade has available both registered and non-CRA-registered accounts. You are free to select between both RRSP and TFSA accounts during the setup wizard. 

Does Wealthsimple Trade Have a Mobile Application?

Yes, Wealthsimple Trade has a modern mobile app that is available to download on both iOS and Google Play. The app makes the registration phase and trading of stocks and ETFs truly easy.

So Is Wealthsimple Trade Trustworthy?

. Wealthsimple Trade is trustworthy. Wealthsimple reports more than 15 billion Canadian of Assets Under Management . This company has been doing business for more than 7 years and also currently employs about 600 people. The main owner is the large publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the first no-fee digital brokerage operating in Canada.

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

The Wealthsimple Trade smartphone app makes it simple to deposit to your account. Simply connect to a chequing or savings account with your Trade account, then fund your account in only a couple of steps. Deposits from banks to Wealthsimple typically take only a couple of days. Funds can the same way can be moved back to a chequing or savings account by the exact same method.

Which Other Benefits and Products Are Offered by Wealthsimple?

Wealthsimple Cash – This is equivalent to E-Transfers which allow one to quickly and efficiently send cash to friends and family in Canada.

Wealthsimple Tax – Everything you require to prepare for tax year and submit your taxes online free. It’s described to be simple, accurate and always free tax filing.

Wealthsimple Spend – A hybrid prepaid debit card and savings product that lets one to recieve 1% cashback on your everyday spending, and also earn a very competitive 1.5% interest on savings.

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

Every one of the listed features, along with Wealthsimple Trade may be found inside the mobile app or at their site with one login.

So How Can I Begin With Wealthsimple Trade?

Click here to create a Wealthsimple Trade account. For a special signup bonus offer to our audience you’ll get the equivalent cash value of a stock valued at $25 up to $4,500 Canadian when you fund your account.

So What if I Still Have Additional Questions Concerning Wealthsimple 1500 Instant Deposit?

If this article hasn’t answered all of your questions, and you’re still browsing for more specific information about Wealthsimple 1500 Instant Deposit, check out the Wealthsimple site to find answers to each your questions.