Wealthsimple Review 2022: Wealthsimple Aum

What is Wealthsimple?

Wealthsimple is a simple to use Canadian web based Financial, stock and crypto trading platform that distinguishes itself from other apps by charging absolutely no fees. 

A fintech business launched in Autumn twenty fourteen originally as a robo-advisor algorithmic trading app called Wealthsimple Invest, it has evolved significantly over the last 8 years to include Wealthsimple Trade, a no fees discount brokerage platform.

Does Wealthsimple Trade Charge Any Kind of Fees?

Wealthsimple Trade lets Canadian investors to trade stand alone stocks and also ETFs without having to pay any fees. The exception is when trading stocks and ETFs that are listed in USD. In which case, they do charge a currency conversion fee both when buying and selling. However, behind us are the times of having to pay more than $7 per trade with online discount brokerages as was the case just a couple years ago.

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

Wealthsimple is unique in that they allow Canadians to make a minimum deposit of only $1. Most traditional banks and brokerages have large initial deposit amounts of 1k-$5,000. This makes it difficult for the typical new investor to get started. With Wealthsimple Trade, you don’t have to be wealthy to get started with trading stocks and ETFs.

But Does Wealthsimple Trade Have RRSP Accounts?

Yes. Wealthsimple Trade offers registered and non-CRA-registered accounts. You are free to select between both RRSP and TFSA account types in the setup phase. 

Does Wealthsimple Trade Offer a Mobile Application?

Yes, Wealthsimple Trade has a modern mobile app available to download on both IOS and also Android. The mobile app makes the signup steps and also the trading of stocks and ETFs very a breeze.

Is Wealthsimple Trade Safe?

Yes. Wealthsimple Trade is secure. Wealthsimple reports in excess of 15 billion CAD in Assets Under Management (AUM). This company has been in business for more than 7 years and now employs about 600 Canadians. The controlling shareholder is the respected public Canadian conglomerate Power Corp of Canada. Weapthsimple Trade was the first no-fees online brokerage operating in Canada.

How Does One Add Money to a Wealthsimple Trade Account?

The Wealthsimple Trade smartphone app makes it so simple to add funds to a new account. Simply connect a chequing or savings account to your Trade account, and then add money to your account in only a couple of steps. Deposits from your bank to Wealthsimple typically take only a few days. Funds can the same way can be moved back to your chequing or savings account by using the exact same process.

What Additional Benefits and Products Are Available?

Wealthsimple Cash – An equivalent to Interac E-transfers which allows one to quickly and efficiently transfer cash to friends and family in Canada.

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

Wealthsimple Spend – A hybrid pre paid visa and savings account which lets one to recieve 1% cashback on your everyday spending, as well as get a competitive 1.5% interest rate on savings.

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

Every one of the listed products, including Wealthsimple Trade can be accessed inside the mobile app or from their website 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 cash value of a random stock valued at up to $4,500 CAD once you fund your account.

What if I Still Have Additional Questions About Wealthsimple Aum?

If this review didn’t given you the answers to all of your questions, and you’re still looking for more facts relating to Wealthsimple Aum, go to the Wealthsimple website to find answers to every one of your questions.