Wealthsimple Review 2022: Wealthsimple 2021 Tax Return

What is Wealthsimple?

Wealthsimple is a convenient and easy to use Canadian online Financial, stocks and crypto trading web app that sets itself apart from the competition by charging no fees. 

A leading Canadian online financial services company launched in Fall of twenty fourteen originally as a robo-advisor trading platform named Wealthsimple Invest, it has improved significantly over the past eight years to also include Wealthsimple Trade, a no fee discount brokerage platform.

Does Wealthsimple Trade Charge Any Type of Fees?

Wealthsimple Trade allows Canadian investors to trade stand alone stocks and also ETFs without needing to pay any commissions. The exception to this is when trading securities which are displayed in USD currency. In which case, they charge a nominal currency conversion fee when buying and selling. However, behind us are the days of paying more than $7 for each trade with discount brokerages as was normal only a couple years ago.

Exactly How Much Cash Will I Need to Start Investing With Wealthsimple Trade?

Wealthsimple is cool in that they will allow Canadian investors to make a minimum deposit of only $1. Many traditional banks and brokerages have sizeable initial deposit amounts of 1K-5k. This makes it hard for the typical investor to start. With Wealthsimple Trade, you don’t need to already be wealthy to begin trading stocks and ETFs.

So Does Wealthsimple Trade Offer TFSA Accounts?

Of course. Wealthsimple Trade has CRA registered and non-registered accounts. One can choose both RRSP and TFSA accounts in the setup phase. 

But Does Wealthsimple Trade Have a Mobile App?

Yes, Wealthsimple Trade has a well designed mobile app that is offered on Apple and also Android. The app makes the registration process and the trading of stocks and ETFs super simple.

But Is Wealthsimple Trade Secure?

Of course. Wealthsimple Trade is secure. Wealthsimple reports over 15 billion CAD in Assets Under Management . they’ve been in business for more than 7 years and also currently employs about 600 Canadians. The main shareholder is the admired publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the very first no-fees online brokerage to operate in Canada.

How Can I Add Funds to a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it so straight forward to add money to a new account. Just connect to a chequing or savings account with your Trade account, and then add money to your account in only a few steps. Deposits from financial institutions to Wealthsimple typically take only a few days. Funds can just as easily be moved back to a chequing or savings accounts with the same process.

Which Additional Features and Products Does Wealthsimple Offer?

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

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

Wealthsimple Spend – A hybrid prepaid debit card and savings product that lets one to get 1% cashback on your everyday spending, as well as 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 online courses on saving, investing, crypto, real estate and much more. 

Every one of the mentioned features, along with Wealthsimple Trade may be accessed in the app or on their website with your Wealthsimple login.

How do I Get Started Using Wealthsimple Trade?

Click here to signup for a new Wealthsimple Trade account. For a special registration bonus offer to our readers you will receive the equivalent cash value of a random share worth up to $4,500 Canadian when you fund your account.

But What if I Still Have Additional Questions Concerning Wealthsimple 2021 Tax Return?

If this review still hasn’t answered each of your questions, and you’re still browsing for additional specific facts about Wealthsimple 2021 Tax Return, check out the Wealthsimple website to find answers to each your questions.