Wealthsimple Review 2022: Wealthsimple 401k

What is Wealthsimple?

Wealthsimple is a simple to use Canadian online investing, securities plus crypto trading app that sets itself apart from its competitors by charging no fees. 

A leading Canadian fintech business founded in the Fall of twenty fourteen exclusively as a robo advisor automated trading app called Wealthsimple Invest, it has changed considerably over the last eight years to also feature Wealthsimple Trade, a zero fees discount brokerage platform.

Does Wealthsimple Trade Charge Its Users Fees?

Wealthsimple Trade allows investors trade individual stocks and also ETFs without paying any commissions. The exception to this is when trading securities that are listed in US Dollars. In this case, they charge a currency conversion fee both when buying and selling. But, behind us are the days of paying $7-12 per each trade with digital discount brokerages as was normal only a few years past.

How Much in Funds do I Need to Have to Start Investing With Wealthsimple Trade?

Wealthsimple is awesome such that they will allow new customers to make a minimum deposit of just $1. Many alternative banks and brokerages have large min deposit amounts of 1K-$5000. This makes it tough for the everyday new investor to start investing. With Wealthsimple Trade, you don’t need to already be wealthy to start trading stocks and ETFs.

So Does Wealthsimple Trade Offer TFSA Accounts?

Yes. Wealthsimple Trade has available both registered and non-registered account types. You are able to select between both RRSP and TFSA accounts in the setup process. 

So Does Wealthsimple Trade Offer a Mobile App?

Yes, Wealthsimple Trade offers a well designed mobile app offered to download on both Apple and Google Play. The mobile app makes the enrollment process and also the trading of stocks and ETFs incredibly simple.

But Is Wealthsimple Trade Safe?

For sure. Wealthsimple Trade is legit. Wealthsimple has over 15 billion CAD in Assets Under Management . they’ve been doing business for more than 7 years and also now employs roughly 600 folks. The controlling owner is the respected public Canadian entity Power Corp of Canada. Weapthsimple Trade was the very first no-fee online discount brokerage operating in Canada.

But How Does One Deposit to a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it straight forward to add funds to an account. Just connect to a chequing or savings account with your Trade account, then add money to your account in simply a few clicks. Deposits from financial institutions to Wealthsimple normally take a few days. Funds can the same way can be withdrawn a chequing or savings accounts using the same method.

What Other Features and Products Does Wealthsimple Offer?

Wealthsimple Cash – An alternative to e-transfers that allow you to quickly and easily send money to friends and family in Canada.

Wealthsimple Tax – Everything you require to prepare for this tax season and file your taxes online free. It’s advertised as simple, accurate and always totally free income tax filing.

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

Personal Finance 101 – Wealthsimple’s free personal finance education platform that offers a bunch of online courses on different topics such as saving, investments, crypto, real estate and much more. 

Each of the above products, along with Wealthsimple Trade may be found in the mobile app or from the site with your Wealthsimple login.

But How Should I Begin With Wealthsimple Trade?

Click here to setup your Wealthsimple Trade account. For a special registration bonus offer for our audience you’ll get the cash value of a random Canadian stock worth up to $4,500 CAD when you deposit to your account.

So What if I Still Have Questions About Wealthsimple 401k?

If this article didn’t answered all of your questions, and you’re looking for further specific information relating to Wealthsimple 401k, go to the Wealthsimple website to find answers to all your questions.