Wealthsimple Review 2022: Wealthsimple 2022 Performance

What is Wealthsimple?

Wealthsimple is an easy to use Canadian digital Financial, stock plus crypto trading web app that sets itself apart from other apps by charging absolutely no fees. 

A fintech business founded in the Autumn of 2014 originally as a robo-advisor algorithmic trading app called Wealthsimple Invest, it has improved significantly over the previous eight years to also feature Wealthsimple Trade, a zero fees discount brokerage service.

Does Wealthsimple Trade Charge Any Type of Fees?

Wealthsimple Trade allows consumers trade single stocks and ETFs without having to pay any commissions. The exception is when you’re trading stocks that are denominated in US Dollars. In which case, they charge a nominal currency conversion fee both when buying and selling. But, past us are the times of paying Upwards of $7 per trade with online discount brokerages as was the norm just a couple years ago.

How Much Money Will I Need in Order to Start on Wealthsimple Trade?

Wealthsimple is special in that they will allow Canadian investors to make a minimum deposit of just $1. Most alternative banks and brokerages have sizeable min deposit amounts of $1,000-$5000. This makes it impossible for the typical investor to start. With Wealthsimple Trade, you won’t need to already be wealthy to begin trading stocks and ETFs.

So Does Wealthsimple Trade Offer TFSA Accounts?

They do. Wealthsimple Trade has available registered and non-registered accounts. You may select both RRSP and TFSA account types in the setup phase. 

But Does Wealthsimple Trade Have a Mobile App?

Yes, Wealthsimple Trade offers a easy to use mobile app offered to download on both iOS and Android. The mobile app makes the registration steps and also trading of stocks and ETFs super easy.

But Is Wealthsimple Trade Safe?

. Wealthsimple Trade is trustworthy. Wealthsimple has more than 15 billion Canadian in Assets Under Management . These folks have been operating for more than 7 years and also at this time employs more than 600 folks. The main owner is the respected publicly traded Canadian entity Power Corp of Canada. Weapthsimple Trade was the first no-fee digital brokerage operating in Canada.

How Do I Deposit to a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it quite straight forward to deposit to an account. Simply connect the app to a chequing or savings account to your Trade account, then fund your account in just a couple of steps. Deposits from banks to Wealthsimple typically take only a few days. Funds can also be withdrawn your chequing or savings accounts by the exact same steps.

What Other Features and Products Are Available?

Wealthsimple Cash – This is alternative to Interac E-Transfers which allow you to quickly and simply transfer cash to friends and family in Canada.

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

Wealthsimple Spend – A combination prepaid debit card and savings account which allows one to get 1% cashback on your purchases, as well as get a very competitive 1.5% interest on savings.

Personal Finance 101 – Wealthsimple’s free personal finance education platform which offers a ton of different courses on topics like saving, investments, crypto, home buying and more. 

All of the above features, including Wealthsimple Trade can be accessed inside the app and at their website with your Wealthsimple login.

But How Should I Begin With Wealthsimple Trade?

Click here to setup a new Wealthsimple Trade account. For a special signup bonus for our audience you will receive the equivalent cash value of a random Canadian stock worth up to $4,500 CAD when you add funds to your account.

So What if I Still Have Questions Related to Wealthsimple 2022 Performance?

If this review still hasn’t given you the answers to each of your questions, and you’re still looking for further info relating to Wealthsimple 2022 Performance, check out the Wealthsimple site to get answers to every one of your questions.