Wealthsimple Review 2022: Wealthsimple App

What is Wealthsimple?

Wealthsimple is a simple to use Canadian digital investing, securities plus crypto trading platform that differentiates itself from similar apps by charging absolutely no fees. 

A leading Canadian online financial services company founded in the Fall of twenty fourteen exclusively as a robo advisor algorithmic automated trading app called Wealthsimple Invest, it has evolved substantially over the past eight years to feature Wealthsimple Trade, a zero fees discount brokerage app.

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 which are listed in USD currency. In which case, they do charge a nominal currency conversion fee when buying and selling. However, past us are the times of paying more than $7 per each trade with online discount brokerages as was common only a few years past.

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

Wealthsimple is unique such that they allow Canadian investors to make a minimum deposit of only $1. Many alternative banks and discount brokerages have quite large min deposit amounts of 1K-5K. This makes it impossible for the every day investor to start. With Wealthsimple Trade, one doesn’t have to already be wealthy to start trading stocks and ETFs.

But Does Wealthsimple Trade Have Registered Accounts?

It does. Wealthsimple Trade offers both CRA registered and non-CRA-registered account types. One may select between both RRSP and TFSA accounts in the setup phase. 

So Does Wealthsimple Trade Have a Mobile App?

Yes, Wealthsimple Trade offers a modern mobile app available on IOS and also Google Play. The smartphone app makes the enrollment process and the trading of stocks and ETFs very simple.

So Is Wealthsimple Trade Legit?

Of course. Wealthsimple Trade is trustworthy. Wealthsimple has more than 15 billion Canadian in Assets Under Management . These folks have been doing business for more than 7 years and right now employs about 600 people. The main shareholder is the admired public Canadian entity Power Corp of Canada. Weapthsimple Trade is the first no-fees digital brokerage to operate in Canada.

So How Does One Add Money to a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it quite straight forward to deposit to a new account. Just connect a chequing or savings account to your Trade account, and then fund your account in only a few steps. Deposits from banks to Wealthsimple normally take a couple of days. Funds can the same way can be withdrawn a chequing or savings accounts by using the same method.

Which Additional Benefits and Products Are Offered by Wealthsimple?

Wealthsimple Cash – This is alternative to E-transfers that allow one to quickly and simply transfer cash to friends and family in Canada.

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

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

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

All of the mentioned features, including Wealthsimple Trade may be accessed within the mobile app or at the website with a single login.

So How do I Get Started With Wealthsimple Trade?

Click here to signup for your Wealthsimple Trade account. For an exclusive signup bonus offer to our audience you will receive the equivalent cash value of a stock worth $25 up to $4,500 CAD as soon as you add funds to your account.

But What if I Still Have Additional Questions Related to Wealthsimple App?

If this article didn’t given you the answers to all of your questions, and you’re looking for more info about Wealthsimple App, visit the Wealthsimple website to find answers to every one of your questions.