Wealthsimple Review 2022: Wealthsimple 50 30 20

What is Wealthsimple?

Wealthsimple is an easy to use Canadian web based investing, stocks and crypto trading platform that sets itself apart from its competitors by charging no fees. 

A fintech business launched in the Fall of 2014 originally as a robo-advisor trading platform called Wealthsimple Invest, it has changed substantially over the previous eight years to feature Wealthsimple Trade, a no fee discount brokerage app.

Does Wealthsimple Trade Charge Any Type of Fees?

Wealthsimple Trade lets investors trade both individual stocks and also ETFs without paying any fees. The exception is when you’re trading ETFs and stocks that are displayed in USD. In that case, they do charge a currency conversion fee both when buying and selling. But, past us are the days of having to pay more than $7 for each trade with digital discount brokerages as was common only a couple years ago.

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

Wealthsimple is awesome such that they allow investors to make a minimum deposit of only $1. Most traditional banks and discount brokerages have sizeable minimum deposit amounts of 1k-5k. This makes it tough for the typical investor to get started. With Wealthsimple Trade, you don’t need to be wealthy to begin trading stocks and ETFs.

But Does Wealthsimple Trade Have Registered Accounts?

It does. Wealthsimple Trade has available CRA registered and non-CRA-registered account types. You are able to select both RRSP and TFSA accounts during the setup process. 

But Does Wealthsimple Trade Have a Mobile App?

Yes, Wealthsimple Trade has a well designed mobile app that is available to download on both IOS and Android. The smartphone app makes the registration steps and the trading of stocks and ETFs truly a breeze.

Is Wealthsimple Trade Legit?

Definitely. Wealthsimple Trade is legit. Wealthsimple reports more than 15 billion Canadian of Assets Under Management (AUM). They have been in business for more than 7 years and also now employs roughly 600 Canadians. The controlling owner is the admired publicly traded Canadian entity Power Corp of Canada. Weapthsimple Trade is the very first no-fees online brokerage operating in Canada.

So How Do I Fund a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it easy to add funds to an account. Just connect to a chequing or savings account to your Trade account, then fund your account in simply a couple of steps. Deposits from financial institutions to Wealthsimple usually take a couple of days. Funds can also be moved back to your chequing or savings account by using the exact same steps.

Which Other Benefits and Products Are Available?

Wealthsimple Cash – This is alternative to Interac e-Transfers that allows anyone to quickly and easily transfer money to friends and family in Canada.

Wealthsimple Tax – Everything you’ll require to prepare for tax season and file your taxes online free. It’s described to be easy, accurate and always totally free tax return filing.

Wealthsimple Spend – A hybrid pre paid debit card and savings product that allows you to recieve 1% cashback on all your everyday purchases, as well as get a competitive 1.5% interest rate on savings.

Personal Finance 101 – Wealthsimple’s free personal finance learning platform which includes a ton of courses on different topics such as saving, investing, crypto, mortgages and much more. 

Each of the mentioned features, including Wealthsimple Trade can be found on the mobile app or at their site with your Wealthsimple login.

So How Should I Start Using Wealthsimple Trade?

Click here to register for your Wealthsimple Trade account. As a special signup bonus offer for our readers you will get the cash value of a random share worth $25 up to $4,500 Canadian as soon as you make an initial deposit to your account.

What if I Still Have Additional Questions Related to Wealthsimple 50 30 20?

If this review didn’t answered each of your questions, and you’re looking for additional specific information relating to Wealthsimple 50 30 20, visit the Wealthsimple site for answers to each your questions.