Wealthsimple Review 2022: Wealthsimple 55$

What Exactly is Wealthsimple?

Wealthsimple is a convenient and easy to use Canadian web based investing, stock plus crypto trading app that sets itself apart from the competition by charging no fees. 

A leading Canadian online financial services company launched in the Autumn of twenty fourteen originally as a robo-advisor trading app named Wealthsimple Invest, it has evolved significantly over the past eight years to include Wealthsimple Trade, a zero fee discount brokerage platform.

Does Wealthsimple Trade Charge Its Users Fees?

Wealthsimple Trade lets consumers trade individual stocks and ETFs without needing to pay any fees. The exception is when trading stocks and ETFs that are denominated in USD currency. In that case, they will charge a nominal currency conversion fee both when buying and selling. But, past us are the times of having to pay more than $7 per trade with online discount brokerages as was normal a couple years ago.

Exactly How Much Money do I Need to Start With Wealthsimple Trade?

Wealthsimple is cool such that they allow Canadian investors to make a minimum deposit of only $1. The majority of traditional banks and discount brokerages have large minimum deposit amounts of $1000-$5,000. This makes it tough for the common investor to start investing. With Wealthsimple Trade, you don’t have to be wealthy to start trading stocks and ETFs.

Does Wealthsimple Trade Offer RRSP Accounts?

Of course. Wealthsimple Trade has CRA registered and non-registered accounts. You may choose both RRSP and TFSA accounts in the setup process. 

So Does Wealthsimple Trade Offer a Mobile Application?

Yes, Wealthsimple Trade has a modern mobile app available on Apple and Google Play. The smartphone app makes the registration steps and the trading of stocks and ETFs incredibly simple.

Is Wealthsimple Trade Trustworthy?

Of course. Wealthsimple Trade is safe. Wealthsimple has more than 15 billion Canadian in Assets Under Management . This company has been operating for more than 7 years and at this time employs roughly 600 people. The majority shareholder is the respected publicly traded Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the very first no-fee digital brokerage to operate in Canada.

But How Do I Deposit to a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it simple to deposit to a new account. Simply connect to a chequing or savings account with your Trade account, then fund your account in only a couple of clicks. Deposits from financial institutions to Wealthsimple normally take a couple of days. Funds can the same way can be moved back to a chequing or savings account by the exact same steps.

What Other Features and Products Does Wealthsimple Offer?

Wealthsimple Cash – This is alternative to Interac e-Transfers which allows you to quickly and simply send cash to friends and family in Canada.

Wealthsimple Tax – Everything you need to prepare for this tax year and submit your tax return online for free. It’s advertised to be simple, accurate and always totally free tax filing.

Wealthsimple Spend – A combination pre paid debit card and savings product which lets you to get 1% cashback on your everyday purchases, and also earn a very competitive 1.5% interest rate on savings.

Personal Finance 101 – This is Wealthsimple’s free personal finance platform which includes a ton of different courses on topics like saving, investing, crypto, real estate and much more. 

Every one of the mentioned features, including Wealthsimple Trade may be accessed within the mobile app and from the site with your Wealthsimple login.

But How do I Get Started Using Wealthsimple Trade?

Click here to setup a Wealthsimple Trade account. For a special signup bonus to our readers you’ll get the equivalent cash value of a random stock worth up to $4,500 CAD as soon as you fund your account.

What if I Still Have Questions Related to Wealthsimple 55$?

If this review still hasn’t answered all of your questions, and you’re looking for further specific facts relating to Wealthsimple 55$, visit the Wealthsimple website to get answers to all your questions.