Wealthsimple Review 2022: Wealthsimple 50 Dollars

What is Wealthsimple?

Wealthsimple is a simple to use Canadian digital investing, securities and crypto trading web app that distinguishes itself from other apps by charging no fees. 

A leading Canadian online financial services company founded in Fall 2014 originally as a robo-advisor automated trading app named Wealthsimple Invest, it has grown substantially over the past eight years to also feature Wealthsimple Trade, a no fee discount brokerage platform.

Does Wealthsimple Trade Charge Fees?

Wealthsimple Trade lets investors to trade stand alone stocks and ETFs without having to pay any fees. The exception to this is when trading securities which are denominated in USD. In this case, they charge a currency conversion fee when buying and selling. But, gone are the days of having to pay $7-12 per each trade with digital discount brokerages as was normal just a couple years past.

Exactly How Much in Funds Will I Need in Order to Get Started on Wealthsimple Trade?

Wealthsimple is awesome such that they allow investors to make a minimum deposit of only $1. Many traditional banks and brokerages have sizeable minimum deposit amounts of $1,000-$5,000. This makes it tough for the normal new investor to start investing. With Wealthsimple Trade, one doesn’t have to already be wealthy to get started with trading stocks and ETFs.

So Does Wealthsimple Trade Have TFSA Accounts?

Of course. Wealthsimple Trade offers both registered and non-CRA-registered account types. One may select between 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 mobile app makes the registration phase and trading of stocks and ETFs super easy.

So Is Wealthsimple Trade Safe?

Definitely. Wealthsimple Trade is legit. Wealthsimple boasts over 15 billion CAD of Assets Under Management . This company has been operating for more than 7 years and right now employs about 600 people. The primary owner is the admired public Canadian company Power Corp of Canada. Weapthsimple Trade was the first no-fee online discount brokerage operating in Canada.

How Do I Add Funds to a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it straight forward to fund an account. Just connect to a chequing or savings account to your Trade account, and then fund your account in just a few steps. Deposits from your bank to Wealthsimple typically take a few days. Funds can the same way can be moved back to a chequing or savings account using the exact same steps.

What Additional Features and Products Are Available?

Wealthsimple Cash – An equivalent to Interac E-transfers that allows you to quickly and efficiently transfer money to friends and family in Canada.

Wealthsimple Tax – Everything you require to get ready for tax year and file your taxes online free. It’s pitched to be simple, accurate and always free tax return filing.

Wealthsimple Spend – A hybrid pre paid debit card and savings product which allows you to get 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 education platform which offers a variety of courses on topics like saving, investments, crypto, mortgages and more. 

All of the listed features, along with Wealthsimple Trade may be found on the app or on the site with one login.

So How do I Start With Wealthsimple Trade?

Click here to create a Wealthsimple Trade account. As an exclusive signup bonus offer for our readers you’ll receive the equivalent cash value of a Canadian stock worth up to $4,500 CAD as soon as you make an initial deposit to your account.

What if I Still Have Additional Questions Concerning Wealthsimple 50 Dollars?

If this review still hasn’t answered all of your questions, and you’re searching for further specific info relating to Wealthsimple 50 Dollars, visit the Wealthsimple site to find answers to every one of your questions.