Wealthsimple Review 2022: Wealthsimple 3 Free Stocks

What Exactly is Wealthsimple?

Wealthsimple is a simple to use Canadian web based Financial, stocks and crypto trading web app that distinguishes itself from other apps by charging absolutely no fees. 

A leading Canadian online financial services company launched in Autumn of twenty fourteen exclusively as a robo advisor trading platform named Wealthsimple Invest, it has evolved significantly over the past 8 years to also feature Wealthsimple Trade, a no fee discount brokerage service.

Does Wealthsimple Trade Charge Any Kind of Fees?

Wealthsimple Trade allows Canadian consumers to trade both individual stocks and also ETFs without paying any commissions. The exception to this is when you’re trading stocks and ETFs that are displayed in US Dollars. In that case, they do charge a currency conversion fee both when buying and selling. However, gone are the days of paying $7-12 per each trade with discount brokerages as was the norm only a few years ago.

How Much Money Will I Need to Have in Order to Start Investing With Wealthsimple Trade?

Wealthsimple is special in that they allow investors to make a minimum deposit of only $1. Most traditional banks and discount brokerages have quite large initial deposit amounts of $1000-5K. This makes it hard for the everyday new investor to get started. With Wealthsimple Trade, you won’t have to already be wealthy to begin trading stocks and ETFs.

Does Wealthsimple Trade Offer Registered Accounts?

Yes. Wealthsimple Trade has available both registered and non-CRA-registered account types. You may choose between both RRSP and TFSA account types in the setup wizard. 

But Does Wealthsimple Trade Offer a Mobile Application?

Yes, Wealthsimple Trade offers a well designed mobile app that is offered to download on both iOS and Google Play. The mobile app makes the registration steps and the trading of stocks and ETFs truly painless.

So Is Wealthsimple Trade Legit?

Of course. Wealthsimple Trade is trustworthy. Wealthsimple boasts in excess of 15 billion CAD of Assets Under Management (AUM). These folks have been operating for more than 7 years and also right now employs about 600 folks. The majority shareholder is the respected publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade is the first no-fees online discount brokerage operating in Canada.

But How Does One Fund a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it so simple to add funds to your new account. Simply connect to a chequing or savings account with your Trade account, then fund your account in just a couple of steps. Deposits from banks to Wealthsimple typically take just a couple of days. Funds can also be moved back 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 which allow anyone to quickly and efficiently transfer money to friends and family in Canada.

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

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

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

Each of the listed features, along with Wealthsimple Trade may be accessed on the mobile app and at the site with a single login.

But How Should I Get Started Using Wealthsimple Trade?

Click here to setup a Wealthsimple Trade account. As a special registration bonus to our audience you’ll get the cash value of a Canadian stock worth up to $4,500 CAD as soon as you fund your account.

So What if I Still Have Additional Questions About Wealthsimple 3 Free Stocks?

If this review still hasn’t answered each of your questions, and you’re still searching for more answers relating to Wealthsimple 3 Free Stocks, visit the Wealthsimple site to find answers to every one of your questions.