Wealthsimple Review 2022: Wealthsimple America

What Exactly is Wealthsimple?

Wealthsimple is an easy to use Canadian online investing, stock and crypto trading web app that sets itself apart from similar apps by charging no fees. 

A online financial services company founded in the Autumn of twenty fourteen exclusively as a robo advisor algorithmic automated trading platform named Wealthsimple Invest, it has changed significantly over the last eight years to also include Wealthsimple Trade, a zero fee discount brokerage app.

Does Wealthsimple Trade Charge Any Kind of Fees?

Wealthsimple Trade lets investors to trade stand alone stocks and also ETFs without needing to pay fees. The exception is when you’re trading securities which are denominated in USD. In this case, they do charge a currency conversion fee when buying and selling. However, past us are the times of having to pay Upwards of $7 for each trade with online discount brokerages as was common only a few years ago.

Exactly How Much Money Will I Need in Order to Begin Investing on Wealthsimple Trade?

Wealthsimple is special in that they allow investors to make a minimum deposit of just $1. Many alternative banks and brokerages have quite large minimum deposit amounts of $1000-5k. This makes it hard for the every day new investor to start investing. With Wealthsimple Trade, you don’t have to already be wealthy to begin trading stocks and ETFs.

So Does Wealthsimple Trade Offer RRSP Accounts?

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

But Does Wealthsimple Trade Offer a Mobile App?

Yes, Wealthsimple Trade has a convenient mobile app available on IOS and also Android. The smartphone app makes the enrollment steps and also trading of stocks and ETFs painless.

But Is Wealthsimple Trade Trustworthy?

Most definitely. Wealthsimple Trade is safe. Wealthsimple has over 15 billion CAD in Assets Under Management (AUM). they’ve been expanding for more than 7 years and now employs more than 600 people. The primary shareholder is the large publicly traded Canadian company Power Corp of Canada. Weapthsimple Trade is the first no-fee digital discount brokerage operating in Canada.

But How Can I Deposit to a Wealthsimple Trade Account?

The Wealthsimple Trade mobile app makes it so simple to fund your new account. Simply connect the app to a chequing or savings account with your Trade account, then add funds to your account in only a couple of steps. Deposits from financial institutions to Wealthsimple normally take only a couple of days. Funds can just as easily be moved to your chequing or savings account by the same method.

What Other Features and Products Are Available?

Wealthsimple Cash – This is equivalent to E-Transfers which allow anyone to quickly and easily transfer cash to friends and family in Canada.

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

Wealthsimple Spend – A hybrid prepaid visa and savings product that allows one to get 1% cashback on all your everyday spending, as well as get a competitive 1.5% interest on savings.

Personal Finance 101 – Wealthsimple’s free personal finance platform that offers a variety of courses on topics like saving, investing, crypto, home buying and much more. 

Every one of the above features, including Wealthsimple Trade can be accessed inside the app and from the site with your Wealthsimple login.

How Should I Start Using Wealthsimple Trade?

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

What if I Still Have Questions Related to Wealthsimple America?

If this review hasn’t answered each of your questions, and you’re looking for further specific information relating to Wealthsimple America, visit the Wealthsimple website for answers to each your questions.