Wealthsimple Review 2022: Wealthsimple 3000

What Exactly is Wealthsimple?

Wealthsimple is a convenient and easy to use Canadian digital investing, securities and crypto trading web app that distinguishes itself from its competitors by charging no fees. 

A online financial services company founded in the Fall 2014 exclusively as a robo-advisor automated trading platform called Wealthsimple Invest, it has grown considerably over the previous eight years to feature Wealthsimple Trade, a no fees discount brokerage app.

Does Wealthsimple Trade Charge Fees?

Wealthsimple Trade lets consumers to trade stand alone stocks and also ETFs without needing to pay any commissions. The exception is when you’re trading securities that are listed in USD currency. In which case, they do charge a nominal currency conversion fee when buying and selling. However, behind us are the times of paying $7-12 per each trade with discount brokerages as was normal a few years ago.

Exactly How Much in Funds do I Need to Have in Order to Start on Wealthsimple Trade?

Wealthsimple is unique such that they will allow Canadians to make a minimum deposit of only $1. The majority of traditional banks and brokerages have large min deposit amounts of 1K-$5,000. This makes it difficult for the everyday new investor to start. With Wealthsimple Trade, one doesn’t need to be wealthy to begin trading stocks and ETFs.

But Does Wealthsimple Trade Offer TFSA Accounts?

Of course. Wealthsimple Trade has both registered and non-CRA-registered accounts. One are free to choose both RRSP and TFSA account types during the setup wizard. 

So Does Wealthsimple Trade Offer a Mobile Application?

Yes, Wealthsimple Trade has a well designed mobile app that is available on both iOS and also Google Play. The mobile app makes the enrollment process and the trading of stocks and ETFs very easy.

So Is Wealthsimple Trade Secure?

Yes. Wealthsimple Trade is secure. Wealthsimple boasts in excess of 15 billion Canadian of Assets Under Management . These folks have been doing business for more than 7 years and also now employs over 600 Canadians. The majority owner is the admired public Canadian company Power Corp of Canada. Weapthsimple Trade is the very first no-fees online brokerage operating in Canada.

How Can I Add Funds to a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it quite simple to deposit to a new account. Simply connect the app to a chequing or savings account with your Trade account, and then add money to your account in simply a couple of steps. Deposits from banks to Wealthsimple typically take only a couple of days. Funds can also be moved to your chequing or savings account using the exact same method.

Which Other Features and Products Are Available?

Wealthsimple Cash – This is alternative to Interac E-Transfers which allows one to quickly and easily send money to friends and family in Canada.

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

Wealthsimple Spend – A hybrid pre paid visa and savings product which allows you to recieve 1% cashback on your everyday spending, as well as earn a competitive 1.5% interest on savings.

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

Every one of the mentioned products, along with Wealthsimple Trade may be found inside the app or at the website with your Wealthsimple login.

But How Should I Start Using Wealthsimple Trade?

Click here to register for a Wealthsimple Trade account. For an exclusive signup bonus to our readers you’ll get the cash value of a stock worth $25 up to $4,500 CAD once you add funds to your account.

What if I Still Have Questions Related to Wealthsimple 3000?

If this review didn’t answered all of your questions, and you’re browsing for more answers about Wealthsimple 3000, visit the Wealthsimple website to find answers to each your questions.