Wealthsimple Review 2022: Wealthsimple 2022 Tax Calculator

What Exactly is Wealthsimple?

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

A Toronto, Ontario based online financial services business launched in the Fall of 2014 exclusively as a robo advisor automated trading app called Wealthsimple Invest, it has evolved substantially over the previous 8 years to also feature Wealthsimple Trade, a zero fee discount brokerage platform.

Does Wealthsimple Trade Charge Fees?

Wealthsimple Trade lets Canadian consumers to trade individual stocks and ETFs without needing to pay any commissions. The exception to this is when you’re trading stocks and ETFs which are displayed in USD. In which case, they charge a currency conversion fee when buying and selling. However, gone are the days of paying more than $7 for each trade with online discount brokerages as was the norm only a few years past.

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

Wealthsimple is cool in that they allow investors to make a minimum deposit of only $1. Many alternative banks and discount brokerages have quite large minimum deposit amounts of $1000-$5,000. This makes it hard for the everyday investor to get started. With Wealthsimple Trade, you don’t need to be wealthy to start trading stocks and ETFs.

So Does Wealthsimple Trade Offer RRSP Accounts?

Yes. Wealthsimple Trade has available CRA registered and non-CRA-registered account types. One are free to choose between both RRSP and TFSA account types in the setup process. 

But Does Wealthsimple Trade Have a Mobile App?

Yes, Wealthsimple Trade has a modern mobile app that is offered on both Apple and also Android. The mobile app makes the enrollment steps and trading of stocks and ETFs very painless.

Is Wealthsimple Trade Safe?

For sure. Wealthsimple Trade is trustworthy. Wealthsimple reports over 15 billion Canadian in Assets Under Management (AUM). They have been expanding for more than 7 years and right now employs over 600 folks. The controlling shareholder is the admired public Canadian entity Power Corp of Canada. Weapthsimple Trade is the very first no-fee digital brokerage to operate in Canada.

But How Do I Add Money to a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it easy to add money to a new account. Just connect a chequing or savings account with your Trade account, and fund your account in simply a couple of steps. Deposits from banks to Wealthsimple usually take only a couple of days. Funds can also be moved to a chequing or savings accounts by using the exact same method.

What Additional Features and Products Does Wealthsimple Offer?

Wealthsimple Cash – This is alternative to Interac e-Transfers that allow one to quickly and easily transfer cash to friends and family in Canada.

Wealthsimple Tax – Everything you’ll require to prepare for this tax season and submit your tax return online free. It’s pitched to be simple, accurate and always free income tax filing.

Wealthsimple Spend – A hybrid prepaid visa and savings product which lets you to get 1% cashback on your purchases, as well as earn a competitive 1.5% interest on savings.

Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform that offers a bunch of different courses on different topics such as saving, investing, crypto, home buying and much more. 

Every one of the above features, including Wealthsimple Trade may be accessed in the mobile app or at their site with a single login.

So How do I Get Started Using Wealthsimple Trade?

Click here to setup a Wealthsimple Trade account. For a special signup bonus offer for our readers you will receive the equivalent cash value of a Canadian stock valued at up to $4,500 Canadian when you deposit to your account.

What if I Still Have Additional Questions Related to Wealthsimple 2022 Tax Calculator?

If this blog post hasn’t given you the answers to each of your questions, and you’re browsing for further answers about Wealthsimple 2022 Tax Calculator, go to the Wealthsimple website to get answers to each your questions.