Wealthsimple Review 2022: Wealthsimple $500 Bonus

What Exactly is Wealthsimple?

Wealthsimple is a convenient and easy to use Canadian web based investing, stocks plus crypto trading app that distinguishes itself from other apps by charging no fees. 

A fintech company launched in the Autumn of 2014 exclusively as a robo advisor algorithmic automated trading platform called Wealthsimple Invest, it has changed substantially over the last 8 years to feature Wealthsimple Trade, a no fee discount brokerage service.

Does Wealthsimple Trade Charge Its Users Fees?

Wealthsimple Trade allows Canadian consumers to trade stand alone stocks and ETFs without paying any commissions. The exception to this is when trading stocks that are denominated in USD currency. In this case, they do charge a nominal currency conversion fee both when buying and selling. But, past us are the times of paying $7-12 for each trade with online discount brokerages as was expected a few years past.

Exactly How Much Money do I Need to Get Started on Wealthsimple Trade?

Wealthsimple is cool in that they will allow investors to make a minimum deposit of just $1. The majority of traditional banks and discount brokerages have sizeable initial deposit amounts of 1K-$5,000. This makes it impossible for the every day 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 Offer TFSA Accounts?

It does. Wealthsimple Trade offers CRA registered and non-CRA-registered account types. One are free to choose both RRSP and TFSA accounts during the setup wizard. 

But Does Wealthsimple Trade Have a Mobile Application?

Yes, Wealthsimple Trade offers a modern mobile app offered to download on both IOS and Google Play. The app makes the signup phase and the trading of stocks and ETFs a breeze.

But Is Wealthsimple Trade Legit?

Of course. Wealthsimple Trade is trustworthy. Wealthsimple has over 15 billion Canadian of Assets Under Management (AUM). These folks have been operating for more than 7 years and also employs roughly 600 people. The primary shareholder is the large public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade is the first no-fees digital brokerage to operate in Canada.

How Can I Fund a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it very straight forward to fund an account. Simply connect the app to a chequing or savings account to your Trade account, then add funds to your account in only a few clicks. Deposits from financial institutions to Wealthsimple normally take only a couple of days. Funds can just as easily be moved back to your chequing or savings account using the exact same steps.

What Other Features and Products Are Available?

Wealthsimple Cash – An equivalent to Interac E-Transfers which allow you to quickly and efficiently send cash to friends and family in Canada.

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

Wealthsimple Spend – A hybrid prepaid visa and savings product that allows you to get 1% cashback on all your everyday purchases, and also earn a very competitive 1.5% interest on savings.

Personal Finance 101 – This is Wealthsimple’s free personal finance learning platform which includes a variety of different online courses on different topics such as saving, investments, crypto, home buying and more. 

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

How do I Start Using Wealthsimple Trade?

Click here to signup for a new Wealthsimple Trade account. For an exclusive registration bonus to our audience you’ll receive the cash value of a Canadian stock worth $25 up to $4,500 CAD when you fund your account.

But What if I Still Have Additional Questions About Wealthsimple $500 Bonus?

If this blog post still hasn’t answered all of your questions, and you’re searching for additional info about Wealthsimple $500 Bonus, visit the Wealthsimple website for answers to each your questions.